YEIDA reports Rs 9.82 billion revenue in H1 FY25

27 Sep 2024 CW Team

A significant portion of this expenditure, approximately Rs 7.99 billion, was allocated for land acquisition, more than doubling the Rs 3.62 billion spent in the previous year. Officials indicated that the Authority is focused on building a substantial land bank to facilitate future developments along the expressway corridor.

Land acquisition was not the only area where expenditures increased this year; airport-related expenses rose to Rs 2.04 billion from Rs 1.64 billion the previous year. The budget for development work also saw a modest increase, rising by Rs 40 million to reach Rs 2.14 billion, compared to Rs 2.10 billion last year.

Meanwhile, the revenue for the first half of the fiscal year experienced a significant boost, largely due to a sharp rise in group housing projects. Revenue from this segment surged from Rs 310 million in the same period last year to Rs 4.46 billion this year. This increase was partly attributed to the state government's rehabilitation package for stalled projects, based on recommendations from the Amitabh Kant committee, as noted by officials.

Other revenue sources included Rs 2.70 billion from industrial projects, Rs 100.14 million from commercial developments, Rs 630 million from institutional sectors, and Rs 1.14 billion from residential plots. YEIDA CEO Arun Vir Singh mentioned that the revenue and expenditure figures for the period from April 1 to September 20 would be presented at the board meeting.

For the current financial year, land acquisition remains the Authority's largest expense, with a budget of Rs 60.63 billion allocated for this purpose out of a total budget of Rs 100 billion.

YEIDA has also submitted a proposal to the district administration to acquire 1,700 hectares of land as part of its ongoing strategy to establish a robust land bank for future projects.

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In the first half of the fiscal year, the Yamuna Expressway Industrial Development Authority (YEIDA) generated revenue of Rs 9.82 billion, reflecting an increase of over Rs 2 billion compared to the same period last year, when the earnings were Rs 7.08 billion. However, the Authority's expenses exceeded its revenue, with total spending reaching Rs 13.01 billion during this period. A significant portion of this expenditure, approximately Rs 7.99 billion, was allocated for land acquisition, more than doubling the Rs 3.62 billion spent in the previous year. Officials indicated that the Authority is focused on building a substantial land bank to facilitate future developments along the expressway corridor. Land acquisition was not the only area where expenditures increased this year; airport-related expenses rose to Rs 2.04 billion from Rs 1.64 billion the previous year. The budget for development work also saw a modest increase, rising by Rs 40 million to reach Rs 2.14 billion, compared to Rs 2.10 billion last year. Meanwhile, the revenue for the first half of the fiscal year experienced a significant boost, largely due to a sharp rise in group housing projects. Revenue from this segment surged from Rs 310 million in the same period last year to Rs 4.46 billion this year. This increase was partly attributed to the state government's rehabilitation package for stalled projects, based on recommendations from the Amitabh Kant committee, as noted by officials. Other revenue sources included Rs 2.70 billion from industrial projects, Rs 100.14 million from commercial developments, Rs 630 million from institutional sectors, and Rs 1.14 billion from residential plots. YEIDA CEO Arun Vir Singh mentioned that the revenue and expenditure figures for the period from April 1 to September 20 would be presented at the board meeting. For the current financial year, land acquisition remains the Authority's largest expense, with a budget of Rs 60.63 billion allocated for this purpose out of a total budget of Rs 100 billion. YEIDA has also submitted a proposal to the district administration to acquire 1,700 hectares of land as part of its ongoing strategy to establish a robust land bank for future projects.

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