Bengaluru Metro Surge: Three-Fold Profit Increase In FY 2023-24, Set For 256 km Expansion By 2031

Bengaluru Metro achieved a remarkable turnaround in the financial year 2023-24, registering a three-fold increase in profit before depreciation and substantially reducing its pre-tax loss by over Rs 350 crore.

Currently, the city metro stands as India’s second-longest operational metro network, spanning 73.81 kilometres (km), following Delhi Metro.

Two operational corridors serve the city. The east-west corridor stretches 43.49 km, running from Whitefield Station in the east to Challagatta Terminal in the west.

The north-south corridor covers 30.32 km, with Nagasandra Station marking its northernmost point and Silk Institute Station situated at its southern end.

The financial upswing was driven by a robust increase in ridership, with daily average ridership surging nearly 40 per cent compared to the previous year and overall ridership rising by 31 per cent.

This surge significantly bolstered fare-box revenue, which saw a 35 per cent increase, amounting to Rs 573.91 crore compared to Rs 422.61 crore the previous year.

Despite the strong performance in fare-box revenue, non-fare revenue from sources like paid parking, kiosk leasing, and advertising rights saw only a marginal rise from Rs 178.34 crore to Rs 181.85 crore.

Looking ahead, the Bangalore Metro Rail Corporation Limited (BMRCL) aims to enhance non-fare revenue, targeting Rs 100 crore annually from advertising within trains.

The corporation is focused on achieving financial self-sufficiency within the next decade and aims to cover a portion of depreciation costs over the next three years, reports Deccan Herald.

Plans for expansion are ambitious, with the metro network expected to reach 175.5 km by 2026 and 256.7 km by 2031.

Currently, Phases 2, 2A, and 2B are under construction, while Phase 3 is awaiting approval from the Union cabinet. Phase 3A's detailed project report has already been submitted to the state government.

In the near future, BMRCL anticipates adding 22.29 km to its network this year. The Green Line extension (Nagasandra-Madavara, 3.14 km) is slated to open by September, followed by the 19.15-km Yellow Line by December.

Although civil work for the Yellow Line is complete, commencement of commercial operations has been delayed due to logistical challenges with train availability.