Mahanagar Telephone Nigam Limited (MTNL), facing severe financial difficulties, has sold the leasehold rights of a prime property in Bandra Kurla Complex (BKC) to the National Bank for Agriculture and Rural Development (Nabard) for ₹350.72 crore. This transaction is part of MTNL's broader asset monetisation strategy aimed at alleviating its debts, which have surpassed ₹36,000 crore. The property, covering 2,680 sq m, includes a building with a built-up area of 4,021.43 sq m and was originally leased to MTNL by the Mumbai Metropolitan Region Development Authority (MMRDA) in April 1998 for a total of 80 years, with 52 years remaining on the lease. MTNL's subscriber base has drastically declined from 5.83 million in 2012 to merely 81,337 as of March 2026, prompting the company to consider monetising its real estate assets, which include various properties in Mumbai and Delhi. Other public sector entities, such as the Securities and Exchange Board of India and the National Stock Exchange of India, are also expanding their presence in BKC, indicating a growing interest in this prime business district.