BENGALURU, JANUARY 29, 2026: State-owned telecom equipment maker ITI Limited has received a significant Earnest Money Deposit (EMD) of ₹16 crore from the Central Goods and Services Tax (CGST) Department, Government of India. The disclosure was made to the stock exchanges today under SEBI's listing regulations.
Key Details of the Transaction:
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Amount Received: ₹16 Crores (received on January 28, 2026)
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Purpose: As a 2% Earnest Money Deposit for the procurement of an ITI-owned land parcel by the CGST Department.
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Property Details: A plot admeasuring 21 acres, located at K.R. Puram, Bengaluru.
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Indicative Value: The EMD is based on an indicative value of ₹800 crores for the land parcel.
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Valuation Process: The final valuation of the land will be determined by the National Land Monetization Corporation (NLMC) as per Department of Public Enterprise (DPE) norms.
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Next Steps: The EMD will be adjusted against the final transaction value once the sale is finalized.
Strategic & Financial Implications:
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Asset Monetization: This move is part of ITI's asset monetization strategy to unlock value from its non-core real estate assets. The company holds significant land banks across India.
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Liquidity Boost: The successful conclusion of this transaction, potentially worth ₹800 crore, would provide a substantial liquidity infusion for the telecom PSU, aiding its operations and potential modernization plans.
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Government Deal: The involvement of the CGST Department and NLMC indicates a structured, government-to-government (G2G) transaction, which may streamline the process.
About ITI Limited:
ITI Limited is a premier telecom and technology company under the Department of Telecommunications, Government of India. It manufactures a wide range of telecom products and offers turnkey solutions. The company has been actively working on a revival strategy, which includes leveraging its real estate assets.
The market will closely watch the final valuation by NLMC and the subsequent completion of this high-value land sale.