Incoda

What Incoda does

Incoda (legal name: The Incoda) is a privately held, Kolkata-based media solutions company founded in the mid-1980s, operating across outdoor advertising, transit media, television broadcasting, film production, real estate, and decorative artifacts. The company's core business is B2B outdoor and transit advertising, anchored by exclusive rights within the Kolkata Metro Railway ecosystem and a network of more than 1,200 traffic booth media properties across India. Its flagship product is Incoda TV HD, the first optical fiber digital transmission network in India's first underground mass transit system, which broadcasts in Full HD (1080p) across 24-26 Kolkata metro stations and reaches 1.83 crore unique commuters per month. Supporting media products include Metro Train Branding (interior and exterior branding across AC and non-AC coaches), IDM Incoda Dangler Media (clutter-free media positioned in all 13 AC Metro Rakes), Incoda Traffic Booth Media (ITBM) with overhead backlit kiosks at major traffic junctions, Hoardings, and Traffic Signal advertising.

The company's revenue model is primarily advertising-based, monetising captive transit audiences through direct B2B sales to corporate advertisers and marketing agencies. Notable clients include telecom majors (Vodafone, Reliance, Airtel, Aircel, BSNL) and Bengali film production houses, with a stated 30-year track record in film promotion. Beyond advertising, Incoda operates non-core diversification lines: Incoda Movies (Bengali film production co-produced with Artage Films), Samsen (a real estate construction division with multiple Kolkata projects), and Artifacts/Dutta's (decorative artifacts, formerly the Pot Pourrie Creations division). The company markets primarily through its website (incoda.in) and organic social channels (Facebook, YouTube, Instagram), supplemented by WhatsApp and direct enterprise sales via phone and email. It is a bootstrapped, privately held firm with no disclosed parent company, institutional investors, or funding rounds, and its stock of entrees and exits data is limited to a headquarters, an operational office, and a manufacturing facility, all in Kolkata.

Name

Incoda

Legal name

The Incoda

Website

https://incoda.in

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

51–100 employees

Short description

Incoda is a Kolkata-based outdoor and transit media company that sells advertising across Kolkata Metro Railway, traffic booths in multiple Indian states, and its own HD TV channel, serving corporate advertisers (notably telecom and film houses) seeking mass reach.

Ownership category

akta.pro rank

Product category

Outdoor and Transit Advertising Media

NAICS

Advertising Agencies (54181), Television Broadcasting Stations (51612), Advertising, Public Relations, and Related Services (5418)

SIC

Services-Advertising (7310), Services-Advertising Agencies (7311), Television Broadcasting Stations (4833)

akta.pro primary industry

Transit Advertising (Bus, Rail, Subway, Taxi, Airport Transit) (BPAFALAC)

akta.pro secondary industries

Out-of-Home (OOH) Media Buying (Billboards, Transit, DOOH) (BPAFABAE), Transit & Transport OOH Advertising (Bus, Rail, Airport) (MPAAAKAC)

Keywords

• Outdoor advertising
• Transit media advertising
• Metro railway advertising
• Traffic booth media
• Outdoor media solutions

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Outdoor Advertising Media: Revenue from selling advertising space across multiple media properties including metro train branding, traffic booth media, hoardings, and traffic signal advertising. Primarily B2B model targeting corporate advertisers seeking mass reach.
2. TV Channel Advertising: Revenue from broadcasting programs and advertisements on Incoda TV HD channel in Kolkata Metro Railway premises, reaching 1.83 crore commuters monthly.
3. Film Production: Incoda Movies produces Bengali films including 'Hothat Ekdin' and 'Chol Kuntal', diversifying revenue streams into content creation.
4. Real Estate Development: Samsen construction project wing develops real estate projects including Lovelock Place (1.5 Lac Sqr ft), Sunny Park (80,000 Sqr ft), Lansdown (25,000 Sqr ft), and Lake Place (22,000 Sqr ft).

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Incoda sells advertising space and media services across a portfolio of owned media properties in India, including the Incoda TV HD channel broadcasting inside Kolkata Metro Railway stations, over 1200 traffic booth media kiosks nationwide, metro train interior/exterior branding, dangler media in AC metro rakes, hoardings, and traffic signal advertising. Its primary customer is corporate advertisers and business houses seeking mass reach and brand visibility through captive transit audiences and outdoor media.

Product overview

Incoda is a comprehensive outdoor and transit media advertising company operating as a multi-vertical media services provider. The company offers a portfolio of interconnected advertising and media solutions anchored by Incoda TV HD (the flagship digital broadcast network in Kolkata Metro), complemented by physical outdoor media properties including Incoda Traffic Booth Media (ITBM), Metro Train Branding, and IDM Dangler Media. Additional offerings include traditional Hoardings, Traffic Signal Media advertising, a Real Estate Division (Samsen) for construction projects, Incoda Movies for Bengali film production, and Artifacts (Dutta's) for creative artifact design. The company was incorporated in 1986 and serves advertisers seeking wide reach and ROI optimization across Kolkata, West Bengal, and other parts of India.

