MTNL board approves Rs 891.53 crore Powai property sale
In short
MTNL shares jumped after its board approved selling its Powai property in Mumbai to the Income Tax Department for Rs 891.53 crore. The move was reported as part of the company’s effort to cut debt.
The sale may help MTNL reduce heavy liabilities, which the government said were around Rs 40,000 crore in FY26. It is not stated when the deal will be completed.
What the reporting says
MTNL shares rallied after the company’s board approved the sale of its Powai property in Mumbai to the Income Tax Department for Rs 891.53 crore. The reported move is part of asset monetisation as the debt-laden PSU seeks to reduce liabilities. The government has said MTNL’s liabilities stood at around Rs 40,000 crore in FY26. It is not stated in the available reporting when the sale will close.
Why it matters
MTNL approved the sale of its Powai property in Mumbai to the Income Tax Department for Rs 891.53 crore, and its shares rose after the news. The reported reason is asset monetisation to help a debt burden that the government put at about Rs 40,000 crore in FY26. The source does not state the closing timeline or whether the full amount will directly reduce debt.