The Government plans to put up for sale assets worth Rs 9,000 crore of debt-ridden telecom company MTNL in the next 2027-28 fiscal year, official sources familiar with the development said on Friday. The money will reduce the state-run telecom firm’s debt, estimated at Rs 50,000 crore, including the sovereign bond guarantee.
“For the next fiscal year, 2027-28, the Government has plans to monetise MTNL land assets worth Rs 9,000 crore,” said officials. There were a lot of ownership issues that have been sorted out and now 40 clean and clear properties will be put up for sale.
“MTNL’s total liabilities and debt obligations, we have more than enough cushion in terms of MTNL’s asset base to be able to support the payment of those liabilities, including the SGB. Sovereign Guarantee Bonds are worth roughly Rs 30,000 crores. Including that SGB, total liabilities would be to the tune of about Rs 50,000 crores,” they said, adding that MTNL is paying its employees using revenue generated primarily from property rentals.