MTNL Share Price Rises Over 9%; Executes ₹350.72 Crore BKC Property Leasehold Transfer to NABARD

Mahanagar Telephone Nigam Limited (MTNL) has executed a deed of assignment with the National Bank for Agriculture and Rural Development (NABARD) on 30 March 2026.  

The disclosure was made to stock exchanges on the same day under Regulation 30 of SEBI (LODR) Regulations, 2015.  

The agreement relates to the transfer of leasehold rights for a residential property, with MTNL assigning the remaining lease period to NABARD.  

Consideration and Payment 

The total consideration for the transaction is ₹350.72 crore. According to the filing, NABARD has paid the full amount to MTNL at the time of execution.  

No staged payments, deferred components, or additional financial conditions have been indicated as part of the agreement.  

Asset Description 

The property is located at GN Block, BKC Quarters in Bandra (East), Mumbai, within the Bandra Kurla Complex (BKC). It consists of 28 residential units.  

The plot measures 2,680 square metres, with a built-up area of 4,021.43 square metres. The asset falls under MMRDA Plot No. R-4.  

Nature of Transaction 

The transaction has been categorised as a government-to-government transfer, as both MTNL and NABARD are public sector entities. It is not treated as a related party transaction under applicable norms.  

The agreement does not include provisions such as board representation, equity participation, or restrictions on capital structure.  

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MTNL Share Price Performance 

As of April 1, 2026, 10:17 am, Mahanagar Telephone Nigam Ltd (MTNL) share price was trading at ₹23.65, up 10.15% from the previous closing price. 

Conclusion 

The transaction involves the transfer of leasehold rights for a residential property in Mumbai, with full payment completed and no additional contractual terms disclosed beyond the assignment. 

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