Mumbai: State-owned Mahanagar Telephone Nigam Limited (MTNL) has approved the sale of its residential property in Bandra Kurla Complex (BKC), Mumbai, to the National Bank for Agriculture and Rural Development (NABARD) for Rs 350.72 crore, as part of its ongoing asset monetisation initiative.
Board Approval and Transaction Details
The decision was taken through a circular resolution by MTNL’s Board of Directors on December 15, 2025. The property, known as GN Block, BKC Quarters, consists of 28 residential units located on MMRDA Plot No. R-4, Bandra (East), Mumbai. The plot covers an area of 2,680 square meters with a built-up area of 4,019.02 square meters.
The transaction will be executed through a Government-to-Government (G2G) transfer or direct sale to NABARD. This move is part of MTNL’s asset monetisation strategy, aimed at optimising non-core assets and strengthening its financial position.
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Regulatory and Legal Approvals
The sale is in line with the Presidential approval dated 17 July 2020 under Article 69(f) of MTNL’s Articles of Association, authorising asset monetisation. Additionally, the Alternative Mechanism (AM) approved the sale to NABARD on 11 November 2025.
Under the terms of the agreement, NABARD will bear the stamp duty, registration fees, and incidental charges related to the transaction. MTNL, on the other hand, will clear all dues prior to the transfer and pay the NLMC fee in accordance with the Letter of Understanding dated 29 June 2025.
Strategic Move for Asset Monetisation
This transaction is a key step in MTNL’s broader strategy to monetise non-essential assets and channel resources into its core telecom operations. The sale also reflects a growing trend among public sector enterprises to leverage idle or surplus properties to improve financial health.
About MTNL
Mahanagar Telephone Nigam Limited (MTNL) is a state-owned telecom operator and a public sector undertaking (PSU) providing fixed-line and mobile services in Mumbai and Delhi. Established in 1986, MTNL has been a pioneer in introducing modern telecom services in India and continues to play a vital role in enhancing connectivity and digital infrastructure in its operational areas.
