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Almost a year into its second phase, the country’s first privately run metro, IL&FS Rail Ltd’s Rapid Metro in Gurugram, is seeing its non-fare revenue outperforming the fare segment. This is rare in the country, though metro systems globally survive on non-fare revenue.
“Fare revenue by itself can never ever make a project viable. There has to be very significant portions of non-fare revenue, which could be out of advertisement, property development, retail or advertising,” Rajiv Banga, managing director and chief executive officer, IL&FS Rail, told Business Standard. Rapid Metro’s non-fare revenue is half its total revenue, compared to Delhi Metro
