BSNL, MTNL, RINL properties worth Rs 13,500 crore set for monetisation: Report

The Department of Public Enterprises (DPE) has given final approval for the monetisation of government properties worth an estimated Rs 13,500 crore, paving the way for the National Land Monetisation Corporation (NLMC) to bring a set of high-value assets belonging to MTNL, BSNL and Rashtriya Ispat Nigam (RINL) to the market.

The programme covers 23 prime land parcels, commercial properties and residential complexes spread across nearly 200 acres in New Delhi, Mumbai, Bengaluru, Chennai, Goa and Kolkata, the Economic Times reported. Officials told ET that the Rs 13,500 crore valuation is an estimate and the actual proceeds could be higher, particularly given the prime locations of several properties.

NLMC has begun valuation exercises and is targeting monetisation worth around Rs 7,500 crore by the end of the current financial year. The remaining properties are likely to be monetised in 2027-28.

“Monetisation is high on priority and we are intending to conclude at least half of the sales by the end of this fiscal and some of them may conclude next year,” a senior official said.

The Centre is also seeking to maximise returns from these assets. Several BSNL and MTNL properties are located in premium areas where strong demand could help the government secure prices above current market valuations.

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Prime properties in major cities

Among the key assets are MTNL land parcels in Delhi’s Chanakyapuri, Hauz Khas, Vasant Vihar and Netaji Nagar. NLMC has already appointed international property consultants and IBBI-registered valuers to assess the Chanakyapuri, Hauz Khas and Vasant Vihar properties.

The list also includes BSNL properties in Santacruz West in Mumbai, Madhyamgram near Kolkata airport and multiple locations in Hyderabad. A 45.58-acre BSNL parcel at Bambolim in Goa is among the larger assets. Another significant property is 12.89 acres of BSNL’s Telecom Factory in Alipore, Kolkata.

In Hyderabad, BSNL’s Regional Telecom Training Centre at Gachibowli spans 21.98 acres. NLMC has also received approval to monetise 44.03 acres of ITI land at KR Puram in Bengaluru and 18.17 acres of RINL land at HB Colony, Maddilapalem in Visakhapatnam.

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NLMC has previously monetised government assets successfully. In March 2024, it auctioned RINL’s non-core properties in Visakhapatnam for Rs 242.88 crore, 15.9% above the reserve price. It later facilitated a Rs 226-crore transaction involving a BSNL property in Lucknow.

The latest move is part of the Centre’s broader effort to raise non-debt capital receipts while maintaining fiscal consolidation. The FY27 Budget targets a fiscal deficit of 4.3% of GDP and has budgeted Rs 84,000 crore in non-debt capital receipts. Proceeds from government asset monetisation are classified as non-debt capital receipts.