MTNL Plans To Raise Rs.5000 Cr Via Divesting Realty Assets

Mahanagar Telephone Nigam Limited (MTNL), the state- run telecom provider, plans to raise an amount of Rs.5000 Cr though divesting their real estate assets. MTNL plans to divest its properties located in Delhi and Mumbai.
What will be the fate of MTNL

MTNL struggles? When Mobile capitalizes!

MTNL has revealed its plans to raise an amount of Rs.5000 Cr through divesting its realty assets located in Delhi and Mumbai. With this plan, the state-run telecom provider has approached a global real estate consultancy.

The debt –driven telecom service provider has directed the real estate consultants to explore the possibility of mixing up of lease and sale. The telecom also has plans to redevelop land parcels on a public – private partnership basis. In short the MTNL’s monetization plans include redevelopment of land parcels, besides leasing and selling.

Overtaking other global real estate consultants like Jones Lang LaSalle, Cushman & Wakefield and CBRE, DTZ has won the MTNL bid. DTZ has been operating in India for nearly a decade. Continue reading