HYDERABAD: The Telangana government has decided to take control of the Hyderabad Metro Rail Phase I through HMRL. On Wednesday, they signed a Share Purchase Agreement with L&T to acquire 100% equity shares of LTMRHL for an equity value of ₹1,461.47 crores.
The Share Purchase Agreement was signed by Hyderabad Metro Rail Ltd (HMRL) Managing Director Sarfaraz Ahmad, D K Sen representing L&T Ltd, and KVB Reddy representing L&T Metro Rail (Hyderabad) Limited (LTMRHL).
Attending the signing were Telangana Chief Secretary and HMRL Chairman K Ramakrishna Rao, along with Special Chief Secretary (Municipal Administration) Jayesh Ranjan, according to a release from HMRL.
The debt of LTMRHL, which stands at ₹13,538.53 crores as of April 30, 2026, guaranteed by L&T, will now be refinanced under a guarantee from the Telangana government.
Earlier in the day, L&T Chairman and Managing Director SN Subrahmanyan met with Chief Minister A Revanth Reddy.
L&T Metro Rail (Hyderabad) Limited has been operating Phase I of the Hyderabad Metro Rail since November 2017, covering three corridors with a total length of 69 km.
Currently, the metro rail network serves an average daily ridership of approximately 450,000 passengers and has registered about 860 million passenger trips since its launch.
This acquisition will facilitate a “closer strategic alignment between the existing Phase I and the planned Phase II network, resulting in seamless integration in planning, execution, and service delivery,” the release stated.
