Jaipur Metro Rail expects Rs 74 crore revenue in first year

Jaipur Metro Rail Corporation expects to earn Rs 74 crore in the first year of its public operation which is likely to start from January 2014.
Of this total revenue estimate, JMRC has set a target of Rs 68 crore from ticket sales, its CMD N C Goyal told a press conference here after holding an Annual General Meeting (AGM).
Through ticket sales, advertisement and other assets, JMRC aims to earn Rs 105 crore in the second year of its operation, he said, adding the Corporation also plans to earn Rs 10 crore from advertisements when its operation starts.
The civil works of Metro's Phase I from Mansarovar to Chandpole (9.718 km) would be completed by end of November and JMRC has spent so far a sum of Rs 1,500 crore on this phase, Goyal said.

The Phase I-B underground tunnel from Chandpole to Bari Chaupar, whose foundation stone was laid by the Prime Minister on September 21, would get a loan of Rs 969 crore from the Asian Development Bank (ADB) in installments after completion of work with an investment of Rs 50 crore, the CMD said.
Recently, the Centre had approved in-principle a fund of Rs 630 crore for JMRC and it would soon be sanctioned by the Union Cabinet or empowered group of ministers, Goyal said.

So far JMRC got funds of Rs 1,700 crore which included Rs 1,400 crore from the state government and Rs 100 crore each from RIICO, Jaipur Development Authority and Rajasthan Housing Board, he said.

In the 2012-13 fiscal, JMRC had a net profit of Rs 6.44 crore from its own resources, bank deposits and fee received from people who applied for jobs, the CMD said.
A Comptroller and Aduit General of India (CAG) report was also tabled at AGM meeting that found no irregurality in the last fiscal's expenditures, Goyal added.