ITI Ltd Wraps Up ₹200 Crore Land Deal with C-DOT

24 Jun 2025 , 03:05 PM

ITI Limited, the state-owned telecom manufacturer, has officially wrapped up a long-pending land deal with the Centre for Development of Telematics (C-DOT). The remittance marks the completion of a ₹200 crore transaction involving the sale of a 22.26-acre property situated in Electronic City, Bengaluru.

The deal, which had been in regulatory limbo for years, was resolved under the Alternate Mechanism for Resolution of Commercial Disputes (AMRCD). The payment finalises a settlement between two state-owned bodies and is being executed through a registered sale deed, in line with the revised AMRCD order, first disclosed by ITI in its filing dated July 12, 2024.

With this, ITI has received the full consideration agreed upon, effectively settling all terms under the revised understanding with C-DOT.

On the financial front, ITI is showing signs of recovery. For the quarter ended March 2025, the telecom PSU significantly trimmed its net loss to ₹4.4 crore, a stark improvement from the ₹238.8 crore loss reported in the same period last year.

This rebound, however, was helped by a one-time exceptional gain of ₹62.4 crore, which provided a much-needed buffer to the bottom line. Revenue jumped 74% year-on-year, touching ₹1,045.7 crore, compared to ₹601 crore a year ago indicating better execution and stronger business momentum.

The company also managed to limit its EBITDA loss, bringing it down to ₹28.2 crore from ₹173.8 crore. ITI’s last notably profitable quarter was back in March 2022, when it posted a net profit of ₹356 crore a benchmark it’s now gradually inching toward once again.

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