Mahanagar Telephone Nigam has approved the sale of its property at Powai, Mumbai, to the Income Tax Department for ₹891.53 crore. This transaction marks a specific asset monetisation step for the state-owned telecom company, executed through a government-to-government transfer.

Transaction details

The Board of Directors of Mahanagar Telephone Nigam approved the proposal via a circular resolution dated October 1, 2026. The property in question is located at Plot-C, Technology Street, Powai, Mumbai. The sale involves a land area of 20,895.60 sqm and is structured as a direct sale or Government-to-Government (G2G) transfer.

The transaction is contingent upon the receipt of formal acceptance from the Income Tax Department and has secured both Presidential Approval and Alternative Mechanism (AM) approval. This development updates previous reports which cited a property value of ₹900 crore, providing a precise final valuation for the divestment.

The move represents a significant divestment of non-core assets by the government-owned telecommunications enterprise, aimed at streamlining operations and potentially improving financial health through asset monetisation.

Mahanagar Telephone Nigam Limited informed stock exchanges that the Department of Telecommunications (DoT) has extended the additional charge of the post of Director (HR & EB) to Dr. Kalyan Sagar Nippani. The extension is effective from October 1, 2026, to December 31, 2026.

Dr. Nippani currently serves as Director (Human Resources) at Bharat Sanchar Nigam Limited (BSNL). The DoT order states that this interim measure ensures the post does not remain vacant and is subject to the approval of the Appointments Committee of the Cabinet (ACC).

Extension Details

The extension was granted via a letter dated September 30, 2026, referencing a previous order from March 24, 2026. The directive specifies that the additional charge continues until further orders or the end date, whichever is earlier.

Conditions of Appointment

The order explicitly notes that during the period of holding this additional charge, Dr. Nippani will not be entitled to any additional remuneration. The decision was issued with the approval of the Minister-in-charge for Communications.

MTNL stated that this disclosure complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding the disclosure of events or information.