India’s urban mobility financing landscape received a major boost as Indian Railway Finance Corporation (IRFC), Hyderabad Metro Rail Ltd. (HMRL), and L&T Metro Rail (Hyderabad) Ltd. (L&TMRHL) signed a landmark ₹13,527 crore term loan agreement to refinance the Hyderabad Metro Rail project — one of the largest urban transit refinancing transactions in India.
The agreement was signed in the presence of Manoj Kumar Dubey, CMD of IRFC; K. Ramakrishna Rao; Sarfaraz Ahmad; Randhir Sahay; Deepa Kotnis; along with senior officials from IRFC, HMRL, and L&TMRHL.
Hyderabad Metro Rail Phase-I, spanning 69.2 km across three corridors with 57 stations, is among the world’s largest metro rail projects developed under the public-private partnership (PPP) model and currently serves more than five lakh passenger journeys daily.
The refinancing transaction highlights growing institutional confidence in India’s urban transport infrastructure and reinforces the long-term viability of metro rail systems in supporting sustainable transportation and urban development.
Industry stakeholders noted that IRFC’s expanding role in financing strategically important infrastructure projects will contribute significantly toward modernising India’s urban mobility ecosystem and advancing the vision of Viksit Bharat 2047.