ITI rises as 44-acre Bengaluru land parcel put up for Rs 1,685 crore e-auction

ITI rose 1.95% to Rs 285.40 after the company said the National Land Monetization Corporation (NLMC) has invited bids for the e-auction of its 44.03-acre land parcel at Krishnarajapuram, Bengaluru, at a reserve price of Rs 1,685.40 crore.

The land parcel is located along Old Madras Road and National Highway 75 in Krishnarajapuram Village. It has approximately 150 metres of frontage along the access road and is accessible through the more than 30-metre-wide Old Madras Road.

The property is currently designated for Commercial (Business) use under the Bangalore Development Authority's RMP 2015, according to the RFP. The document said the maximum area of the land is vacant and the entire 44.03 acres is available for monetisation.

The reserve price works out to Rs 38.28 crore per acre. The sale will be conducted on an as is where is, as is what is, whatever there is and no recourse/no complaint basis. NLMC has been appointed as transaction advisor by ITI for the sale.

The bidding process will comprise an e-tender followed by a forward e-auction. The last date for submission of technical bids and earnest money deposit (EMD) is 16 September 2026, while technical bids will be opened on the same day. The date of the e-auction will be communicated after the opening of technical bids.

Eligible bidders are required to have a minimum average net worth of Rs 421.35 crore, equivalent to 25% of the reserve price, for the specified financial years.

ITI is engaged in electronic equipment manufacturing and providing telecom turnkey solutions for the creation of a national network. As on June 2026, the Government of India held 90% stake in the company.

On a consolidated basis, ITI reported net loss of Rs 32.25 crore in Q1 June 2026 as against net loss of Rs 63.61 crore in Q1 June 2025. Net sales declined 14.65% YoY to Rs 425.03 crore in Q1 June 2026.

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