UP Metro Rail Corporation Records Rs.17 Bn Loss in FY23

13 Aug 2024 CW Team

The losses are attributed to various factors, including high operational costs, significant capital expenditure on expanding infrastructure, and the economic impact of the COVID-19 pandemic. UPMRC has been heavily investing in new metro lines and upgrading existing ones to meet the growing demand for urban transportation. However, the revenue generated from passenger fares and other sources has not been sufficient to offset these costs.

The gap between operating expenses and revenue collection has widened, with lower-than-expected ridership and fare revenues contributing to the deficit. The UPMRC's ambitious expansion projects have also led to increased borrowing, adding to the financial burden. The ongoing construction of metro corridors in Kanpur and Agra, which are still in their initial phases, has further strained the corporation's finances.

In response to these challenges, UPMRC is exploring various strategies to improve its financial health. These include increasing ridership through better services and connectivity, enhancing non-fare revenue streams such as commercial activities and advertising, and seeking additional financial support from the state and central governments.

Despite the current financial challenges, UPMRC remains committed to expanding and modernising its metro network to provide efficient and reliable public transportation in Uttar Pradesh's major cities. The corporation is optimistic that with strategic financial planning and increased ridership, it will be able to turn around its financial performance in the coming years.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Uttar Pradesh Metro Rail Corporation (UPMRC) has reported a substantial loss of Rs.17 billion for the financial year 2023, marking a challenging period for the state's metro operations. This financial strain comes amid the ongoing expansion of metro services in cities like Lucknow, Kanpur, and Agra. The losses are attributed to various factors, including high operational costs, significant capital expenditure on expanding infrastructure, and the economic impact of the COVID-19 pandemic. UPMRC has been heavily investing in new metro lines and upgrading existing ones to meet the growing demand for urban transportation. However, the revenue generated from passenger fares and other sources has not been sufficient to offset these costs. The gap between operating expenses and revenue collection has widened, with lower-than-expected ridership and fare revenues contributing to the deficit. The UPMRC's ambitious expansion projects have also led to increased borrowing, adding to the financial burden. The ongoing construction of metro corridors in Kanpur and Agra, which are still in their initial phases, has further strained the corporation's finances. In response to these challenges, UPMRC is exploring various strategies to improve its financial health. These include increasing ridership through better services and connectivity, enhancing non-fare revenue streams such as commercial activities and advertising, and seeking additional financial support from the state and central governments. Despite the current financial challenges, UPMRC remains committed to expanding and modernising its metro network to provide efficient and reliable public transportation in Uttar Pradesh's major cities. The corporation is optimistic that with strategic financial planning and increased ridership, it will be able to turn around its financial performance in the coming years.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Infrastructure Transport

05 Sep 2025

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Infrastructure Transport

05 Sep 2025

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..