<p>Hyderabad: In a significant development the <a href="https://www.deccanherald.com/india/telangana">Telangana</a> state government has formally taken over Hyderabad Metro Rail from Larsen & Toubro (L&T) by signing a Share Purchase Agreement (SPA) on Wednesday.</p><p>Following several rounds of consultations with L&T over the past few days, state senior officials convened at the State Secretariat on Wednesday to finalise the transaction.</p><p>The meeting was attended by Hyderabad Metro Rail Ltd Chairman and Chief Secretary K Ramakrishna Rao, Special Chief Secretary for Metropolitan Area and Urban Development Jayesh Ranjan, HMRL Managing Director Sarfaraz Ahmed, and representatives from L&T and LTMRHL.</p>.Bengaluru Metro Yellow Line gets 10th train.<p>A Share Purchase Agreement (SPA) was signed between the state government and Larsen & Toubro Limited along with L&T Metro Rail (Hyderabad) Limited (LTMRHL), under which the government acquired 100 per cent of LTMRHL's shares at an equity value of Rs 1,461.47 crore. The agreement was signed by Sarfaraz Ahmed on behalf of HMRL, D.K. Sen on behalf of L&T Ltd, and KVB Reddy on behalf of LTMRHL.</p><p>As part of the deal, LTMRHL's outstanding debt of Rs 13,538.53 crore as of April 30, 2026 guaranteed by L&T, will be refinanced under a Telangana government guarantee. IDBI Capital served as the transaction advisor, while Saraf & Partners provided legal advisory services.</p><p>L&T <a href="https://www.deccanherald.com/tags/metro">Metro</a> Rail (Hyderabad) Limited has been operating Hyderabad Metro Rail Phase-I since November 2017, covering a 69-kilometre network across three corridors. The metro currently serves approximately 4.5 lakh passengers daily, with around 86 crore journeys recorded since its launch.</p>.L&T exits Hyderabad Metro; Telangana government takes full control.<p>With Phase-I now under state government control, officials expect improved coordination in planning, execution, and service delivery for both the existing Phase-I network and the proposed Phase-II expansion paving the way for a more comprehensive, reliable, and passenger-friendly metro network for Hyderabad.</p><p>Prior to the signing of the agreement, L&T Chairman and Managing Director S N Subrahmanyan met Chief Minister A Revanth Reddy, during which the two held discussions on several related matters.</p>
<p>Hyderabad: In a significant development the <a href="https://www.deccanherald.com/india/telangana">Telangana</a> state government has formally taken over Hyderabad Metro Rail from Larsen & Toubro (L&T) by signing a Share Purchase Agreement (SPA) on Wednesday.</p><p>Following several rounds of consultations with L&T over the past few days, state senior officials convened at the State Secretariat on Wednesday to finalise the transaction.</p><p>The meeting was attended by Hyderabad Metro Rail Ltd Chairman and Chief Secretary K Ramakrishna Rao, Special Chief Secretary for Metropolitan Area and Urban Development Jayesh Ranjan, HMRL Managing Director Sarfaraz Ahmed, and representatives from L&T and LTMRHL.</p>.Bengaluru Metro Yellow Line gets 10th train.<p>A Share Purchase Agreement (SPA) was signed between the state government and Larsen & Toubro Limited along with L&T Metro Rail (Hyderabad) Limited (LTMRHL), under which the government acquired 100 per cent of LTMRHL's shares at an equity value of Rs 1,461.47 crore. The agreement was signed by Sarfaraz Ahmed on behalf of HMRL, D.K. Sen on behalf of L&T Ltd, and KVB Reddy on behalf of LTMRHL.</p><p>As part of the deal, LTMRHL's outstanding debt of Rs 13,538.53 crore as of April 30, 2026 guaranteed by L&T, will be refinanced under a Telangana government guarantee. IDBI Capital served as the transaction advisor, while Saraf & Partners provided legal advisory services.</p><p>L&T <a href="https://www.deccanherald.com/tags/metro">Metro</a> Rail (Hyderabad) Limited has been operating Hyderabad Metro Rail Phase-I since November 2017, covering a 69-kilometre network across three corridors. The metro currently serves approximately 4.5 lakh passengers daily, with around 86 crore journeys recorded since its launch.</p>.L&T exits Hyderabad Metro; Telangana government takes full control.<p>With Phase-I now under state government control, officials expect improved coordination in planning, execution, and service delivery for both the existing Phase-I network and the proposed Phase-II expansion paving the way for a more comprehensive, reliable, and passenger-friendly metro network for Hyderabad.</p><p>Prior to the signing of the agreement, L&T Chairman and Managing Director S N Subrahmanyan met Chief Minister A Revanth Reddy, during which the two held discussions on several related matters.</p>