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.

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

21 May 2025

Kolkata’s luxury housing market sees price growth amid mixed trends

A new study by Nklusive reveals that Kolkata’s luxury residential market (Rs 5–10 crore) recorded a 33 per cent year-on-year rise in supply and a 52 per cent increase in sales in calendar year 2024 (CY24). South Kolkata led with 78 per cent of the segment’s supply. The average price rose by 6 per cent—from Rs 17,519 to Rs 18,600 per sq ft—while unsold inventory grew by 15 per cent. Monthly absorption improved from 2 to 3 units.In contrast, the ultra-luxury segment (Rs 10 crore and above) experienced a 17 per cent decline in supply and a 30 per cent fall in sales. Central Kolkata acco..

Infrastructure Transport

21 May 2025

New Expressway to Cut Pune-Bengaluru Travel Time by Half

The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka’s Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..

Infrastructure Transport

21 May 2025

Nagpur’s Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic

To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..

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

Kolkata’s luxury housing market sees price growth amid mixed trends

New Expressway to Cut Pune-Bengaluru Travel Time by Half

Nagpur’s Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic

Latest Updates

Advertisement

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address