How Secure Parking secures growth and profit
Leading global parking solutions provider Secure Parking is betting big on the fast-growing Indian parking management services market, which has expanded significantly in recent years. Secure Parking, known for its end-to-end traffic and car parking management solutions, involving design, technology and operations of car parks, has made big strides in India, growing at over 25 per cent CAGR during the last decade. The company, which entered India in 2007, has emerged as the number one player in operating India’s car parks across major malls and Grade A commercial offices, with over 70 per cent market share. Today, the Indian operation contributes over 15 per cent to the company’s global revenue.
Sydney-headquartered Secure Parking, founded by brother duo Brett and Garth Mathews in 1979, has a presence in 12 countries, including the UK, the US, Indonesia, China, the UAE and Malaysia. Backed by 15,000 employees, the company globally operates over 2,000 car parks across airports, shopping malls, hotels, hospitals, office towers and stadiums.
“India is a crucial market for our overall global business,” says Brett Mathews, chairman, Secure Parking. “In the last decades or so, the market has undergone a big transition, and the process is still on. Today, it is the fastest-growing market for us. We have a comprehensive plan to explore this market going forward. We have tried to customise our offering according to the specific needs of the local market,” adds he.
In India, the company is led by Mumbai-headquartered Secure Parking Solutions Pvt Ltd, which also has regional offices in Delhi-NCR and Bengaluru. Offering end-to-end traffic and car parking management solutions, the company, with 5,500 employees, has built an extensive network in India, operating/managing 300 car parks (275,000 parking bays) across 40 cities.
The company operates car parks of most of the large malls and Grade A commercial offices in major cities, including Mumbai, Delhi-NCR, Bengaluru, Hyderabad, Pune and Ahmedabad. It works with major developers like DLF, Pacific, K Raheja, Oberoi Malls, Brigade, Panchshil Realty, Phoenix Market City, Inorbit Malls, Blackstone, Brookfield, Lulu, RMZ, Embassy, Prestige, Infiniti and many more.
Besides, the company is also offering its services to airports, hospitals, exhibitions, education institutions and municipal parking. The company is also involved in two of Adani Group’s airports (in Mumbai & Ahmedabad). It is also engaged in a few upcoming major infrastructure projects, including the Jewar Airport, where it will be active in operating traffic and car parks. It is also offering its services to the Delhi Metro. The company has been associated with municipal and urban planning bodies of Mumbai and Delhi, too.
Fastest growing market
Today, India is the fastest growing market for the company, which aims to double its revenue every three years, going ahead, as it chalks out a comprehensive plan to not only expand its network but also improve its presence significantly in other segments like airports, hospitals, exhibitions, education institutes and municipal parking. Currently, over 80 per cent of its revenue in India comes from operations of car parks in large malls and commercial offices.
The company is now looking to diversify its offering in a more balanced manner, by planning to strengthen its design and technology verticals, even as car park operations today account for over 70 per cent of its business in India. It plays a crucial role in designing the car parks, working closely with architects and developers of greenfield projects. In the technology segment, it is engaged in the implementation of smart parking technology, such as automated parking systems, guidance systems, automatic number-plate recognition (ANPR) cameras and access control. Moreover, it also offers products like ticket dispensers, auto pay stations and heavy-duty barrier gates.
“We provide world-class parking services, smart parking solutions and technology-driven products that deliver unmatched value and earn customer trust and loyalty,” says Arvind Mayar, CEO, Secure Parking India. “What differentiates us from other players is the fact that we offer end-to-end solutions – from design to technology and operations. Secure Parking’s strategy is focused on providing clean, safe, efficient and customer-friendly parking experiences through the adoption of smart technology and best practices in an otherwise highly unorganised market.” An IIT graduate and an MBA (IIM), Mayar had joined the company in 2009.