New Delhi: State-owned Bharat Sanchar Nigam Limited (BSNL) plans to recover outstanding dues from its enterprise clients and is hoping to recover the bulk of over Rs 3,000 crore receivables in the next two-three months, its chairman said.
The move comes at a time when Bharat Sanchar Nigam Ltd (BSNL) is facing mounting pressure on its financials, and it even delayed payment of employee salaries for the second time this year. BSNL on August 5 had released July salaries of employees.
“There are outstandings from our enterprise customers, which is more than Rs 3,000 crore. We are following up with them aggressively and on a day-to-day basis … there is success coming to us,” BSNL Chairman and Managing Director P K Purwar told PTI.
Purwar said that while it is difficult to give a definite timeline for recovery of the full amount which is due, BSNL hopes to recover a “substantial” portion of its receivables from clients in the next two-three months.
The corporation is also eyeing increased earnings from renting out its premises at various locations – the target for rental income has been set at about Rs 1,000 crore this year, from the previous level of Rs 200 crore. As part of this plan, BSNL plans to increase utilisation of its existing buildings, and lease out more space.
BSNL’s loss is estimated to be around Rs 14,000 crore with a decline in revenue to Rs 19,308 crore during 2018-19. Its losses have risen steadily from Rs 4,793 crore in 2016-17 to Rs 7,993 crore in 2017-18 and are estimated to have swollen to Rs 14,202 crore in 2018-19.