Telangana’s bold stride in public infrastructure came to fruition as it sealed a Rs 1,461 crore deal to acquire full ownership of Hyderabad Metro Rail Phase I from engineering giant L&T. The Wednesday agreement transfers complete control of LTMRHL to the state-run HMRL.
The share purchase pact values LTMRHL’s equity at Rs 1,461.47 crore, absorbing the operational entity that has managed the metro since 2017. This fulfills the government’s long-standing plan to integrate the vital transit system into its fold.
High-profile signings highlighted the event: HMRL’s Sarfraj Ahmad, L&T’s D.K. Sen, and LTMRHL’s KVB Reddy put pen to paper amid witnesses like Chief Secretary K. Ramakrishna Rao and urban development chief Jayesh Ranjan.
With LTMRHL’s Rs 13,538.53 crore debt now on state books—previously backed by L&T—refinancing via government guarantees is underway. Advisors IDBI Capital and Saraf & Partners steered the complex transaction.
L&T’s top brass, including Chairman S.N. Subrahmanyan, held discussions with CM Revanth Reddy beforehand. The 69-km network across three lines ferries 4.5 lakh commuters daily, amassing 86 crore journeys since inception.
As ownership shifts, expectations rise for improved services, network growth, and better connectivity, heralding a new era for Hyderabad’s urban mobility.
