- The Centre aims to monetise over Rs 15,000 crore through NLMC in fiscal 27
- NLMC targets surplus land and assets from CPSEs like MTNL, BSNL, RINL, ITI, HIL
- Rs 9,000 crore worth of land monetisation has been completed so far by NLMC
The Centre is targeting land monetisation of over Rs 15,000 crore in fiscal 27 through the National Land Monetisation Corporation or the NLMC, with properties belonging to MTNL, BSNL, RINL, ITI and HIL among assets for sale, as per a government official. The NLMC is a Finance Ministry-owned entity which is tasked with unlocking value from surplus and non-core land, and building, assets held by central public sector enterprises and other central entities.
The FY27 target marks the continued push by the Centre to monetise idle public-sector property and garner funds for companies under debt. The official added that the corporation has completed land monetisation worth around Rs 9,000 crore so far.
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MTNL's land assets are expected to be a major part of the government's monetisation drive. The Centre is targeting additional monetisation of MTNL properties worth Rs 4,000-5,000 crore over the next two years. The proposed monetisation comes as the telecom company continues to carry a substantial debt burden, with outstanding debt of around Rs 10,000 crore currently, according to the official.
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BSNL, RINL, ITI Among Other CPSEs - The Pipeline
Apart from MTNL, land and property assets belonging to Bharat Sanchar Nigam Ltd. (BSNL), Rashtriya Ispat Nigam Ltd. (RINL), Indian Telephone Industries Ltd. (ITI Ltd.) and Hindustan Insecticides Ltd. (HIL) are also expected to contribute to the FY27 monetisation target. This is part of the Centre's broader effort to put underutilised public assets to productive use. Several CPSEs hold land and buildings that are not required for their core operations.
For the government, the exercise is aimed at unlocking capital tied up in non-core properties. For the companies concerned, the proceeds could provide an avenue to reduce debt and strengthen their balance sheets.
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