MTNL, Bihar Govt Sign MoU For ₹68.43 Crore Asset Transfer; Shares Up 2.41%

Mumbai, March 24: Mahanagar Telephone Nigam Limited (MTNL) has signed a memorandum of understanding with the Government of Bihar to transfer leasehold rights of seven residential properties in New Delhi, as part of its ongoing effort to monetise non-core assets.

The properties are located within the Asian Games Village Complex in Khelgaon and carry a combined valuation of ₹68.43 crore, according to the company’s exchange filing. The transfer will be completed subject to routine approvals, including a no objection certificate and execution of lease transfer documentation with the Delhi Development Authority.

Bihar government has already deposited the full consideration amount, which suggests the transaction has moved beyond intent and is now largely in the execution phase.

Stock Market Snapshot

MTNL share price was at ₹23.81, up 2.41% as of 15:30 IST on March 24, 2026, according to exchange data. The stock moved within a relatively tight range through the day, touching ₹24.30 at the higher end and ₹23.20 on the lower side.

The MTNL share price reaction remained contained. Investors appear to be acknowledging the development, but without assigning outsized significance to it.

Straightforward Structure Keeps Process Clean

The deal has been structured as a government-to-government transfer, which removes several layers of complexity typically seen in asset transactions.

There are no related party considerations, and no special conditions attached. The portfolio itself includes a mix of flats and bungalows, with individual valuations ranging from roughly ₹5 crore to ₹13 crore.

In practical terms, this is a clean transfer. 

Real Estate Continues To Support The Balance Sheet

MTNL company has been steadily unlocking value from its real estate holdings, particularly in high-value locations like Delhi.

With its core telecom operations under pressure for years, such monetisation exercises have become an important, if incremental, source of financial support. They do not solve structural challenges, but they do provide breathing room.

Regulatory Clearances Awaited

This transaction will not change MTNL’s trajectory overnight. But it does signal progress.

Completion now depends on regulatory clearances and documentation. Once done, the inflow will strengthen liquidity, even if modestly in the broader context.

Source: https://nsearchives.nseindia.com/corporate/MTNL_24032026152925_SD_MOU_24032026.pdf