BSNL has partnered with MSTC to auction 13 surplus properties situated at prime locations in five states, the company said on Monday. The company has invited bids by December 5 for sale of 13 properties in Andhra Pradesh, Madhya Pradesh, Gujarat, Telangana and Uttar Pradesh, BSNL said in a statement.
“BSNL has entered into an agreement with MSTC for online sale of properties through MSTC portal,” the public sector telecom firm said.
Loss-making BSNL had identified 14 properties worth Rs 20,160 crore and submitted the list for sale to the Department of Investment and Public Asset Management (DIPAM) as part of the telecom corporation’s ambitious asset monetisation plans.
In October 2019, the government had approved a Rs 69,000-crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and giving VRS to employees so that the combined entity turns profitable in two years.
“BSNL owns various land and building properties all over India and is aggressively pursuing monetisation of its surplus properties, aiming to invest the proceeds in expanding its telecom network and revival of the company,” the PSU firm said.
BSNL said that besides 13 properties listed for sale, there are more properties in the pipeline and will be put to auction soon.
The properties put on sale are located at Tadepalligudem, Patancheru and Kondapalli in Andhra Pradesh, Bharuch and Surat in Gujarat, Purani Itarsi and Dewas City in Madhya Pradesh, Lucknow and Bijnor in UP.