CarDekho, the autotech and financial solutions firm, is preparing to expand into more Middle East cities after launching operations in the UAE earlier this year. According to CFO Neelesh Talathi, the company is evaluating strategic locations to scale up its regional presence.
“We will see further expansion in the Middle East,” Talathi said during the Startup Mahakumbh event in New Delhi. He noted that CarDekho’s technology aligns well with the region’s market, offering broader reach and stronger profit margins.
Middle East Expansion and Market Potential
The company sees great promise in the Middle East. Its tech-enabled services have already proven effective in the UAE, encouraging the team to target more cities in the region. The platform’s adaptability and profitability make the region a strong focus for near-term growth.
At the same time, CarDekho remains acquisition-focused. It has acquired about six companies in the past two years and is currently in advanced talks with two more. “It’s a part of what we do,” Talathi added, emphasizing how M&A supports the group’s strategic vision.
Financial Momentum and Acquisition Strategy
CarDekho reported a 54% rise in net revenue for FY24, jumping to Rs 2,074 crore, up from Rs 1,347 crore in FY23, according to its regulatory filings.
During the same period, the company significantly reduced its losses, bringing them down from Rs 562 crore to Rs 340 crore. Talathi attributed this improvement to growing efficiency and the company’s classified business, which contributes higher profitability. Meanwhile, platforms like InsuranceDekho and rupyy continue to drive topline growth.
Looking ahead, CarDekho expects similar revenue growth in FY25. However, in FY26, growth is projected to moderate to around 35-40%, owing to the high base effect.
IPO Plans Amid AI Growth and Sales Recovery Forecast
CarDekho is also advancing in AI integration. While artificial intelligence is now embedded across all business functions, the company plans to continue hiring. Its workforce already exceeds 6,000 employees, and Talathi said the group remains in a growth phase across all segments.
The team expects automotive sales in India to recover by the second quarter of FY26, providing a boost to its core business. Additionally, CarDekho has plans to go public, although no specific timeline has been announced yet. “We are working towards that,” Talathi confirmed.
With strong financials, strategic acquisitions, and growing interest in international markets, CarDekho is positioning itself as a key player in the global autotech landscape.
