India, Aug. 8 -- The Brihanmumbai Electric Supply & Transport (BEST) Undertaking is hoping to lease out 35 high-end apartments on Altamount Road, which have functioned as its staff quarters for decades, in a bid to fund its operations and trim losses.

A tender inviting bids from companies interested in leasing the flats was floated last week, with Rs.263 crore as the base price for leasing all 35 flats for a 30-year period, which can be extended by another 30 years. Bids lower than the base price will not be considered, according to the tender document, of which Hindustan Times has a copy.

"We are targeting companies which are looking for residential premises for their senior management at an upmarket location," a senior BEST official t...