Telangana govt signs agreement with L&T for acquisition of 100 pc equity shares of LTMRHL

The Telangana government, following its decision to take over Hyderabad Metro Rail Phase I through HMRL, on Wednesday signed a Share Purchase Agreement with L&T for the acquisition of 100 per cent equity shares of LTMRHL at an equity value of Rs 1,461.47 crores. Hyderabad Metro Rail Ltd (HMRL) Managing Director Sarfaraz Ahmad, D K Sen on behalf of L&T Ltd and KVB Reddy on behalf of L&T Metro Rail (Hyderabad) Limited (LTMRHL) signed the Share Purchase Agreement. Telangana government Chief Secretary and Chairman of HMRL K Ramakrishna Rao and Special Chief Secretary (Municipal Administration) Jayesh Ranjan were present on the occasion, a HMRL release said. The debt of LTMRHL, amounting to Rs. 13,538.53 crores as on April 30, 2026, which was guaranteed by L&T, shall now be refinanced with a guarantee issued by the Government of Telangana, it said. Chairman and Managing Director of Larsen & Toubro (L&T) SN Subrahmanyan called on Chief Minister A Revanth Reddy earlier in the day. L&T Metro Rail (Hyderabad) Limited has been operating Hyderabad Metro Rail Phase I, spanning three corridors with a total network length of 69 km, since November 2017. The Metro Rail network currently serves an average daily ridership of approximately 4.5 lakh passengers and has logged in about 86 crore passenger trips, since its inception. The acquisition of Hyderabad Metro Rail Phase I will enable ''closer strategic alignment between the existing Phase I and the proposed Phase II network, fostering seamless integration in planning, execution, and service delivery, the release added.

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