Ajay Devgn and Ashlee Films Pvt Ltd.'s Parched is a story of three women living in Rajasthan and who happen to be best friends. These three women are Rani (Tannishtha Chatterjee), Lajjo (Radhika Apte) and Bijli (Surveen Chawla). While Rani is a widow, Lajjo is a childless lady and Bijli is a dancer, who also doubles up as a prostitute in order to make extra money.
One common element amongst these three women is that, all three of them had always supressed their desires and unfulfilled dreams. Life takes a U turn for all three of them, when Lajjo realises that, while she can conceive, it's her alcoholic husband who is infertile. On the other hand, Rani seems a wave of love entering her life in the form of a mysterious caller named 'Shahrukh Khan'. Meanwhile, Bijli starts feeling the heat when her dance troupe's owner replaces her with a young girl.
What happens to the trio of Lajjo, Rani and Bijli after that and do they ever find an answer to their 'supressed' quest, is what forms the rest of the film.