HYDERABAD: Prime minister Narendra Modi in November last year inaugurated a stretch of Hyderabad Metro which was between Miyapur and Nagole. The 30 km stretch which was out of the 72 km long elevated metro project consisting 24 stations. This project is being built across the three corridors by the concessionaire L&T metro rail (Hyderabad) limited HMRL.
A top official today said that the Hyderabad Metro Rail Limited (HMRL) project expects to break even in six years.
After launching e-scooters of Metro Bikes for first and last mile connectivity at metro stations NVS Reddy, HMRL Managing Director told reports that as per our financial model, L&T Metro Rail (Hyderabad) Limited will incur losses for about four-five years and the sixth year it will break even that’s what our expectation is.
HMRL Managing Director told reports that as per our financial model, L&T Metro Rail (Hyderabad) Limited will incur losses for about four-five years and the sixth year it will break even that’s what our expectation is.
Reddy also added that in the Sixth year we expect the break-even. Because the debt burden is very high. Out of about Rs 16,500 crore which they are investing Rs 3,000 crore is their equity and Rs 12,500 crore plus is debt. Interest burden alone per annum will be Rs 1,300 crore. That’s the main challenge.
In the operational 30 km stretch of Miyapur-Nagole Hyderabad Metro is recording footfall of 80,000-85,000 passengers per day.
I am expecting that it will be five lakh passengers per day once we open remaining two sections and from there 15 lakh passengers in the next couple of years, he said.
The malls at Erramanzil (80 percent space is booked), Punjagutta and Hitec City,(already 90 percent of space is booked) and with regard to Moosarambagh, which is under construction (50 percent space is occupied). With regard to the stations, he said 70 to 80 percent space is already booked, Reddy said.