It’s impossible to miss the vast tracts of land owned by telecom operator Bharat Sanchar Nigam Ltd (BSNL) in Mumbai’s western suburb of Borivali. In a city infamous for its congestion and general lack of space, state-owned BSNL’s wealth of property is the rarest of exceptions. Now, with the beleaguered telco fighting for its future, it is considering selling some of its landholdings. These include the barren 42.43-acre plot in Borivali, a 45-acre housing colony in Deonar, and a 3.5-acre plot in Juhu that boasts a guesthouse and a 12-storey residential building.
These three land parcels in Mumbai—arguably the most promising ones in BSNL’s portfolio—are among the 14 assets BSNL wants to monetise to raise Rs 20,000 crore (~$2.7 billion) in four years.