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BSNL begins land monetisation, fair valuation at Rs 20,000 cr
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SME Times News Bureau | 11 Jul, 2019
Public sector Bharat Sanchar Nigam Ltd (BSNL) is in the process
identifying land parcels all over the country for monetisation, which as
per its internal estimate is valued at Rs 20,000 crore in 2018-19.
The
state-run telecom major's corporate office has circulated a list of
land parcels which are proposed for monetisation through the Department
of Investment and Public Asset Management (DIPAM) in the first instance.
Time-bound monetisation of land assets, mobile towers and fibre
networks will help BSNL earn some money in these tough times of falling
revenues and rising losses.
"The total area of land parcels,
which are spread across the country and have in-built structures,
buildings and factories, is 32.77 lakh square metres (sq m) and the
spareable land parcel is 31.97 lakh sq m," said an earlier BSNL
corporate office letter to its circles seeking their comments. "The
fair value of spareable parcel as on April 1, 2015, is Rs 17,397 crore
and the estimated present fair value of these lands is Rs 20,296 crore.
The enhancement in valuation is based on cost infltaion index for FY
2014-15 as 240 and FY 2018-19 as 280.
"The valution of these land
parcels is proposed to be done along with the structures lying in the
parcel after the in-principle approval for sale or long tem lease by the
government. The cost of buildings has not been included in the Fair
Value of land parcels", it added.
BSNL telecom factories at
Mumbai, Kolkata, West Bengal, Ghaziabad, Jabalpur and wireless stations,
as well as other offices and staff colonies have been included in the
list of land parcels to be monetised.
Some of these parcels are
mutated, while some are not, and the status of some of these parcels are
freehold and some are on leasehold.
Struggling with poor cash
flows from services and a severe financial crunch due to ahuge workforce
of 1.76 lakh, BSNL is looking for non-core asset monetisation under the
broad policy of the government where DIPAM is the nodal department.
BSNL
is expected to post losses of over Rs 14,000 crore for the financial
year 2018-19, while its revenue is slated to be around Rs 19,308 crore
as per a written reply to the Lok Sabha by Telecom and IT minister Ravi
Shankar Prasad.
Salary expenditure is set to be a massive 75 per
cent of the firm's total expenses at Rs 14,488 crore. Its provisional
loss in 2015-16 was Rs 4,859 crore, Rs 4,793 crore 2016-17, and Rs 7,993
crore in 2017-18.
BSNL's loss is estimated to balloon to Rs 14,202 crore in 2018-19.
"Low
tariffs due to fierce competition in the mobile segment, high staff
cost and absence of 4G services (except in few places) in the
data-centric telecom market are the main reasons for losses of BSNL,"
Prasad said.
In line with sector trends, BSNL has also seen a dip in its revenue after the entry of Reliance Jio in the market in 2016.
The
company's revenue is pegged at around Rs 19,308 crore for 2018-19,
compared with Rs 25,071 crore in 2017-18 and Rs 31,533 crore in 2016-17.
The government is planning a revival scheme for BSNL and MTNL.
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