How big is the Chennai market for outdoors compared to other Indian cities?
We need to think of revenues and not number of sites. In terms of number of sites, the Chennai market is huge, but in terms of revenues, it is not so high. The Mumbai and Pune markets together would perhaps account for 40 per cent of the total outdoor pie in India. Chennai would, in my estimate, be less than 10 per cent. The cost of hoardings in Chennai has not gone up like in Mumbai. On Marine Drive in Mumbai, most sites on an average would cost between Rs 3 lakh and Rs 4 lakh. In Chennai, the most expensive site would cost that much. In terms of revenues, the Chennai market would be worth Rs 75 crore to Rs 100 crore. Given that it is a highly unorganized market, one cannot give an accurate number. The all India market is estimated to be in the region of Rs 800 crore.
