BSNL-MTNL To Sell Land Assets, After Awarding ₹132 crore Revival Contract To BCG

BSNL-MTNL To Sell Land Assets, After Awarding ₹132 crore Revival Contract To BCG

The Finance Ministry has partnered with the Telecom Ministry in order to dispose of BSNL and MTNL assets. This is in response to a letter that Telecom Secretary Neeraj Mittal sent to all state governments and central ministries and departments.

Vikrant DurgaleUpdated: Wednesday, May 29, 2024, 03:32 PM IST
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BSNL-MTNL To Sell Land Assets | File photo

The Finance Ministry has partnered with the Telecom Ministry In order to dispose of BSNL and MTNL assets. This is in response to a letter that Telecom Secretary Neeraj Mittal sent to all state governments and central ministries and departments.

"MTNL has assets in Delhi and Mumbai, while BSNL's asset base is dispersed throughout the nation. As according to various reports, in a letter, Mittal stated that the majority of the properties were offered for outright sale to government departments, PSU's, and organizations.

Furthermore, asset monetisation.bsnl.co.in is the dedicated website that BSNL has created. The website lists all of the BSNL/MTNL properties that are up for outright purchase in different regions of the nation.

More than 100 MTNL properties have been designated by the government for direct sale through an auction process. These comprise 52 properties in Maharashtra, which includes Mumbai, and 48 properties in Delhi.

Among them are prominent properties in New Delhi's Connaught Place, the Telephone Bhavan in Colaba, Mumbai, and the famous MTNL Telephone House in Prabhadevi, Mumbai. Further properties can be found in Mumbai's Powai, Andheri, Bandra, Mulund, Vashi, and Worli.

According to reports in Financial Express, Boston Consulting Group (BCG) is working on a three-year road map for Bharat Sanchar Nigam Limited (BSNL) to help it effectively compete with private telecom companies like Jio and Airtel.

BCG Appointed to Revamp

BSNL will pay BCG Rs 132 crore for the advisory service. BCG will offer guidance to the telecom service provider that is losing money in a number of crucial areas, including lowering operating expenses, raising revenue, improving customer satisfaction, leveraging new technologies to increase sales, and putting in place industry-standard sales and marketing strategies, according to Financial Express.

The Department of Investment and Public Asset Management approved the monetisation of six MTNL properties valued at Rs 5,158 crore and BSNL assets worth Rs 18,200 crore, the Department of Telecommunications (DoT) reported to the parliamentary standing committee on communications and IT last year.

The government has taken a number of actions to bring back MTNL and BSNL. A Rs 69,021 crore revival package was given to the companies in 2019 with the intention of lowering their operating expenses.

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