Mumbai: The Mumbai Metro Rail Corporation (MMRC) has received overwhelming response from various organizations to acquire rights to name stations on the Colaba-Bandra-SEEPZ Metro-3 corridor. In all 28 organizations have expressed their interest in naming rights, with many of them showing interest in multiple stations.
In all, 87 Expressions of Interest (EOIs) were received for 18 stations. Bandra-Kurla Complex Station, being the most significant business district in the city, was the most sought-after station with 12 EOIs. Dadar and Airport Terminal 2 stations were joint second, receiving 9 EOIs each; followed by Airport Terminal 1 and CSMT with 7 EOIs each.
The organizations that have shown interest include Public Sector Undertakings (PSUs) like LIC, Indian Oil, banking & financial institutions like SBI, Bank of Baroda, UTI, Kotak, IDFC First, HSBC, airlines like Indigo, SpiceJet, other corporates like JSW, Glaxo Smith Kline, TimesGroup, Blackstone, Phoenix Mills, realty firms like Piramal, Oberoi, DB Realty and several others. The EOI process was managed by Auctus Advisors and StudioPOD, our non-fare revenue consultants.
This level of response confirms our view that organizations and businesses in Mumbai place a significant commercial value to a long-term association with the metro network. Given its high ridership and reach, the organizations appreciate the impact and visibility it provides.
“Non-fare revenue is critical for the sustainable operations of any transportation network, which helps keep passenger tariffs under check. Stations Naming Rights is a critical source contributing significantly to overall of non-fare revenue. The response from various organization to the EOI has been encouraging”, said Mr. Ranjit Singh Deol, MD, MMRCL. “The organizations will also benefit by naming stations and associating with a vital metro corridor which will change the way Mumbaikars travel today”, concluded Mr. Deol.