IRFC Signs Rs 13,527 Crore Refinancing Deal for Hyderabad Metro Rail Project

Indian Railway Finance Corporation on Monday signed a Rs 13,527 crore term loan agreement with L&T Metro Rail (Hyderabad) Limited to refinance the debt obligations of the Hyderabad Metro Rail project, marking one of India’s largest urban transit refinancing transactions.

The refinancing agreement follows the transfer of 100 per cent ownership of L&T Metro Rail (Hyderabad) Limited from Larsen & Toubro to the Government of Telangana through Hyderabad Metro Rail Limited, converting the metro network into a state-owned public transport asset.

According to IRFC, the refinancing facility will cover existing debt obligations, including non-convertible debentures (NCDs), commercial papers and term loans. The transaction is expected to facilitate the orderly exit of existing lenders while improving the long-term financial sustainability of the metro project.

IRFC CMD and CEO Manoj Kumar said the transaction highlights the company’s capability to structure long-tenor financing solutions for major infrastructure assets and reflects its commitment to supporting sustainable urban mobility projects.

Hyderabad Metro Rail Phase-I spans 69.2 km across three corridors with 57 stations and currently handles over five lakh passenger journeys daily.

📅 Published on: 26 May 2026

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