Larsen & Toubro Ltd.

L&T has achieved financial closure for the Rs 16,375-crore Hyderabad metro rail project, with a 10-bank consortium led by SBI pitching in with Rs 11,478 crore debt. The new project cost of Rs 16,375 crore, against the Rs 12,132-crore bid, includes Rs 14,132 crore for the 71-km metro rail system and Rs 2,243 crore for real estate component in phase one. The project has a viability gap fund of Rs 1,458 crore (10 per cent). The Government had earlier frozen the project cost at Rs 12,132 crore.

The real estate (phase-1) cost of Rs 2,243 crore is being financed with an equity of Rs 671 crore (30 per cent) and debt of Rs 1,572 crore (70 per cent). The project allows 18.5 million sq.ft. of transit-oriented development.crackcrack