Through the sale of properties, BSNL earned almost Rs 600 crore previous fiscal year

Bharat Sanchar Nigam Limited (BSNL), a state-owned company, earned nearly Rs 600 crore from the sale of its underutilized assets around the country in the most recent fiscal year. By renting out other underutilized buildings around the nation, the telecom service company made an additional Rs 319.31 crore after selling a property for Rs 311.78 crore.

The Central Board of Secondary Education (CBSE) purchased the premises in Anna Nagar, Chennai, according to the Department of Telecommunications (DoT), which also made an advance payment of Rs 151 crore. Similar to this, the Indian Institute of Information Technology, Jhalwa, purchased its second site in Prayagraj.

The business also offered houses for sale in other regions of India. However, regulatory obstacles provide significant challenges for the telecom company and its subsidiary, MTNL, in their attempts to monetarize. At the moment, MTNL has an enormous portfolio consisting of 281 properties in desirable areas such as Delhi and Mumbai.

The Delhi Development Authority (DDA) in Delhi puts a spanner in the works by requiring a sizeable 50% cut of any proceeds from the sale of MTNL assets. Similar circumstances exist in Maharashtra, where the company’s attempts to monetarily expand have been thwarted by the state government itself. At the moment, BSNL offers roughly 5,080 empty locations for rent throughout the country.

The legal difficulties at hand are the reason for these properties’ muted reaction. State governments and other authorities are involved in the properties, which are dispersed around the nation, as you are aware. These states are often refusing clearance. DDA is seeking a 50% profit share in the Delhi case. These are the reasons why monetizing MTNL and BSNL is challenging, according to a DoT official.