It has been over three months since the Hyderabad Metro Rail (HMR) has come to a grinding halt when the countrywide lockdown was enforced on March 22 due to the COVID-19 pandemic. And, the wait for this public transport facility to start is likely to continue for some more time along with the city bus services with the constant rise in cases. It also means the loss making ₹20,000-crore project will only further sink into debt.
L&T Metro Rail Hyderabad (L&TMRH) has already submitted project cost overrun details to the government of ₹3,756 crore and has been “pursuing the matter with the government for providing relief”.
It has reported a loss of ₹382.21 crore for financial year of 2019-20 and a revenue of ₹598.20 crore as per the annual report and has warned that the continuing shutting down of services makes the current financial year predictions totally uncertain. The last three years of operations has got the company ₹1,142.41 crore from fares and another ₹228.16 crore for non-fare revenue from exploitation of commercial real estate. Before shutdown, HMR was carrying close to 5 lakh passengers and garnering revenue of about ₹40 crore a month running across three corridors of Miyapur to L.B. Nagar (Red Line), Jubilee Bus Station to MG Bus Station (Green Line) and Nagole to Raidurg (Blue Line).
Earlier in February, the last remaining Corridor II stretch was launched for commercial operations completing the entire project with 69.2 kms of the metro rail system. Hyderabad Metro Rail Limited, the nodal agency of Telangana government, recommended the extension of scheduled completion date as defined under the Concession Agreement till June 30, 2020. What happens now is not clear.
“Everything is tied to the Delhi Metro Rail services. If the service starts there, we can resume here too as the Union Home Ministry is involved. We are ready with all necessary safety protocols to begin services at a short notice,” affirmed senior metro rail officials, pleading anonymity.
