This public sector insurance company has assets worth Rs 51 lakh crore. According to the report, the company can start evaluating its assets before starting the sale process.
Life Insurance Corporation (LIC) is preparing to sell its real estate properties located in the metro cities of the country. LIC plans to raise Rs 50-60 thousand crores from the sale of these properties. For this, the company will sell its plots and commercial buildings. LIC has instructed an internal team to start the process of selling properties. According to the information, LIC will start the process by selling its properties in Mumbai.
If we talk about some of the valuable properties of LIC, then these include Jeevan Bharti Building in Connaught Place, Delhi, LIC Building in Chittaranjan Avenue, Kolkata and housing properties in Asiatic Society and Akbarally in Mumbai. According to a report, the total value of these properties during the final valuation is said to be between 50-60 thousand crores. Along with this, LIC is the country’s largest insurance provider and the company that invests the most in the stock market.
Assets will be evaluated.
This public sector insurance company has assets worth Rs 51 trillion (51 lakh crores). According to the report, the company can start evaluating its assets before starting the process of sale. LIC has not evaluated many of its assets and it is expected that these assets can be evaluated at a price five times more than their real value, which will be around Rs 2.5-3 lakh crores.
LIC’s profit crosses 40 thousand crores
Let us tell you that during the financial year 2023-24, the profit of LIC was Rs 40,676 crore. This public sector company ranks third in terms of ownership of land in India. Indian Railways is in second place in this case. It is also known that LIC may form a new entity to manage and sell its properties.
