State-run Mahanagar Telephone Nigam Ltd (MTNL) has finalized the sale of its premium residential property in Mumbai to the National Bank for Agriculture and Rural Development (NABARD) for ₹3.51 billion. The sale aligns with MTNL’s asset monetization plan to reduce debt and improve its financial stability.
Mahanagar Telephone Nigam Ltd (MTNL) has announced the sale of one of its prime residential properties in Mumbai to the National Bank for Agriculture and Rural Development (NABARD) for ₹3.51 billion. The move marks a significant step in the PSU’s ongoing asset monetization initiative, aimed at strengthening its financials amid persistent losses.
Key highlights:
The property sale, part of MTNL’s government-approved revival strategy, is expected to generate immediate cash flow and aid in reducing its debt burden.
NABARD’s acquisition underscores sustained demand for premium urban real estate within Mumbai's prime zones, even as PSUs monetize underutilized assets.
MTNL continues to explore further divestments and land monetization opportunities to fund operations and future restructuring efforts.
This transaction aligns with the Department of Telecommunications’ broader plan to improve the liquidity position of telecom PSUs, ensuring long-term viability. Analysts view the deal as a prudent step toward consolidation and focused operational efficiency.
Source: Company filing to stock exchanges and Ministry of Communications update (December 2025).