In a landmark moment for urban mobility, the Government of Telangana has officially signed the Share Purchase Agreement to acquire 100% equity of L&T Metro Rail (Hyderabad) Limited (LTMRHL) through Hyderabad Metro Rail Limited (HMRL).

The agreement, valued at ₹1,461.47 crore, marks a defining step towards bringing Hyderabad Metro Phase I under complete government ownership.

Signed in the presence of senior leadership including Chief Secretary Sri K. Ramakrishna Rao, Sri Jayesh Ranjan, and HMRL MD Sri Sarfaraz Ahmad, this transition reflects a strong commitment to shaping a more integrated and future-ready metro network.  The agreement was executed by Sri Sarfaraz Ahmad on behalf of HMRL, Sri D. K. Sen for Larsen & Toubro, and Sri K. V. B. Reddy for LTMRHL.

As part of the transition, the existing debt of ₹13,538.53 crore will be refinanced with a guarantee from the Telangana government, ensuring financial continuity and stability. The transaction was supported by IDBI Capital as advisor, with legal guidance from Saraf & Partners.

Since its launch in 2017, Hyderabad Metro Phase I spanning 69 km across three corridors has transformed city travel, serving an average of 4.5 lakh passengers daily and recording nearly 86 crore passenger journeys.

With this acquisition, Hyderabad is set to unlock seamless integration between Phase I and upcoming expansions, enabling smarter planning, faster execution, and a truly commuter-centric experience. This is more than a transition, it is a defining chapter in Hyderabad’s journey towards a unified, efficient, and world-class public transport system.