Latest news with #L&TMRH
The Hindu
5 days ago
- Business
- The Hindu
L&TMRH metro rail ticket fare hike irks government
The Telangana government is once again reportedly upset with the L&T, this time for going ahead with the fare hike of the Hyderabad Metro Rail (HMR) operations of Phase-I of 69.2 km across the three traffic corridors by its subsidiary L&T Metro Rail Hyderabad (L&TMRH). L&TMRHL had announced a 20-25% hike on metro train ticket fares from May 17 and within a few days, revised the same with a 10% discount from May 24 effectively changing the hike in ticket fares from ₹1 to ₹19 in all the three metro corridors — Red, Blue and Green. The service operator had cited the recommendation of the Centre-appointed Fare Fixation Committee (FFC), headed by a retired high court judge (with representatives of the Centre and State), for the ticket fare hike. The firm had earlier revoked the discount on non-peak hours, but retained the student passes. Chief Minister A. Revanth Reddy had apparently conveyed to the metro rail authority to keep in abeyance the proposed ticket fare hike, according to official sources. Yet, the top management of the metro service operator went ahead with the announcement citing mounting losses due to project delay, high interest rate of loans and COVID suspension of services. The sources said that the government had expressed its displeasure over the manner in which the fare revision was done by the top brass of the firm, while pointing out that it is a public, private partnership (PPP) project. There has been 10% drop in ridership post the new fares though metro rail officials say the numbers will stabilise in three months. The government, which is reported to be upset with L&T over the Kaleshwaram Lift Irrigation Project construction imbroglio, has another gripe with the firm. It is about the pact to be made between L&TMRH and Hyderabad Airport Metro Limited (HAML) on sharing of existing infrastructure, including trains, metro lines and revenues, when the second phase becomes operational. The Centre, currently studying the detailed project reports (DPRs) for the HMR second phase of 76.4 km estimated to cost ₹24,269 crore for five corridors, has sought an advance pact from PPP concessionaire and the State government. The government was irked over the unhurried stance of the firm. Although a pact seems to be place now. Further, the government wants to put pressure on L&TMRH to purchase new train sets, which it has been proposing for a while, in view of the rush hours peak ridership. L&TMRH has been in talks with a public sector firm for buying 10 three-coach train sets in two stages though it is yet to firm up the contract. 'It could take at least 15-18 months for new trains to arrive. So, the concessionaire will be told to expedite matters,' said a top official. L&TMRH has been running all the 57 train sets for making 1,075 trips a day from dawn to dusk across the 69.2 km in three routes of LB Nagar to Miyapur 29 km (Red), Nagole to Raidurg 29 km (Blue) and JBS to MGBS 11 km (Green) with an average of 4.75 lakh riders a day.
The Hindu
02-05-2025
- Business
- The Hindu
HAML, L&TMRH working on integrating services for Metro rail Phase II
Hyderabad Airport Metro Rail Limited (HAML), the government special purpose vehicle formed to take up the Hyderabad Metro Rail phase two extension of ₹24,269 crore 76.4 km across five corridors is working on coordinating operational, maintenance and revenue sharing model with L&T Metro Rail Hyderabad (L&TMRH). L&TMRH has built and runs the first phase of operations across three corridors of 69.2 km of HMR taken up under the Public, Private Partnership (PPP) mode, while phase two will be taken up by HAML through a proposed joint venture with the Central Government and major funding from international financial institutions. HAML Chief Project Manager B. Anand Mohan admitted to Union Minister of Coal & Mines G. Kishan Reddy, chairing the District Development Coordination and Monitoring Committee (DISHA) here on Friday that the Central (urban development) ministry had sought details about the plan to integrate the services of first and proposed second phase of Metro rail services. 'Initially, we wanted to run phase two services independently, but considering the fact that passengers will be put to difficulty if they have to change stations from Raidurg to the proposed Neopolis terminal station, it was decided to go for coordinated operations. Details are being worked out to be incorporated into the DPRs shortly,' he disclosed. HAML plans to construct the second phase by April 2029 and the next phase will be to extend the line to the proposed 'Future City from Shamshabad airport. DPRs – detailed project reports, on the proposed new extensions towards Medchal and Shamirpet will be completed in 20 days, said the official. Earlier, Mr. Kishan Reddy grilled him about the phase two DPR on - who will purchase new train sets, how the operational, maintenance and revenue sharing models are to be worked out and if L&TMRH trains will also be added in proposed extended Metro rail corridors. No clarity on Phase two 'The State Government does not a proper policy and has no clarity on how to go about the next phase extension. It is still in 'ABCD' stage. I had already met the minister (urban development) concerned in Delhi and you (government) are yet to send answers to the queries raised. Then, why are we being accused of obstructing the project?,' he questioned. The Union Minister, later, pointed out that the ongoing metro rail work in the Old City was supposed to have completed in the first phase itself. He also assured that the Centre is ready to provide any kind of approvals including enabling taking loans from multilateral agencies for grounding the works. DISHA vice chairman and Malkajgiri MP Eatala Rajender, Hyderabad Collector Anudeep Durushetty and others participated in the day long meeting.
The Hindu
26-04-2025
- Business
- The Hindu
Hyderabad metro rail ticket fares hike appears imminent
Hyderabad Metro Rail ticket fare hike seems to be inevitable with L&T Metro Rail Hyderabad (L&TMRH), the firm which has built and runs the public transport system getting ready to bit the bullet after dilly-dallying for the last two years. L&TMRH chief executive officer and managing director K.V.B. Reddy has confirmed the same but has not indicated the percentage of the hike being considered. 'The operations cost has increased by 160% over the years . Our cumulative loss of ₹6,598 crore and high interest rate for loans taken is killing us,' he said. Despite debt restructuring, the interest rate on loans taken for the project has climbed back to 7.5-8%. The Covid pandemic has also significantly impacted the financial viability of the project increasing the risk of becoming an NPA – non performing asset, though the parent company L&T has been pumping in around ₹1,000 crore annually for interest payments. The annual revenue of ₹1,400 crore from fares and real estate - monetised eight million of the permitted 18.5 million , is not sufficient, claimed Mr. Reddy and has pointed out that there has been no revision from the initial launch fares of ₹10-₹60 in the last seven-and-half years. The company is also armed with recommendation of the Centre appointed Fare Fixation Committee submitted in 2023. New train sets Moreover, L&TMRH also needs fresh funds urgently to purchase new train sets as the lease option from other metro systems like Nagpur did not work out. 'We are conscious of the demand for increasing services during peak hours, but we need money for the new trains. Notwithstanding financial constraints, we have finalised an indigenous metro rail coach manufacturer to purchase 10 train sets of three coaches each costing upto ₹400-₹450 crore in two phases. Talks are at an advanced stage and the initial tender is for five train seats,' said the MD. It will take at least 15 months from the date of signing for these to join the existing fleet of 57 train sets running across 69.2 km of three dense traffic corridors of the capital region. The possibility of the world's biggest public, private partnership metro rail project, where L&TMRH has infused about ₹21,000 crore, breaking even is only by 2033 carrying an estimated 7/7.5 lakh passengers a day, said Mr. Reddy. Daily passenger intake is now about 4.75 lakh a day during weekdays and 3.5 lakh during weekends in the three corridors (Red line: Miyapur to LB Nagar 29 km), Blue line: Nagole to Raidurg 29 km and Green line: JBS to MGBS 11 km). The MD insisted that the 57 current train sets - all being run during peak morning and evening hours - has space to take in more load and has urged passengers to follow certain rules like not crowding at doors, moving inside, keeping shoulder bags in front, etc.
