KTC plans retail outlets
on its Margao plot
THE GOAN NETWORK
PANAJI
In order to diversify its revenue, Kadamba Transport Corporation (KTC) is planning to have retail outlets on its 1,000 square meter plot in Margao.
Derrick Pereira Neto, managing director, KTC, said, “We are going to collaborate with Indian Oil Corporation (IOC), which in turn will develop the plot into a commercial complex. In part of the plot, IOC will start a petrol-pump and in another part, it will develop retail outlets.”
Pereira Neto also informed that KTC is expecting yearly revenue of around Rs 1.4 crore by renting out retail outlets and IOC. He also mentioned that KTC has sent this proposal to the state government and awaiting its approval.
Pereira Neto further said, “If sustainability has to be brought in KTC, then we have to diversify the revenue and this move is aimed at exactly that.”
KTC has Rs 198.2 crore of accumulated losses as on March 31, 2016. This is primarily because it provides subsidised bus services to the people of Goa. Travel corporations in other parts of India too have found it tough to make profit purely through passenger fare.
It is in this context that KTC is planning to develop retail outlets on its plot at Margao so that it has other ways of making money apart from passenger fare.
KTC has many other plans afoot to diversify its revenue including proposals to develop its bus stands in Panaji, Margao, Vasco and Mapusa into complexes wherein government offices can be accommodated and retail space can also be given to private players to earn rent.
