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The National Land Monetization Corporation (NLMC) aims to mobilise up to ₹15,000 crore in the current financial year through the sale of non-core assets of public sector undertakings (PSUs), its chief executive officer (CEO), Rohan Chand Thakur, said on Tuesday.
The corporation has so far helped mobilise around ₹9,000 crore through the sale of non-core assets belonging to Mahanagar Telephone Nigam (MTNL), Bharat Sanchar Nigam Ltd (BSNL) and ITI, among others, Thakur said.
“These are cases where NLMC has done all the work. It has done the valuation,” he said, referring to the corporation’s role in facilitating these transactions.
NLMC has a pipeline of non-core assets worth ₹5,000-6,000 crore belonging to MTNL, BSNL, HIL (India) and Rashtriya Ispat Nigam (RINL) for the current financial year, he added. These assets form part of the corporation’s ongoing efforts to facilitate the monetisation of surplus land and other non-core properties held by government-owned companies.
These funds go to the holding companies, Thakur added.
Several other ministries, including the ministries of steel, chemicals and fertilisers, and telecommunications, have also approached NLMC to facilitate the monetisation of land parcels belonging to their wholly owned subsidiaries, Thakur said.
The government had set up NLMC in 2022 under the Ministry of Finance as a specialised agency to monetise surplus land and building assets of Central Public Sector Enterprises (CPSEs) and other government agencies. The corporation is also mandated to facilitate the closure of CPSEs and streamline the strategic disinvestment process of government-owned CPSEs.
Under the arrangement, assets are transferred to NLMC for holding, management, and monetisation. The corporation also advises and assists other government entities, including CPSEs, in identifying surplus non-core assets and monetising them professionally and efficiently to maximise value realisation. Its mandate, therefore, covers both assets transferred to it and those for which it provides advisory and facilitation support.
On Tuesday, NLMC also held a pre-bid meeting for the e-auction of a 5.119-acre land parcel belonging to HIL (India), with the reserve price set at around ₹830 crore. The proposed sale is part of the corporation’s pipeline of assets being taken up for monetisation.
The meeting was organised to familiarise prospective bidders with the property’s location, key features, development potential, applicable land-use provisions, eligibility requirements and auction terms, the finance ministry said in a press release. Representatives from NLMC, HIL, and transaction adviser CBRE India participated in the meeting and briefed prospective bidders on the property and the bidding process, it added.
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