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After year-long pause, BMC set to greenlight new hoardings: Bright Outdoor Media
Bright Outdoor Media is projecting a 40–45% revenue growth in the current fiscal year, backed by rising digital adoption, infrastructure developments, and upcoming BMC elections.
The Out of Home industry had been in a state of flux following the Ghatkopar hoarding collapse that claimed 17 lives last year.
The Brihanmumbai Municipal Corporation (BMC) is expected to resume granting permissions for new hoardings across the city after the monsoon, according to Bright Outdoor Media Limited. The Out of Home industry had been in a state of flux following the Ghatkopar hoarding collapse that claimed 17 lives last year.
BMC had put a pause on all new hoarding approvals in the wake of the tragic incident. The green light for new hoardings has been stalled for nearly a year. Now, with the monsoon approaching and a revised advertising policy in the works, Bright Outdoor Media Limited during the earnings call indicated a revival of the permit process is on the horizon.
During the earnings call, Dr. Yogesh Lakhani, Chairman and Managing Director of Bright Outdoor Media Limited stated, "BMC has stopped the permission since the last 1 year. The permission for LED has started and the permission for hoardings has been stopped since the last 1 year. It is going to start soon after the rain. So, the new hoardings that will come, we buy hoardings from them and do trading. And we also do permitting."
Despite the pause in new hoarding permissions, Bright's margins have consistently increased. “Clients are coming in daily. Thousands of buildings are being constructed, and our hoardings continue to deliver 24x7 visibility,” said Lakhani. “Even with the rise of social media, traditional outdoor media holds unmatched scale — especially when TV channels launch new shows or movies.”
When asked if there will be an increase in number of hoardings after BMC initiates to permit new hoardings in the city, Lakhani said, "Maximum hoardings will increase by 1,000-2,000. Earlier, 3,500 hoardings were in Mumbai. Later, when metro came, most of the hoardings were removed. Today, BMC has 1,000-1,200 hoardings. 1,000-1,200 hoardings are in railway and other areas. Now after getting the permission it will increase."
Bright Outdoor Media is projecting a 40–45% revenue growth in the current fiscal year, backed by rising digital adoption, infrastructure developments, and upcoming BMC elections. For FY25, the company reported a revenue of ₹126 crore, up 18.8% year-on-year. EBITDA stood at ₹26 crore, reflecting a margin of 20%, while PAT rose to ₹19 crore — a YoY growth of 18.9%.
Abhishek Sharma, Vice President of Bright Outdoor Media during the earnings call said, “We are looking ahead for a good festive season altogether. And, of course, like I said, BMC election and other things which are lined up is going to give us a good, ROI for the kind of investment that we have made in. The last year was the year for investment, was the year of investment for us. I think this year we are going to realize a lot of it from the kind of investment we have made.”
Bright Outdoor Media is also diversifying into the digital and integrated media ecosystem. Starting July 5, the company will roll out a new 10-member team, featuring veterans with 25+ years of experience across print, radio, events, PR, cinema, malls, and celebrity management. The digital expansion is expected to contribute 20–25% additional revenue growth.
The Brihanmumbai Municipal Corporation (BMC) generated ₹234.783 crore from advertisement and hoarding fees in 2024-25, compared to ₹157.8492 crore in 2023-24, marking a 48.74 percent increase in revenue from BMC's license department.
Chanda Jadhav, Deputy Commissioner (Special) of the BMC, had told Storyboard18, “BMC’s advertising policy is currently in progress. We are awaiting the submission of the Bhosale Committee report, which will inform our next steps.”
The May 2024 tragedy has amplified public and industry calls for stricter oversight in the OOH sector. Complicating regulation efforts, there are eight different authorities in Mumbai responsible for granting hoarding permissions, including the BMC, Railways, Mumbai Metropolitan Region Development Authority (MMRDA), BEST, among others. This fragmented system has made it difficult to monitor illegal sites and conduct regular inspections of authorized ones.
BMC officials indicated they are awaiting the final report from former Allahabad High Court Chief Justice Dilip Bhosale, who was appointed by the Maharashtra state government to lead the inquiry into the hoarding collapse. They aim to integrate key recommendations from this report into their forthcoming advertising policy.
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