YEIDA Generates Increased Revenue of Rs 9.82 Billion in First Half of Fiscal Year
In the first half of the fiscal year, the Yamuna Expressway Industrial Development Authority (YEIDA) reported a significant increase in revenue. The Authority generated Rs 9.82 billion, compared to Rs 7.08 billion in the same period last year. This substantial growth of over Rs 2 billion reflects the successful implementation of various initiatives and projects by YEIDA.
Expenditures on Land Acquisition Cross Rs 7.99 Billion
Despite the increase in revenue, YEIDA’s expenses exceeded its earnings during this period. The total spending amounted to Rs 13.01 billion. A significant proportion of the expenditure, approximately Rs 7.99 billion, was allocated for land acquisition. This year’s expenditure on land acquisition more than doubled from the previous year’s figure of Rs 3.62 billion. This investment highlights YEIDA’s focus on building a substantial land bank to facilitate future developments along the expressway corridor.
Growth in Airport Development and General Development Budget
Apart from land acquisition, YEIDA also experienced an increase in airport-related expenses, rising to Rs 2.04 billion from Rs 1.64 billion the previous year. Additionally, the budget for general development work saw a modest increase of Rs 40 million, totaling Rs 2.14 billion compared to Rs 2.10 billion last year. These numbers reflect YEIDA’s commitment to infrastructure development and its initiatives to enhance the region’s connectivity and amenities.
Sharp Rise in Revenue from Group Housing Projects
The first half of the fiscal year witnessed a remarkable surge in revenue, primarily attributed to a significant increase in group housing projects. Revenue from this sector skyrocketed from Rs 310 million in the same period last year to a remarkable Rs 4.46 billion this year. This remarkable growth can be credited, in part, to the rehabilitation package for stalled projects introduced by the state government, based on recommendations from the Amitabh Kant committee.
Diversified Revenue Sources
YEIDA’s revenue sources were diversified, indicating the success of its various ventures. Revenue from industrial projects amounted to Rs 2.70 billion, while commercial developments contributed Rs 100.14 million. The institutional sectors yielded revenue amounting to Rs 630 million, and residential plots generated Rs 1.14 billion. These diverse revenue streams highlight the Authority’s efforts to promote holistic growth and cater to a variety of sectors.
YEIDA CEO Arun Vir Singh emphasized that the financial figures for the period from April 1 to September 20 would be presented during the upcoming board meeting. This emphasizes the Authority’s commitment to transparency and accountability for its financial performance.
YEIDA’s Focus on Land Acquisition
For the current financial year, land acquisition remains YEIDA’s top and most significant expense, with a whopping Rs 60.63 billion budgeted for this purpose out of a total budget of Rs 100 billion. This allocation demonstrates YEIDA’s dedication to acquiring a substantial land bank to fuel future projects and promote comprehensive development.
Further indicating its dedication to expanding its land bank, YEIDA has recently submitted a proposal to the district administration for acquiring 1,700 hectares of land. This strategic move aligns with the Authority’s ongoing efforts to establish a robust land bank for future projects and facilitate rapid development in the region.
YEIDA’s impressive revenue growth and strategic focus on land acquisition offer promising signs for sustainable development in the region. The fiscal growth, diversified revenue sources, and visionary initiatives undertaken by YEIDA contribute to the overall progress and prosperity along the Yamuna Expressway.
