28 September,2026 08:09 PM IST | Mumbai | mid-day online correspondent
BEST attributed the improvement in the transport division`s financial performance to a fare revision and other decisions taken earlier. Representational pic
Mumbai's Brihanmumbai Electric Supply and Transport Undertaking (BEST) saw its net deficit narrow by 46 per cent to Rs 731.97 crore in 2025-26, compared with Rs 1,361.85 crore in 2024-25, according to its final accounts. The reduction in the deficit was Rs 622 crore compared with the previous financial year, BEST said in a press note issued on Monday.
The electricity division reported a surplus of Rs 442.90 crore during 2025-26, an increase of 22.50 per cent over the previous year. In contrast, the transport division reported a deficit of Rs 1,182.87 crore, which was 31 per cent, or Rs 541 crore, lower than the previous year.
BEST attributed the improvement in the transport division's financial performance to a fare revision and other decisions taken earlier.
The transport division recorded higher income from ticket sales on hired buses, which increased by Rs 235.30 crore.
Other transport income rose by Rs 48.55 crore, while general administration expenses declined by Rs 33.45 crore.
The improvement in the electricity division's finances comes as BEST continues to expand its renewable energy portfolio.
In September, BEST signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India (SECI) for 220 MW of solar power backed by 110 MW/440 MWh of energy storage. The agreement provides for renewable power at a fixed tariff of Rs 2.78 per unit over the 25-year period.
BEST's total power demand is around 1,000 MW, with 33 per cent of its requirement currently met through renewable sources. The latest procurement is expected to increase the renewable share to 43 per cent. The solar power will be generated by renewable energy developers in Maharashtra and supplied through the state grid. The battery storage component will allow BEST to store solar power generated during the day and use it during evening peak-demand periods.
The electricity division also recorded a reduction in expenses of Rs 244.31 crore. BEST said the reduction included Rs 166.92 crore in power-purchase costs, Rs 1.61 crore in administration and general expenses, Rs 16.89 crore in interest on consumers' security deposits, Rs 111.78 crore in interest on loans and Rs 1.84 crore in general administration expenses.
After adjusting a prior-period credit of Rs 331.74 crore against the year's deficit of Rs 731.97 crore, BEST's accumulated deficit stood at Rs 6,534.75 crore as of March 31, 2026.
