Mumbai, March 3: The iconic ‘Lalpari’ buses operated by the state transport corporation, which traverse every corner, are now set to accelerate not only passenger mobility but also revenue generation.
Transport Minister and Chairman of the Maharashtra State Road Transport Corporation, Pratap Sarnaik, has announced that the corporation is expected to generate over Rs 250 crore in revenue over the next five years solely through advertisements.
He was speaking at the 310th Board of Directors meeting held at the corporation’s headquarters.
Expanding reach and revenue potential
Sarnaik said MSRTC operates 251 depots and over 610 small and large bus stations across the state. With a fleet of around 12,000 buses, the corporation transports 50 to 55 lakh passengers daily.
He added that once the fleet expands in the future, the daily passenger count is expected to reach one crore. “Advertising on a platform with such extensive reach is a golden opportunity for brands,” he said.
The MSRTC will now drive a new revenue cycle. An ambitious plan has been prepared to maximise advertising revenue by utilising bus stations, their premises, the interiors and exteriors of buses and all available assets, Sarnaik said.
A competitive tender process was conducted for this purpose, and a bid offering more than Rs 250 crore in revenue for the next five years has been accepted. Once the tenure of the existing advertising license holders ends, the rights will be transferred to the new licensees.
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Income expected to more than double
Currently, the corporation earns around Rs 22 crore annually from advertisements. With the new tender, this income is expected to more than double.
Sarnaik expressed confidence that generating revenue from alternative sources beyond ticket sales will help prevent the corporation from slipping into financial losses in the future.
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