MTNL is reportedly awaiting the government's approval for proposal to sell unused properties in New Delhi and Mumbai. The company is likely to fetch Rs 3500 crore - Rs 4500 crore from sale of these properties. Moreover, the reduction of Rs 15000 crore loan book depends on Realty monetization.
MTNL was set up by the Government of India to upgrade the quality of telecom services, expand the telecom network, and introduce new services and to raise revenue for telecom development needs of India's key metros -- Delhi and Mumbai.