Differentiator

Problem solved

Functional benefit

Brands

• Incoda TV HD: First optical fiber digital transmission network in India's first underground mass transit system (Kolkata Metro). HD channel broadcasting across 26 metro stations, reaching 1.83 crore commuters monthly. Programs include Gossip Dot Com, Incoda Hit List, Speed Sports, Box Office, First Look, Holly Tour, Incoda Breaking.
• Incoda Traffic Booth Media (ITBM)
• Metro Train Branding
• IDM Incoda Dangler Media
• Samsen
• Artifacts (Dutta's)
• Incoda Movies

Products and services

• Incoda TV HD (ITV HD) A digital television broadcast network operating within Kolkata Metro Railway stations, offering HD programming content including infotainment shows targeted at commuters. It is the first optical fiber digital transmission network and first HD channel in Eastern India, broadcasting across 24-26 metro stations and reaching 1.83 crore commuters monthly.
• Incoda Traffic Booth Media (ITBM) Outdoor advertising media properties consisting of manual and police assistance booths with overhead backlit advertisement kiosks located at traffic intersections throughout India, including over 750 properties in Kolkata and Rest of Bengal, plus properties in Delhi NCR, Telangana, Gujarat, Odisha, and North East regions.
• Metro Train Branding Interior and exterior branding services for Kolkata Metro Railway trains, offering both AC and non-AC coach branding opportunities with high OTS (Opportunity To See) for advertisers.
• IDM - Incoda Dangler Media Clutter-free advertising media placement in all 13 AC Metro Rakes, operating as a push-delivery medium positioned to stand out from competitive advertisements.
• Hoardings Traditional outdoor billboard advertising services for brand visibility and promotion.
• Traffic Signal Media Advertising on signal poles and blinker poles strategically placed at traffic intersections and junctions to maximize audience visibility.
• Samsen (Real Estate Division) Construction and real estate development division with visionary architects focused on residential designs and projects including Lovelock Place (1.5 Lac Sqr ft), Sunny Park (80,000 Sqr ft), Lansdown (25,000 Sqr ft), and Lake Place (22,000 Sqr ft) developments in Kolkata.
• Incoda Movies Bengali film production company that has produced movies including 'Hothat Ekdin' and 'Chol Kuntal' co-produced with Artage Films, with upcoming projects 'Amar Artanad', 'Happy Birthday', and 'Ego'.
• Artifacts (Dutta's) Decorative artifacts and creative design creations for sophisticated homes and offices, formerly known as Pot Pourrie Creations, with the tagline 'CREATIONS BEYOND' - creating décor items from sticks, stones, marbles, peacock feathers, and river rocks.

Quantifiable outcome

• 1.83 crore (18.3 million) unique commuters reached monthly
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Kolkata Metro RailwaycoreStrategic or Co-development PartnerLong-standing partnership with Kolkata Metro Railway for exclusive advertising rights. Incoda developed the first optical fiber digital transmission network in India's first underground mass transit system and operates the Incoda TV HD channel in all metro stations.
• Kolkata Municipal Corporation (KMC)coreChannel Partner/ Reseller/ DistributorGovernment body partnership for placement of traffic control booth media properties with overhead backlit advertisement kiosks at important junctions.
• Transport Department, Govt. of West BengalcoreChannel Partner/ Reseller/ DistributorPartnership with state transport department for traffic booth media installations across West Bengal.
• Public Works Department (PWD)minorChannel Partner/ Reseller/ DistributorPartnership with PWD for placement of media properties at strategic locations.
• Artage FilmsminorStrategic or Co-development PartnerCo-production partnership for Bengali film production - produced 'Hothat Ekdin' and 'Chol Kuntal' together.

Scale indicators8 records

Recent moves10 records

Expansion highlights4 records

Emerging players

• Big Street (Hungama Digital): Indian DOOH platform focused on digital screens in retail and transit locations. Comparable as an OOH operator but differentiated by digital/programmatic capabilities Incoda lacks.
• Konstrukt Content & Media: India-focused OOH and transit media operator with growing city-level presence. Comparable as a smaller-scale OOH franchisee expanding regional inventory.
• One Media Network (DOOH): Indian digital OOH network operating screens across transit and retail. Adjacent competitor illustrating the digital pivot Incoda would need to execute.

Broad incumbents

• Times OOH (BCCL): Part of Bennett Coleman & Co, one of the largest pan-India OOH media owners with significant metro/airport/transit inventory. Larger incumbent competing for the same enterprise advertiser wallets.
• Clear Channel India (Jagran Engage): Indian OOH operator (formerly Clear Channel) with multi-city outdoor and transit media inventory. Comparable as a multi-vertical OOH platform targeting mass-market advertisers.
• JCDecaux India: Global OOH leader with India operations focused on transit and street furniture advertising. Comparable in transit inventory model and large enterprise advertiser relationships.

Direct peers

• Pioneer Publicity Corporation: Long-established Indian OOH company with transit and outdoor media inventory across cities. Comparable in legacy operating model and traditional outdoor advertising focus.
• Laqshya Media Group: One of India's largest OOH advertising companies with strong transit (airport, metro, railway) and outdoor inventory across multiple cities. Directly comparable as a multi-format OOH operator targeting national advertisers.
• Selvel India: Indian OOH advertising company specializing in transit and outdoor media across metro and urban markets. Closely comparable to Incoda's transit advertising focus and B2B advertiser model.

Others

• Den Networks (TV broadcasting / cable): Indian regional TV distribution and broadcasting company. Comparable as a regional content/broadcasting operator and possible counterparty for content distribution partnerships relevant to Incoda TV HD's evolution.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@incodatvkolkatametro471
• Facebookfacebook.com/IncodaTVHD
• Instagraminstagram.com/incodametrotv
• Xx.com/IncodaTvHD
• LinkedInlinkedin.com/company/theincoda

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Incoda