India, Dec. 17 -- The state-owned telecom operator Mahanagar Telephone Nigam Limited (MTNL) has informed stock exchanges of its plan to sell residential real estate in Mumbai's Bandra Kurla Complex (BKC). The move forms part of a broader effort to monetise MTNL's assets amid ongoing financial pressures.

MTNL has struggled with operational inefficiencies, rising debt, declining revenues, and a sustained loss of subscribers, limiting its ability to service liabilities or invest in growth. In response, the government has opted to monetise non-core and non-performing land assets to raise funds and reduce debt.

As part of this strategy, MTNL's board has approved the sale of residential property valued at Rs.350.72 crore to the National Bank ...