Indian Railway Finance Corporation signed a Rs 13,527 crore term loan agreement with L&T Metro Rail (Hyderabad) (L&TMRHL) to refinance the debt obligations of the Hyderabad Metro Rail project, marking a landmark refinancing transaction in India's urban transit sector.

The refinancing follows the transfer of 100 per cent ownership of L&TMRHL from Larsen & Toubro to the Government of Telangana through Hyderabad Metro Rail (HMRL), transforming the metro network into a strategic public mobility asset under state ownership and creating a stronger financial foundation for the phased expansion of Hyderabad's metro ecosystem.

The facility will refinance existing debt obligations, including non-convertible debentures (NCDs), commercial papers and term loans, enabling an orderly exit for existing lenders while significantly improving the project's long-term financial sustainability.