Mahanagar Telephone Nigam Limited (MTNL) has executed a significant deed of assignment for its leasehold property with the National Bank for Agriculture and Rural Development (NABARD). The transaction, valued at ₹350.72 crore, involves the transfer of leasehold rights for MTNL’s residential property located in GN Block, BKC Quarters, Bandra (East), Mumbai.
The property in question comprises 28 quarters, with a plot area of 2680 square metres and a built-up area of 4021.43 square metres, situated at MMRDA Plot No. R-4, BKC, Bandra (East), Mumbai–400 098. NABARD has already paid the full consideration amount of ₹350.72 crore for the unexpired balance of the lease term.
This transaction is a government-to-government transfer, and as such, it does not fall under related party transactions. There are no special rights or significant terms attached to the agreement, such as rights to appoint directors or share subscription rights.
The disclosure of this transaction complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and is further detailed in SEBI Circular No. HO/49/14/14(7)2025-CFD-PoD2/1/3762/2026 dated January 30, 2026.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by Markets Desk before publication.