Hyderabad: In a major development, the Telangana government has transferred 100 per cent equity of Larsen and Toubro (L&T) to the Hyderabad Metro Rail Limited (HMRL), which has been acquired by the state government.
The HMRL will fully come under the state government and begin its operations in the new setup starting May 1, 2026.
As part of the merger process, the state government has appointed a new board of directors for HMRL, including Jayesh Ranjan, Vikas Raj, Sandeep Kumar Sultania, B Shivadhar Reddy, Ashok Reddy and Jitesh V Patil.
Sarfaraz Ahmed has been appointed as the Managing Director of HMRL, and Shivendra Pratap is the Joint Managing Director.
A committee has also been formed with Chief Secretary K Ramakrishna Rao acting as its chairperson, with 10 members for the operation of HMRL.
The Telangana Legislative Assembly had passed a resolution on March 28, endorsing the state government’s decision to take over Phase-I of the Hyderabad Metro Rail Project from infra major L&T.
The Telangana government in 2025 had agreed to take over Phase I of the Hyderabad Metro Rail project from L&T Group by paying Rs 2,000 crore for the equity in the concessionaire L&T Metro Rail Hyderabad Ltd.
It was agreed that the state government would also take over the company’s debt of Rs 13,000 crore, official sources had said. L&T has about 90 per cent equity in the project.
“It was agreed upon that the takeover needs to be completed by paying not more than Rs 15,000 crore (equity and debt of L&T) by April 30, 2026,” Legislative Affairs Minister D Sridhar Babu had said, while speaking on the resolution in the Assembly.
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