August 30 floods: IT firms, banks on ORR say they lost ₹225 crore in a single day

ORRCA writes to CM and says companies on ORR will seek alternative destinations if infrastructure situation does not improve

September 03, 2022 10:34 pm | Updated 10:56 pm IST - Bengaluru

Flooding on ORR on August 30 led to a loss of ₹ 225 crore as professionals were stuck on the road for more than five hours, claimed Outer Ring Road Companies’ Association.

Flooding on ORR on August 30 led to a loss of ₹ 225 crore as professionals were stuck on the road for more than five hours, claimed Outer Ring Road Companies’ Association. | Photo Credit: file photo

IT firms and banking establishments in the Outer Ring Road (ORR) area have incurred a loss of ₹225 crore owing to the heavy rains and flooding on August 30, said Outer Ring Road Companies’ Association (ORRCA) in a letter to Chief Minister Basavaraj Bommai.

Seeking Mr. Bommai’s attention to address the “appalling infrastructure” in the ORR region in particular and the city in general, ORRCA said half a million professionals were employed along the ORR region between Central Silk Board and Krishnaraja Puram corridor.

“Heavy rains and flooding in the Outer Ring Road area on August 30, which brought parts of Bengaluru to its knees, led to a loss of about ₹ 225 crore in a single day,‘‘ the association said.

Revenue generation

IT firms on the ORR generate revenue of $22 billion every year, accounting for 32% of Bengaluru’s total IT revenue. The area was also the highest tax contributor to the exchequer, the association wrote.

“Poor infrastructure on this corridor, however, is bringing down the efficiency and productivity of companies located here and putting employee safety and well-being at risk. Flooding on ORR on August 30 has led to a loss of ₹225 crore as professionals were stuck on the road for more than five hours,’‘ ORRCA said in its letter.

Sharing its concern, the association further wrote that the inadequate infrastructure on ORR has now reached a “crisis level.” Even though only 30% of ORR population has returned to office, the collapse of the infrastructure has drawn global concern about Bengaluru’s ability to handle further growth.

Arterial roads

ORRCA has appealed to the government to expedite improvement projects on key arterial roads to ORR such as Old Airport Road, ITPL Road, and Varthur Road, as they are regularly used by their staff and the public.

The office-bearers also demanded that the detailed ORR BMRCL 2A metro rail project timelines be shared and strictly adhered to. There were several examples of planned road infrastructure and initiatives being stalled which has only aggravated the issues on ORR, it wrote.

Further cautioning the State administration, the association said it was in the collective interest of ORRCA. The companies may seek alternative destinations if the situation does not improve, the association warned.

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