MTNL Working On Asset Monetisation Plan For Its Mumbai Properties
A man uses mobile phones in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

MTNL Working On Asset Monetisation Plan For Its Mumbai Properties

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State-run Mahanagar Telephone Nigam Ltd. has submitted to the government a list of its assets in Mumbai that can be monetised, the parliament was informed on Saturday.

The development comes nearly a year after the government framed a revival plan for state-run telecom firms which, among other things, includes an in-principle approval for BSNL-MTNL merger.

"MTNL has submitted a set of assets for monetisation through the DIPAM Framework. The assets include land, staff quarters and telephone exchange in Mumbai," Minister of State for Finance Anurag Singh Thakur said in a written reply to a question in the Lok Sabha.

MTNL’s properties in Delhi are not part of this plan, at this moment, Thakur said. In Mumbai, MTNL is looking to monetise three land parcels, two staff quarters and a telephone exchange along with a staff quarter.

According to Thakur, the asset monetisation process is complex, involving multiple stakeholders and agencies, and hence a specific time frame for completion of these transactions cannot be defined at present. International Property Consultants has been appointed for end-to-end transaction advice on these transactions, he said.

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