Ask Hyderabad

The proposed takeover of the Hyderabad Metro by Hyderabad Metro Rail Limited has missed its initial September deadline as funding stalls five months after the landmark agreement was signed. The state has not yet finalised the necessary debt funding, largely because the Indian Railway Finance Corporation (IRFC) raised formal objections. Consequently, a further extension of the deadline to December is now expected for the transition.

This transition follows the formal agreement signed on 29 April 2026, wherein Hyderabad Metro Rail Limited agreed to acquire all shares of Larsen & Toubro's (L&T) metro company. The transaction involves an equity value of Rs 1,461.47 crore alongside Rs 13,538.53 crore of debt that must be successfully refinanced to complete the state's full takeover of the network.