Co to sell around 2000 acres land of 5 CPSEs in 3-6 months: NBCC

Anoop Kumar Mittal, CMD, NBCC talking about the company’s plan to sell sick Central Public Sector Enterprises (CPSEs) says they have identified 5 of them for the first phase. These include HMT Watches, HMT Bearing, Karnataka steel plant and others.

Company was appointed as the land management agency by the government to sell land of sick CPSEs

Put together, the company plans to sell around 2000 acres of land, said Mittal. The whole process is likely to be completed in 3-6 months, said Mittal.

In a couple of weeks, another set of CPSE land would be on offer, he said.  The revenue accretion will depend on each land parcel. However, it is expected to be a profitable venture.

“The company would get 0.5 percent of transaction value for each deal, said Mittal.

For entire interview, watch video