BHARAT SANCHAR NIGAM LIMITED
BALANCE SHEET AS AT 31ST MARCH 2002
	SCHEDULE	As at 31st March 2002		As at 31st March 2001
		(Rs.000's)		(Rs.000's)
SOURCE OF FUNDS
Shareholders' Funds
Capital	A	125,000,000		50,000,000
Preference Capital pending allotment		-		75,000,000
Reserves & Surplus	B	437,428,000		339,079,523
Loan Funds
Secured Loan	C	5,100,000		5,100,000
Unsecured Loans	D	104,286,451		107,983,258
Total		671,814,451		577,162,781
APPLICATION OF FUNDS
Fixed   Assets
Gross Block	E	717,100,695		563,930,589
Less: Depreciation		127,878,583		38,580,678
Net Block		589,222,112		525,349,911
Capital Work-in-Progress	F	108,262,415		91,369,364
		697,484,527		616,719,275
Current Assets and Loans & Advances
Inventories	G	37,951,084		26,283,573
Sundry Debtors	H	33,514,656		38,310,554
Cash & Bank Balances	I	23,607,635		17,773,563
Loans & Advances	J	75,760,621		58,048,119
		170,833,996		140,415,809
Less : Current Liabilities & Provisions
Liabilities	K	180,626,351		177,450,595
Provisions	L	23,069,166		12,488,477
		203,695,517		189,939,072
Net Current Assets		(32,861,521)		(49,523,263)
Miscellaneous Expenditure	M	-		-
(to the extent not written off or adjusted)
Inter Circle Remittance (Refer Note 21.1 on Schedule U)		7,191,445		9,966,769
Total		671,814,451		577,162,781
Accounting policies	T
Notes to Accounts	U
This is the Balance Sheet referred	The Schedules  referred to  above form
to in our report of even date	an integral part of the Balance Sheet
	For and on behalf of Bharat Sanchar Nigam Limited
H.Singh	Prithipal Singh
Partner	(Chairman and Managing Director)
For and on behalf of