Govt invites bids for valuation of land to monetise BSNL's non-core assets
This story was originally published at 08:40 IST on 25 April 2025
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NEW DELHI – In a bid to kick off the non-core asset sale exercise for 2025-26 (Apr-Mar), the government has invited bids to carry out the valuation of land parcels of state-owned Bharat Sanchar Nigam Ltd. in five cities of southern states, the National Land Monetization Corp. under the Department of Public Enterprise said in an order dated Wednesday. The properties are in prime locations of major cities, including Kozhikode and Ernakulam in Kerala, Nandi Nagar in Hyderabad, and Bengaluru and Mangaluru in Karnataka.
The empanelled international property consultants can submit their bids from Wednesday till May 7. Before the bids open, top officials of the National Land Monetization Corp. will hold a pre-bid meeting on Monday to apprise them of the details and assist with any questions, should they have. The financial bid-taking process will begin on May 9.
The empanelled international property consultants are SBI Capital Markets Ltd., CBRE South Asia Pvt. Ltd., Ernst & Young LLP, Cushman Wakefield India Pvt. Ltd., KPMG Assurance and Consulting Services LLP, Deloitte Touche Tomatsu India LLP, Colliers International (India) Property Services Pvt. Ltd., Anarock Property Consultants Pvt. Ltd., Jones Lang La Salle Property Consultant (India) Pvt. Ltd., Darashaw & Co. Pvt. Ltd. and RITES Ltd. These consultants are empanelled with the department till Jun. 16.
The winning international property consultants will have to submit the valuation report within 45 days of the agreement.
The government has been trying to monetise non-core assets of public sector undertakings by letting go of properties with little or no business activities. The push to monetise these unused assets also came as a fallout of the government's little success in privatisation and disinvestment of state-owned entities. The National Land Monetization Corp., a special purpose vehicle set up in 2022, was in fact formed to undertake the monetisation of surplus land and assets of public sector enterprises.
Notably, BSNL returned to profitability for the first time since 2007 in the December quarter. The company reported a profit of INR 2.62 billion in Oct-Dec on the back of a reduction in finance costs and overall expenditure. "With these efforts, we expect revenue growth to improve further, exceeding 20% by the end of the financial year," Chairman and Managing Director Robert Ravi had said. End
Reported by Priyasmita Dutta
Edited by Tanima Banerjee
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