Shares of Mahanagar Telephone Nigam Limited (MTNL) gained over 3% in early morning trade after the company approved the sale of a prime residential property in Mumbai’s Bandra Kurla Complex (BKC), marking a key step in its ongoing asset monetisation plan.
The approval was granted by MTNL’s Board of Directors through a circular resolution dated December 15, 2025, in line with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The development was disclosed to the exchanges during market hours, prompting positive investor reaction.
The asset approved for sale is the GN Block, BKC Quarters, which consists of 28 residential units. The property is located at MMRDA Plot No. R-4 in Bandra (East), Mumbai – 400098. It spans a plot area of 2,680 square metres and has a total built-up area of 4,019.02 square metres, making it a valuable real estate holding in one of Mumbai’s most premium commercial districts.
According to the disclosure, 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 route. The total consideration for the transaction has been fixed at ₹350.72 crore.
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