Bright Outdoor Media Limited, (BSE - 543831), a pioneer in India's Out-Of-Home (OOH) advertising industry, has achieved a significant milestone by securing the prestigious "Western Railways - Bulk Advertising Rights" contract. Valued at ?60 crore, this seven-year agreement grants Bright exclusive rights to develop 17,555 square feet of prime advertising real estate across Mumbai's Western suburbs.
This landmark contract enables Bright to establish cutting-edge hoardings, including four advanced digital LED displays and seven front-lit static hoardings at 11 premier sites. These strategically located sites in high-traffic areas such as Kandivali ROB, Goregaon ROB, and Mrinal Tai Gore Flyover provide unparalleled visibility in Mumbai's thriving suburban markets.
Bright Outdoor Media has already commenced utilizing the hoarding spaces, with advertisements from prominent brands displayed across these prime locations. The advanced digital LED displays and strategically placed static hoardings are delivering high-impact visibility, attracting attention from commuters and residents alike.
The Mumbai suburbs, stretching from Parla to Kandivali, are witnessing rapid growth and a surge in demand for ROB hoardings. This growth is fuelled by an increasing population, the presence of international brands, luxury real estate developments, and an affluent demographic with high disposable incomes, positioning the region as a highly lucrative advertising hub. Bright's newly secured sites are well-positioned to capitalize on these trends, further boosting its revenue potential. This partnership with Indian Railways marks a pivotal step in Bright's journey to redefine Mumbai's advertising landscape, reinforcing its commitment to delivering excellence, innovation, and value to advertisers.
Commenting on the achievement, Dr. Yogesh Lakhani, CMD of Bright Outdoor Media Limited said, "We are pleased to secure the prestigious Western Railways Bulk Advertising Rights contract, marking a significant milestone for us. This project not only reinforces our position as a premier OOH media company but also underscores the deep trust and faith Indian Railways places in our ability to deliver impactful, reliable, and innovative advertising solutions.
The prime locations covered under this contract, including advanced digital LED displays and strategically placed static hoardings, have already started showcasing advertisements from prominent brands. These sites are delivering exceptional visibility in high-traffic areas, making them invaluable assets for advertisers and reflecting our commitment to excellence.
Looking ahead, we are actively working on securing similar high-value projects in collaboration with Indian Railways and other esteemed partners. Such opportunities align with our vision of expanding our footprint and offering advertisers unmatched visibility in prime markets. This partnership is a testament to the confidence placed in Bright by one of India's most respected institutions, and it serves as a foundation for future growth and success."
Shares of Bright Outdoor Media Limited was last trading in BSE at Rs. 499.65 as compared to the previous close of Rs. 493.50. The total number of shares traded during the day was 14250 in over 52 trades.
The stock hit an intraday high of Rs. 524.90 and intraday low of 490.00. The net turnover during the day was Rs. 7229800.00. |
