The Indian Railway Finance Corporation Ltd. (IRFC) has finalized a ₹13,527 crore loan agreement with L&T Metro Rail (Hyderabad) Limited (L&TMRHL) to refinance the debt of the Hyderabad Metro Rail project. This refinancing is part of a strategy to enhance the project's financial sustainability and facilitate future expansions in the city. Following the transfer of full ownership of L&TMRHL to the Government of Telangana, the metro network has become a state-owned public mobility asset. The new loan will replace higher-cost debt with long-term financing, allowing for quarterly repayments over 20 years. This transaction is intended to improve the financial position of the Hyderabad Metro, which currently operates over five lakh passenger journeys daily across its 69.2 kilometers of track. The agreement features an innovative financing structure with no additional fees and is supported by a state guarantee, showcasing IRFC's expanding role in urban infrastructure financing.