CalTel to monetise assets to stay afloat

Calcutta Telephones, a part of the Bharat Sanchar Nigam Limited (BSNL), has finalised its plan to monetise the real estate assets of the company in the first phase as part of the revival scheme of the state-run telecom operator, an official said.

The subsidiary of BSNL, which provides telecom services in the city and adjoining areas, has decided to lease out a part of its headquarters, 'Telephone Bhawan'.

"We have decided to lease out assets in 18 different telephone exchange locations and sell off two land parcels as a part of the plan to monetise assets." Calcutta Telephones CGM Biswajit Paul said.

An approval for the first phase of monetising assets has been received, he said.

Real estate consulting firm Knight Frank's regional head Swapan Dutta said, "Calcutta Telephones had sent a long list of its premises in various locations for leasing."