7 Seas India Pvt Ltd has recently been awarded the exclusive outdoor advertising rights at four railway stations in Mumbai – Churchgate, Marine Lines, Charni Road and Grant Road. The contract is for a period of one year and includes advertising rights on the glow signs and other displays already installed at these stations.
Officials close to the development have said that 7 Seas had bagged this tender called by the Mumbai Railway Authority by quoting a figure of Rs 10.5 crore.
The sources further said, “The tender for the four stations was first called by the Mumbai Railways and then cancelled as no one except 7 Seas had taken part. As a result, the committee reviewed the bidding amount and awarded the advertising rights on a trial basis for one month. The contract has now been extended to one year. Of the four stations, Churchgate has gone for an approximately Rs 65 lakh per month, while the other three have gone for approximately Rs 7 lakh per month per station.”
Amarjit Singh, the owner of 7 Seas India told exchange4media, “No one was ready to take up the advertising rights for these stations owing to the economic slowdown. We took this as an opportunity and went ahead for the short term advertising rights for the four stations as they fall on the western line.”
On how lucrative this deal would be for 7 Seas, Singh said, “It is going to be tough in the initial phase as the sentiments of the market and the advertisers isn’t great, and it might also be that we might not breakeven. But that is not a worry factor for us as our main purpose is to make our presence felt in Mumbai.”