Signpost India Secures Exclusive Advertising Rights in Kolkata
Filing Summary
Signpost India Ltd has been awarded exclusive outdoor advertising rights under the “Kolkata Streetscape Renaissance” project by the Kolkata Municipal Corporation. The project covers key areas including Park Street, Camac Street, and Theatre Road. The agreement, structured as a Public-Private Partnership, spans 10 years with a possible 2-year extension. The annual fixed revenue to the authority is ₹16 crore, with a 5% escalation every three years. The total projected revenue to the authority, including State GST, exceeds ₹250 crore. The gross advertising revenue over the concession period is approximately ₹450 crore.
Signpost India Ltd has announced the award of exclusive outdoor advertising rights under the “Kolkata Streetscape Renaissance” project. The rights have been granted by the Kolkata Municipal Corporation and cover prominent areas such as Park Street (Mother Teresa Sarani), Camac Street (Abanindranath Sarani), and Theatre Road (Shakespeare Sarani).
The project is structured as a Public-Private Partnership (PPP) and spans a period of 10 years, with an option to extend for an additional 2 years. The agreement includes an annual fixed revenue of ₹16 crore to the authority, with a 5% escalation every three years. The total projected revenue to the authority, including State GST, is estimated to exceed ₹250 crore during the concession period.
The gross advertising revenue over the concession tenure is projected to be approximately ₹450 crore. The contract does not involve any related party transactions, and there is no interest from the promoter group in the awarding entity.
The Kolkata Municipal Corporation is responsible for the administration of the city of Kolkata. It engages in various urban development projects, including infrastructure and public services, to enhance the city’s landscape and facilities.
Signpost India Ltd specializes in outdoor advertising solutions. The company focuses on leveraging strategic locations to deliver impactful advertising campaigns. It aims to expand its footprint in urban advertising through partnerships and innovative projects.