NEW DELHI: State-owned telecom service provider Mahanagar Telephone Nigam Limited (MTNL) on Monday announced the approval of the sale of its residential property located in Bandra Kurla Complex (BKC), Mumbai, as part of its asset monetisation plan. The telco, in an exchange filing, said that the decision was taken by the company’s Board of Directors through a circular resolution dated 15 December 2025 and has been disclosed under Regulation 30 of the SEBI (LODR) Regulations, 2015. MTNL will sell the property to the National Bank for Agriculture and Rural Development (NABARD) for a total consideration of Rs 350.72 crore. The transaction will be carried out through a government-to-government (G2G) transfer or direct sale.
The property, known as GN Block, BKC Quarters, consists of 28 residential quarters. It is spread over a plot area of 2,680 square metres with a built-up area of 4,019.02 square metres. The property is located at MMRDA Plot No. R-4, BKC, Bandra (East), Mumbai.
According to the company, the sale has been approved in line with the Presidential Approval granted on 17 July 2020 under Article 69(f) of MTNL’s Articles of Association for the monetisation of assets. It has also received approval from the Alternative Mechanism (AM) on 11 November 2025 for selling the property to NABARD.
As per the terms of the deal, NABARD will bear the stamp duty, registration fees, and other incidental charges related to the transfer. MTNL, on the other hand, will clear all dues related to the property prior to the transfer and will also pay the NLMC fee as per the Letter of Understanding dated 29 June 2025.