Century Business Media airport advertising reaches 62% revenue

Century Business Media Limited derived Rs 28.57 crore, or 61.52% of FY 2025-26 revenue from operations, from Airport Out-of-Home advertising. The airport share increased from 49.21% in FY 2023-24, while revenue from operations rose from Rs 32.03 crore to Rs 46.43 crore over the reported two-year period.

Why did airport advertising reach 62% of Century Business Media revenue?

Airport advertising reached 61.52% of Century Business Media revenue because Airport Out-of-Home, or AOOH, sales grew faster than total revenue in FY 2025-26. AOOH revenue rose to Rs 28.57 crore from Rs 18.19 crore in FY 2024-25, an increase of Rs 10.38 crore, while total revenue from operations increased by Rs 9.78 crore to Rs 46.43 crore.

The reported two-year trend shows a shift in the service mix. AOOH revenue was Rs 15.76 crore, or 49.21% of revenue from operations, in FY 2023-24, compared with Rs 28.57 crore and 61.52% in FY 2025-26. The FY 2023-24 figures are consolidated while FY 2024-25 and FY 2025-26 figures are standalone, so the disclosure shows a reported category trend rather than a fully like-for-like comparison of entity structure.

Century Business Media sells advertising space inside and outside airport terminals under rights granted by airport authorities. Its terminal formats include digital screens, video walls, backlit panels and branding at check-in, security, baggage-claim and lounge areas, while exterior formats include billboards, digital screens and unipoles around parking areas and approach roads. AOOH revenue therefore depends on the company retaining its rights, maintaining available inventory and converting client requirements into advertising campaigns.

What airport rights support Century Business Media airport advertising?

Century Business Media supports its airport advertising business with exclusive rights at five airports, non-exclusive rights at two airports and marketing rights at three airports. Exclusive rights cover Darbhanga, Deoghar, Patna, Ranchi and Jorhat; non-exclusive rights cover Dimapur and Lilabari; and marketing rights cover Gaya, Agartala and Silchar.

The disclosed rights have different implications for the available inventory. Exclusive rights give Century Business Media sole advertising access at the relevant airport locations, while non-exclusive rights are held alongside other operators. The company has also secured sole advertising rights for the new terminal at Patna Airport, which it says is intended to augment its airport media portfolio.

Century Business Media started airport advertising assignments in 2013, before entering railway advertising in 2018 and metro advertising in 2024. That earlier entry is consistent with AOOH becoming the largest category at Rs 28.57 crore in FY 2025-26, although the prospectus does not disclose revenue by individual airport. Continued airport-led growth would require commercial use of the company’s airport rights and demand for its available formats.

How does railway advertising compare with airport advertising?

Railway advertising remained Century Business Media’s second-largest category in FY 2025-26, but its share declined as airport advertising increased. Railway Out-of-Home, or ROOH, advertising generated Rs 11.52 crore, or 24.82% of FY 2025-26 revenue from operations, compared with Rs 10.53 crore, or 28.73%, in FY 2024-25 and Rs 10.29 crore, or 32.12%, in FY 2023-24.

Railway revenue increased by Rs 1.23 crore between FY 2023-24 and FY 2025-26, whereas airport revenue increased by Rs 12.80 crore over the same reported period. Total revenue from operations increased by Rs 14.40 crore, from Rs 32.03 crore in FY 2023-24 to Rs 46.43 crore in FY 2025-26. This difference explains why railway advertising remained material in rupee terms while its mix share fell by 7.30 percentage points.

Century Business Media holds exclusive advertising rights outside station campuses in the East Central Railway, or ECR, zone. The rights span the Danapur, Dhanbad, Mughalsarai, Samastipur and Sonepur divisions and cover 714 railway stations. The company intends to buy static media at railway stations in Bihar and Jharkhand using issue proceeds, a plan it says is expected to expand railway advertising coverage.

What changed in Century Business Media’s other categories?

Metro advertising began contributing to Century Business Media revenue after the company entered the segment in 2024. Metro Out-of-Home, or MOOH, advertising generated Rs 1.17 crore, or 2.52% of FY 2025-26 revenue from operations, up from Rs 69.45 lakh, or 1.89%, in FY 2024-25; no metro revenue was reported for FY 2023-24.

The MOOH business is based on advertising rights on Platform Screen Doors, or PSDs, at Howrah and Esplanade metro stations. PSDs are automated sliding doors on metro platforms that align with train doors, and Century Business Media uses their surfaces for static advertising. Metro revenue increased by Rs 47.56 lakh in FY 2025-26, less than the Rs 10.38 crore increase in airport revenue.

City-media reporting changed in FY 2025-26. The company separately reported Flex & Mounting revenue of Rs 5.11 crore, or 11.01% of revenue, whereas City Out-of-Home advertising was reported at Rs 7.14 crore, or 19.47%, in FY 2024-25 and Rs 5.98 crore, or 18.67%, in FY 2023-24. Since FY 2025-26 presents Flex & Mounting without a standalone City Out-of-Home line, the disclosed categories are not directly comparable.

Century Business Media can procure temporary media space from third-party hoarding owners for campaigns where it does not hold direct rights. That mechanism permits coverage beyond its operating presence in Bihar, Jharkhand, West Bengal and north-eastern states, but differs from advertising inventory held under direct airport and railway rights. Shop branding is included in Others, which generated Rs 6.25 lakh, or 0.13%, in FY 2025-26.

What does the changing revenue mix mean for Century Business Media?

Century Business Media’s FY 2025-26 mix makes airport advertising its largest operating dependency, with Rs 61.52 of every Rs 100 of revenue from operations generated by AOOH. Revenue from operations rose to Rs 46.43 crore in FY 2025-26 from Rs 36.65 crore in FY 2024-25, while profit after tax increased to Rs 5.56 crore from Rs 4.70 crore.

The business remains spread across more than one service category. Railway advertising supplied Rs 11.52 crore and Flex & Mounting supplied Rs 5.11 crore in FY 2025-26. However, airport and railway advertising together represented 86.34% of revenue from operations, tying the reported revenue profile primarily to transit-media rights, inventory and client campaign demand.

Conclusion

Century Business Media’s move from a 49.21% airport share in FY 2023-24 to a 61.52% share in FY 2025-26 resulted from substantially faster AOOH revenue growth than railway advertising and newer metro advertising. Railway advertising remains the second-largest disclosed category, but airport rights and airport inventory now account for the majority of the company’s revenue from operations.

The disclosed developments to watch are the sole advertising rights at Patna Airport’s new terminal and the intended purchase of static railway media in Bihar and Jharkhand from issue proceeds. Century Business Media also says it may introduce Digital Out-of-Home city formats and acquire assets from smaller holders, subject to business viability, market conditions, approvals and the risks identified in its prospectus.