Government places MTNL & BSNL assets worth ₹970cr on sale

The asset monetisation is along with the Rs 69,000 crore recovery scheme for MTNL and BSNL, which the government passed in October 2019.

The government has registered for sale real estate assets of state-run telecom firms MTNL and BSNL at a reserve rate of about Rs 970 crore, according to reports published on the DIPAM website.

BSNL properties established in Hyderabad, Chandigarh, Bhavnagar and Kolkata have been posted for sale at a reserve price of about Rs 660 crore. The Department of Investment and Public Asset Management (DIPAM) website has registered MTNL assets placed in Vasari Hill, Goregaon in Mumbai for sale at a reserve price of about Rs 310 crore.

MTNL’s 20 flats placed in Oshiwara have also been placed for sale as part of the asset monetisation strategy of the firm. The flats comprise two units of a 1-room set, 17 units of 1 bedroom hall and kitchen (BHK) and one unit of 2 BHK. Their reserve rates vary from Rs 52.26 lakh to Rs 1.59 crore. The e-auction for MTNL assets will occur on December 14.

The asset monetisation is along with the Rs 69,000 crore recovery scheme for MTNL and BSNL, which the government passed in October 2019. Both the public sector firms were to recognise and monetise assets worth Rs 37,500 crore by 2022.

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