
Red Line cost soars to Rs 776cr/km; BMRCL to review estimate, says MP
BENGALURU: Justifying that the Centre has rightly sought revisions in the Metro Phase 3A (Red Line) project, Bengaluru Central MP PC Mohan stated that the Namma Metro line from Sarjapur to Hebbal is the costliest project in the history of Bangalore Metro Rail Corporation Limited's (BMRCL).
'Bengaluru's Metro Phase 3A (Red Line) from Sarjapur to Hebbal is crucial, but at Rs 28,405 crore (Rs 776 crore/km), it is the most expensive project in Namma Metro's history. The Centre has rightly sought revisions. BMRCL will now reassess and aim to reduce the high estimated costs,' he added.
The Union Ministry of Housing and Urban Affairs had directed that the cost estimate be examined by an expert agency before granting final approval by the State Government.
Factors like land acquisition, station construction, alignment and formation, traction & power supply, signalling and telecommunication and train procurement contribute to the high costs, according to the Detailed Project Report (DPR).
The 36.59-km-long Red Line from Sarjapur to Hebbal consists of 22.14 km of elevated line and 14.45 km of tunnel with a total of 28 stations. There will be 17 stations on the elevated line and 11 stations on the tunnel.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
22 minutes ago
- Time of India
Rapido's food delivery entry unlikely to dent duopoly, say brokerages
Rapido's foray into food delivery through a pilot in Bengaluru is unlikely to materially disrupt the entrenched duopoly of Zomato and Swiggy, multiple brokerages said in separate notes, citing the operational complexity, capital intensity and customer experience challenges inherent to the business. TOI reported on Monday, Bengaluru-based Rapido is currently preparing to launch its food delivery service with a fundamentally different pricing structure, choosing flat fees over traditional percentage commissions charged to restaurants. The move positioned the ride-hailing firm as a challenger to Zomato and Swiggy at a time when small restaurant owners are increasingly vocal about rising aggregator costs. Rapido plans to charge a fixed Rs 25 on food orders below Rs 400 and Rs 50 for those above. These charges are flat fees deducted from the order value, paid by the restaurant to Rapido. Bernstein's Rahul Malhotra noted that while Rapido plans to leverage its over 3 million rider base and charge lower take rates, 'new entrants have been unsuccessful in the past.' Malhotra cited prior attempts by Amazon, Ola and ONDC that failed to scale due to limited restaurant selection, fragmented supply, and weak customer experience. He added that India's food delivery market, dominated by Zomato and Swiggy with 54 per cent and 46 per cent market shares respectively, has become operationally complex with over 200,000 to 300,000 restaurants, posing high barriers to scale for new players. Elara Capital's Karan Taurani acknowledged Rapido's cross-utilisation model, where its rider network may reduce incremental capital expenditure. However, Taurani warned that 'the absence of a dedicated fleet may compromise the delivery experience, especially with rising sub-30 minute delivery expectations.' Elara's sensitivity analysis suggested that even a moderate impact from Rapido could lead to a 6 per cent cut in the target price of Eternal (Zomato), should revenue growth or valuation multiples weaken due to pricing pressures. HSBC analysts Yogesh Aggarwal, Prateek Maheshwari and Sagar Desai pointed out that while the underlying cost structures of two-wheeler ride-sharing and food delivery are similar, scaling food delivery demands sustained execution. They argued that "customer experience, ability to execute, and achieving scale remain key challenges" for Rapido. The analysts also flagged that long-term industry growth is already moderating, with most of the incremental demand expected to come from higher order frequencies rather than significant customer base expansion. Kotak Institutional Equities, in its sector alert, described Rapido's entry as having 'no immediate impact' on the incumbents. It reiterated that Zomato and Swiggy have built significant operational moats in logistics, customer loyalty, and dense restaurant partnerships, making material share shifts unlikely in the near term.


Time of India
29 minutes ago
- Time of India
Gurgaon Development Proposals: Manesar Civic Body Approves ₹29 Crore Infrastructure Development and Colony Regularisation, ET Infra
Advt Advt The Municipal Corporation of Manesar (MCM) on Tuesday approved development proposals worth Rs 29 crore, including infrastructure upgrades regularisation of colonies , and sanitation reforms . Of the 15 matters presented during the House meeting, 11 were approvals include the establishment of citizen facilitation centres (CFCs) in all villages under the civic body's jurisdiction and allocation of land for sub-health centres in Shikohpur and Kukdola. The House also cleared the regularisation of three colonies, Dhana, Bas Hariya, and Bas Kusla, and sanctioned the deployment of two staffers for each councillor via the Haryana Kaushal Rozgar Nigam (HKRN).Mayor Dr Inderjit Kaur Yadav told the House that the issue of unauthorised meat shops operating within corporation limits needs urgent attention and called for immediate closure of such establishments. In another key decision, the civic body terminated its contract with the agency handling street vending zones, citing poor performance. The MCM also gave the green light for critical water and sewerage infrastructure across several villages. These include installation of drinking water systems in Bas Kusla, Bas Hariya, and Dhana; sewer and water networks in Dhorka and Kukdola; and new pipelines from IMT Sector 8 to Kasan and from Shaheed Park to Kukdola's animal the house sanctioned RCC drainage from RBS School to Bengali market in Manesar, utility line work in Sikanderpur Badha, drainage work in Nainwal, and water and sewer networks connecting Manesar to Khoh Road. Approval was also granted for the procurement of 200 CCMS panels for better street lighting and sewer cleaning Ayush Sinha said proposals for door-to-door waste collection and street cleaning would now be sent to the headquarters for final approval."Once sanctioned, sanitation services will be streamlined with ward-level teams consisting of two residents, the municipal and senior sanitation inspectors, and the local councillor," he civic body also plans to install new dustbins in markets and public areas. To improve solid waste management , the dumping site in Sector 8 will be enclosed with a single entry-exit gate. The commissioner further asked officials to acquire jetting machines and increase the number of earthmovers for efficient garbage collection and sewer maintenance. The house also approved a one-year extension of the lease for the MCM office building.


