04:53 am - Thursday 27 April 2017

GoM likely to discuss unlocking value of BSNL and MTNL property, today

By insightVAS - Fri Jan 31, 3:07 pm

A Group of Ministers (GoM) involved in the revival of BSNL and MTNL may meet today to discuss ways of unlocking value of property held by both the PSUs. It may fetch the operators around Rs 14,000 crore .

According to a source, BSNL is looking to get government’s nod to monetise 82 land parcels across various locations and it may fetch a minimum Rs 13,500 crore. BSNL has proposed to take up pilot project for 10 of these 82 land parcels. Only five out of the ten land parcels have been initially shortlisted for seeking GoM’s nod.

MTNL has approached for in-principle nod of the GoM to start asset modernisation through renting and developing it real estate. The company expects that through this process it will be able to realise Rs 150-200 crore in short term and Rs 300-400 crore in the medium term.

BSNL had posted loss of about Rs 7,784 crore in financial year 2012-13. MTNL’s net loss widened to Rs 5,321.12 crore in 2012-13 from Rs 4,109.78 crore in FY’12.

The GoM’s previous decisions, including refund of fee for broadband wireless spectrum which cumulatively amounted to Rs 11,258 crore and bearing burden of pension paid to MTNL staff, have brought some much-needed relief to the ailing public sector units.

Both the PSUs expects to turn profitable by 2017-18.

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