Mahanagar Telephone Nigam Limited (MTNL) has approved the sale of its residential property located in Bandra Kurla Complex (BKC), Mumbai, as part of its asset monetisation initiative. The approval was granted by the Board of Directors through a circular resolution dated December 15, 2025, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The asset proposed for sale is the GN Block, BKC Quarters, comprising 28 residential units. The property spans a plot area of 2,680 square metres with a total built-up area of 4,019.02 square metres and is situated at MMRDA Plot No. R-4, Bandra (East), Mumbai – 400098.
The Board has approved the transfer of the property to the National Bank for Agriculture and Rural Development (NABARD) through a Government-to-Government (G2G) direct sale mechanism for a total consideration of ₹350.72 crore. The transaction is being executed pursuant to the Presidential approval dated July 17, 2020, under Article 69(f) of the Articles of Association of MTNL for monetisation of assets. The sale has also received approval from the Alternative Mechanism (AM) on November 11, 2025.
Under the approved terms, NABARD will bear the stamp duty, registration charges, and all incidental expenses related to the transaction. MTNL will be responsible for all dues pertaining to the property up to the date of transfer, as well as the NLMC fee in accordance with the Letter of Understanding dated June 29, 2025.
