Mahanagar Telephone Nigam (MTNL) has started the process to monetise assets worth Rs 23,000 crore as it aims to turn profitable in the next fiscal year. The company has already submitted plans to the Department of Investment and Public Asset Management (DIPAM) to monetise Rs 6,200 crore worth assets that include 36 acres of land bank in Mumbai, shops-cum-offices in Delhi, and residential quarters in Noida etc.
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.
