The Telangana State Road Transport Corporation (TSRTC), an organisation with over 45,000 workers and nearly 9,500 buses, has begun experimenting with the idea of monetising two of its most important facilities — the Jubilee Bus Station (JBS) and the Mahatma Gandhi Bus Station (MGBS) — to tide over mounting losses.
According to an official document, the offices of the Executive Director (ED)-Hyderabad Zone (HZ) in MGBS, and the offices of the ED-Greater Hyderabad Zone (GHZ) in JBS, will be moved to two different locations. While the offices of the ED-HZ are scheduled to move to the Commuter Amenities Centre (CAC) in Kachiguda, the offices of ED-GHZ are slated to move to CAC Midhani.
TSRTC’s senior officers said this move comes on the back of another attempt to monetise the transport juggernaut’s existing properties.
While the first floor of JBS houses the accounts sections, crew restrooms, and offices of the cantonment depot manager, its second floor has spacious offices which include those of the office of the ED-GHZ, and Deputy Regional Manager. There are squad offices as well.
On the other hand, at MGBS, the first floor has the office of the ED-HZ, Regional Manager (HR), Deputy Chief Accounts Officer, and vigilance offices. The second floor, however, has fewer office spaces.
The TSRTC expects to get good offers from prospective tenants at JBS and MGBS as they are located in prime areas.
But there is more, the Kachiguda and Midhani properties, where the offices of the EDs are likely to be moved, were also sought to be monetised. But the efforts did not prove fruitful on account of several reasons. These include the location, low rentals, and the COVID-19 pandemic.
Speaking to The Hindu, TSRTC vice-chairman and managing director V. C. Sajjanar said, “Yes, there are plans. But they are in a very nascent stage. It would take at least 15 days to have some more clarity about who to lease spaces to and which spaces to lease.”
Mr. Sajjanar confirmed several attempts were made to monetise CACs at Midhani and Kachiguda. While the progress at the Midhani CAC seemed promising, COVID-19 struck, after which there was not much headway.
Over the past few years, the TSRTC has been deliberating on appropriate monetisation of its large land bank, estimated at around 1,400 acres, and other properties. Before the pandemic, the transport juggernaut mulled turning some of its properties into multiplexes and shopping malls. More recently, in 2021, plans were made to merge bus stations. However, in many cases, the pandemic put a spoke in the wheels. TSRTC is yet to formulate a concrete monetisation plan, sources said.
