The government is considering a proposal to hive off real estate owned by sick public sector companies in Mumbai, Kolkata, Pune and Ahmedabad to state-owned National Buildings and Construction Corporation (NBCC), before selling off the chronically loss-making entities.
According to media reports, NBCC, which is developing real estate in the national capital, has shown interest in prime plots owned by companies such as Bengal Chemicals, National Bicycle Corporation and Richardson & Cruddas in Mumbai’s Worli and Byculla.
Similarly, in Kolkata, the company is looking at land owned by NJMC as well as state-government entities such as Lilly Biscuits and West Bengal Warehousing Corporation.
The government is keen on maximizing its disinvestment receipts and is looking at various ways to maximize its mop-up to meet the stiff Rs 48,000 crore target fixed by finance minister Arun Jaitley for the current financial year. Although the BJP government is continuing with the UPA’s disinvestment policy, it has not ruled out looking at strategic sale in profit-making PSUs as well.

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