NEW DELHI: The Centre is on course to monetise land worth Rs 15,000 crore belonging to central public sector enterprises (CPSEs) during the current financial year through National Land Monetisation Corporation (NLMC), with transactions amounting to Rs 9,000 crore already finalised so far this year, an official told TOI.The land monetisation pipeline for this year includes properties of troubled telecom twins BSNL and MTNL, apart from Rashtriya Ispat Nigam (RINL), defunct Hindustan Machine Tools (HMT), ITL and Hindustan Insecticides (HIL), among others.The NLMC is also targeting additional monetisation of MTNL properties worth Rs 5,000-6,000 crore over the next two years. The telecom PSU, with operations in Delhi and Mumbai, has prime land, including apartments and office complexes.
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It had identified properties for disposal several years ago but progress has been slow. The telecom company, which has been taken over by BSNL, carries a substantial debt burden, with outstandings of around Rs 10,000 crore, according to the official. BSNL also is not out of the woods either, despite govt pumping in thousands of crores for “strategic reasons”.The official said that while transactions of Rs 9,000 crore have been finalised, money is yet to flow in, with more properties targeted to be put up for sale in the remaining months of 2026-27.On Tuesday, NLMC organised a pre-bid meeting for the e-auction of a land parcel owned by HIL in Delhi at a reserve price of Rs 829 crore.“A number of CPSEs reached out to NLMC, after it successfully e-auctioned 180 plots of RINL in Visakhapatnam in two phases, with the first phase netting Rs 366 crore against a reserve price of Rs 312 crore,” NLMC CEO Rohan Thakur told reporters at the event. HIL chairperson and MD Kuldeep Singh told TOI that the next move will see sale of a residential land parcel in the city, which is in vicinity of one currently under auction.Set up in 2022 as part of govt’s broader effort to put underutilised public assets to productive use, NLMC functions under the finance ministry and is mandated to monetise non-core land assets of CPSEs and govt agencies. The money collected from such sales provides an avenue for debt-laden companies to reduce debt and strengthen their balance sheets.
