NMRC Launches Strategic Initiatives to Boost Non-Fare Revenue and Support Local Entrepreneurs
Ten News Network
Noida (13 November 2024): In a bid to diversify its revenue streams and enhance the commuter experience, the Noida Metro Rail Corporation (NMRC) has announced a series of forward-thinking initiatives aimed at boosting non-fare box revenue and supporting local entrepreneurship. These measures are designed to turn metro stations into vibrant business hubs while also offering new opportunities for startups and small businesses to thrive within the metro network.
One of the key initiatives introduced is a Short-Term Policy for Kiosks, Vending Machines, ATMs, and Other Innovative Business Ventures, which aims to attract a wide range of small businesses to metro stations. This policy allows entrepreneurs to apply for business spaces, such as kiosks or vending machines, without the need for a lengthy tendering process. Instead, spaces will be allocated on a first-come, first-served basis, with each space not exceeding 10 square meters. This new approach simplifies the process for first-time entrepreneurs and startups, offering them a unique opportunity to operate within the high-traffic environment of the metro network.
“We believe this policy will help foster a dynamic ecosystem of small businesses, providing convenient services to commuters while encouraging new business ideas,” said an NMRC spokesperson. The policy is designed to not only increase non-fare revenue but also to encourage local entrepreneurs to bring fresh, diverse offerings to the metro stations, creating an ecosystem that benefits both the businesses and the commuting public.
The short-term licenses granted to these businesses will initially last for three years, with an option to extend for an additional two years. This flexibility allows entrepreneurs to establish their businesses in a stable environment while having the potential to grow over time. NMRC has assured that further details about the policy, including eligibility criteria, application procedures, and available spaces, will be made available on its official website.
Beyond the kiosks and vending machines initiative, NMRC is also working to finalize several lucrative tenders that are expected to generate significant revenue. These include:
*Outdoor Advertising Tender*
NMRC is offering advertising spaces along its metro piers and medians, which are expected to attract high levels of visibility due to heavy footfall and vehicular traffic. The outdoor advertising contract, available for a five-year term, is projected to generate additional revenue of approximately Rs. 2 crores annually.
*Parking Management Tender*
To further enhance commuter convenience, NMRC has opened tenders for managing parking facilities at 16 metro stations. With high passenger demand and the potential for significant revenue, this initiative is expected to attract parking management firms. The deadline for submissions is 25th November 2024.
*Kiosk Spaces at Alpha 1 Metro Station*
Five kiosk spaces at the popular Alpha 1 metro station are up for tender. The station, located in a high-traffic area, is expected to generate additional annual revenue of Rs. 25 lakhs. These kiosks will offer a variety of retail and service options for commuters.
*Kiosk Spaces Under Station Staircases*
NMRC has also floated a tender for setting up kiosks under staircases at six metro stations. This initiative, expected to generate Rs. 50 lakhs in annual revenue, takes advantage of underutilized spaces in high-traffic areas of the stations.
*Indoor Station Advertising*
A tender for indoor advertising spaces across six metro stations has been issued, expected to bring in an additional Rs. 33 lakhs annually. This will allow brands to engage with commuters in a more captive, high-visibility environment.
*Commercial Spaces at Pari Chowk and Other Stations*
NMRC has opened tenders for commercial spaces at Pari Chowk Metro Station, with the application deadline set for 14th November 2024. This space is expected to generate Rs. 25 lakhs in annual revenue. Additionally, commercial spaces at Sector 101, Sector 81, Sector 83, and Depot Metro Stations are also available for lease, collectively expected to generate Rs. 70 lakhs in revenue.
*Upcoming High-Value Tenders*
In the coming months, NMRC plans to issue tenders for several high-value projects. These include a substantial commercial space at Sector 83, ideal for co-working spaces or business centers, and a 3.75-hectare land parcel adjacent to the Okhla Bird Sanctuary Station in Sector 94, which could be developed for commercial or mixed-use purposes. Additionally, NMRC is preparing a tender for co-branding opportunities across selected metro stations, allowing companies to integrate their branding into the metro network for enhanced visibility.
These initiatives are part of NMRC’s broader strategy to strengthen its revenue base, promote local entrepreneurship, and make metro stations more engaging and functional for commuters. The corporation believes that by leveraging the unique environment of metro stations, it can create a win-win situation for both businesses and the community, ultimately driving economic growth and improving the passenger experience.
“We are committed to transforming our metro stations into bustling hubs of innovation and entrepreneurship,” the NMRC spokesperson added. “These initiatives will not only generate additional revenue but also create a vibrant business ecosystem that supports local entrepreneurs and meets the needs of our diverse commuter base.”
With a growing focus on community engagement and business development, NMRC aims to turn the metro network into a dynamic and sustainable platform for business, improving both the daily commute and the local economy.
