The Bengaluru Metro Rail Corporation (BMRCL) is exploring new avenues to bolster its revenue streams beyond train operations. One such strategy involves entering into agreements with corporate entities for the temporary naming rights of metro stations.
BMRCL has inked naming agreements with three companies for metro stations along the RV Road-Bommasandra Yellow Line. These agreements span a lengthy period of 30 years, with costs ranging from Rs. 75 to 100 crore.
Under these agreements, Infosys Foundation has named the Konappa Agrahara Metro Station for Rs. 100 crore, Biocon Foundation has named the Hebbagodi Metro Station for Rs. 65 crore, and Delta Electronics Foundation has named the Bommasandra Metro Station for Rs. 75 crore.
However, the prolonged duration and hefty costs have deterred many potential corporate partners from participating. In response, BMRCL is contemplating shorter-term contracts with companies, aimed at attracting a wider pool of participants. The corporation believes that station naming agreements will enhance the brand visibility and popularity of the companies involved.
Sources within the metro authority reveal that there is a proposal to offer naming rights for metro stations for a period ranging from 2 to 5 years. A final decision on this matter is expected to be made during the upcoming board meeting of the Metro Rail Corporation.