Business Standard
30 minutes ago
- Business Standard
Sensex ends 823 pts lower; Nifty below 24,900 level; realty shares tumble
The key equity indices ended with major cuts today, as global sentiment remained cautious. Investor mood was weighed down by lingering uncertainties surrounding the partial U.S.-China trade agreement, which offered limited clarity and left room for potential tariff escalations. The Nifty ended below the 24,900 level. The market was volatile due to the weekly expiry of the Nifty F&O series today. All the sectoral indices on the NSE ended in red. As per provisional closing data, the barometer index, the S&P BSE Sensex, tanked 823.16 points or 1% to 81,691.98. The Nifty 50 index slipped 253.20 points or 1.01% to 24,888.20. The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 1.52% and the S&P BSE Small-Cap index fell 1.38%. The market breadth was weak. On the BSE, 1,286 shares rose and 2,723 shares fell. A total of 142 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 2.54% to 14.02. Buzzing Index: The Nifty Realty index slipped 1.68% to 1,010. The index rose 0.09% in the past trading session. Anant Raj (down 2.95%), Phoenix Mills (down 2.9%), Godrej Properties (down 2.41%), DLF (down 2.35%), Sobha (down 2.12%), Brigade Enterprises (down 2%), Macrotech Developers (down 1.86%), Prestige Estates Projects (down 1.31%), Raymond (down 0.98%) and Oberoi Realty (down 0.53%) declined. Stocks in Spotlight: Sterlite Technologies (STL) surged 9.40% after the company announced it secured a Rs 2,631 crore contract from BSNL for building and maintaining the middle-mile network under BharatNet in Jammu & Kashmir and Ladakh. Tanla Platforms surged 8.46% after the company announced that its board will meet on Monday, 16 June 2025, to consider a proposal for the buyback of equity shares and other related matters. SEPC surged 4.21% after it bagged a letter of award worth Rs 650 crore from Parmeshi Urja for the engineering, procurement, and construction (EPC) of a 133 megawatt (AC) solar power project spread across 26 locations in Maharashtra. Shakti Pumps India advanced 2.76% after the company announced that it has received a letter of award (LoA) worth Rs 114.58 crore from the Maharashtra Energy Department Agency (MEDA). Zee Entertainment added 1.25% after the company announced that its board will meet on Monday, 16 June 2025, where an investment banker will present and discuss the companys growth initiatives for the next three to five years. NIBE rose 0.21%. The firm has received a purchase order from one of the leading Infra and Defence companies for the supply of Armor Plate MIL12560 (ARMOUR) for a total consideration of Rs 23.33 crore. H.G. Infra Engineering fell 1.83%. The company announced that it has been declared the lowest (L1) bidder for the role of Transmission Service Provider (TSP) for the development of an Inter-State Transmission System (ISTS) in the state of Odisha. Canara Bank fell 1.37%. The bank announced a 50 basis points (bps) reduction in its Repo Linked Lending Rate (RLLR), bringing it down from 8.75% to 8.25%, in line with the Reserve Bank of Indias latest repo rate cut. Global Markets: US Dow Jones futures were down 265 points, signaling a weak start for Wall Street. European markets traded lower on Thursday after the UK economy shrank more than expected. The U.K. economy shrank by a larger-than-expected 0.3% in April from Marchthe biggest monthly drop since October 2023. U.K. goods exports to the U.S. dropped 2 billion pounds ($2.71 billion) in April, according to the Office for National Statistics, the biggest monthly drop since records began in 1997. The value of exports was the lowest since February 2022, with the ONS saying the shift was likely linked to the implementation of tariffs on goods imported to the United States. U.S. imports to the U.K. fell by 400 million pounds for the month. Asian stocks ended mixed as investors reacted to U.S. President Donald Trumps statement that a trade agreement with China was done, pending final approval from both himself and Chinese President Xi Jinping. Trump indicated that the deal would include a 55% tariff on Chinese imports, a figure later confirmed by Commerce Secretary Howard Lutnick, who stated that tariffs would remain at that level. In the U.S., major indices closed lower overnight. The S&P 500 fell 0.3%, while the NASDAQ Composite fell 0.5%. The Dow Jones Industrial Average closed flat at 42,865.77 points. According to Trumps social media post, the agreement framework includes Chinese supply commitments for magnets and rare earth elements, while the U.S. would continue to permit Chinese students to attend American universities. Trump emphasized that the U.S. would maintain a 55% tariff, while China would impose a 10% tariff in return. Separately, U.S. inflation data showed the Consumer Price Index (CPI) rose 2.4% year-over-year in May, slightly above Aprils 2.3%. On a monthly basis, CPI growth eased to 0.1%. Market participants are now focused on upcoming Producer Price Index (PPI) figures and weekly jobless claims for additional signals on the health of the U.S. economy.