Delhi Metro turns to leasing of property
New Delhi, September 22, 2006: Delhi Metro has found profitable use for its property and has significantly gained financially from leasing its property in the capital. Accounts of the last financial year reveals that Delhi Metro earned over Rs.296 crores from leasing of property while its earnings from Metro rail traffic has been Rs.113 crores.
Another 10 – 15 plots owned by the Delhi Metro would soon be leased out to property developers. This is likely to create hotels and shopping malls to be constructed through a Public – Private partnership model.
Further, DMRC’s IT Park in Shastri Nagar leased to several IT majors including Genpact and Accenture would soon have a second block and, once operational these will bring in about Rs.300 crores revenue to DMRC annually. The success of its phase I seems to have led DMRC to go into its phase II planning for increased expectation of revenue from property leasing.
By INRnews Correspondent