Summary:
MTNL has approved the sale of its 20,895.60-square-metre property in Powai, Mumbai, to the Income Tax Department for ₹891.53 crore through a G2G transfer or direct sale, subject to the required approvals. The transaction is part of the state-owned telecom operator’s efforts to monetise non-core assets and address its financial obligations. BSNL has been managing MTNL’s operations and network under a 10-year agreement since January 2025, while the government has identified 100 MTNL properties in Delhi and Maharashtra for monetisation. TRAI data shows that MTNL had nearly one million wireline subscribers in July.
State-owned Mahanagar Telephone Nigam Limited (MTNL) said on Thursday that its board has given approval for the sale of its Powai property in Mumbai to the Income Tax Department for ₹891.53 crore.
According to a regulatory filing, the property is situated at Plot-C, Technology Street, Powai, and covers a land area of 20,895.60 square metres.
MTNL said the transaction will be completed either through a government-to-government (G2G) transfer or by way of a direct sale.
The proposed transaction is subject to formal acceptance by the Income Tax Department and is being undertaken with presidential approval and Alternative Mechanism (AM) approval, the company said in its filing.
The sale forms part of MTNL’s efforts to monetise its non-core assets as the state-owned telecom operator continues to deal with financial difficulties.
Operational management of MTNL has now been entrusted to Bharat Sanchar Nigam Limited (BSNL), which is also expected to increase its mobile tower network by March 2027, according to an ETTelecom report published on September 23, 2026.
The Delhi-based telecom operator currently has a combined base transceiver station (BTS) count of around 4,000.
BSNL assumed operational and network management responsibilities for MTNL, which operates in Delhi and Mumbai, under a 10-year service agreement that came into effect on January 1, 2025.
Previously, the government identified 100 MTNL properties for auction and monetisation, comprising 48 properties in Delhi and 52 in Maharashtra, as part of efforts to help the company meet its financial obligations.
According to Telecom Regulatory Authority of India (TRAI) data, MTNL had close to one million wireline subscribers in July this year.
