Since 2014, it has earned Rs 1,183 crore while operational expenditure is Rs 809 crore
With the Versova-Andheri-Ghatkopar (VAG) corridor completing five years of operations in the next four months, its operational revenue has crossed the mark of Rs 1,000 crore. It has earned around Rs 1,189 crore ever since it started its operations in June 2014, data provided by Mumbai Metropolitan Region Development Authority (MMRDA) reveals.
The data further reveals that the operational expenditure ever since June 2014 till now has been around Rs 809 crore. The maximum operational expenditure as per data is towards manpower followed by repair and maintenance.VAG, also known as Metro-1 corridor is the first corridor constructed on public-private partnership (PPP) model in India in which Reliance Infrastructure-led Mumbai Metro One Private Limited (MMOPL) has 69 per cent stakes followed by 26 per cent stakes of MMRDA and 5 per cent of Veolia.
The data reveals that the operational expenditure towards repair and maintenance of Metro-1 has increased from Rs 16 crore in 2014-15 to Rs 24 crore in 2015-16, Rs 46 crore in 2016-17, Rs 68 crore in 2017-18 to Rs 60 in 2018-19. The data for 2018-19 is provisional and is subjected to change.
Coming to expense on manpower, the expenditure has increased from Rs 50 crore in 2014-15 to Rs 58 crore in 2015-16, Rs 65 crore in 2016-17, Rs 72 crore in 2017-18, and Rs 76 crore in 2018-19.
The total operational revenue including the fare and non-fare revenue has increased from Rs 136.2 crore in 2014-15 to Rs 210.2 crore in 2015-16, Rs 237.2 crore in 2016-17, 291.4 crores in 2017-18, and Rs 314 crore in 2018-19. A query sent to MMOPL for commenting on the data provided by MMRDA did not get any response.
The data on operational revenue and expenditure of Metro-1 was submitted by MMRDA to the newly formed fare fixation committee (FFC) formed to study the fare revision for Metro-1 that the MMOPL has been demanding to cite various reasons. The submission document by MMRDA to FFC reads, "If financing costs and the non-cash expenditure are excluded, total revenue earned by MMOPL from operations is in excess of total operational expenditure."
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