Hyderabad, Sept. 30: Larsen & Toubro (L&T) has extended the deadline to complete the sale of its stake in Hyderabad Metro Rail to December 31, 2026. This is the third extension announced this year.
L&T had initially planned to complete the transaction by June 30. However, the deadline was later extended to September 30 before the latest extension.
L&T Extends Hyderabad Metro Stake Sale Deadline
L&T agreed to sell its entire stake in the Hyderabad Metro project to Hyderabad Metro Rail Ltd for Rs 1,461.47 crore.
The company owns more than 90 per cent of the Hyderabad Metro project. It announced its decision to exit the project amid operational and accumulated losses.
L&T Metro Rail has accused the Telangana government of failing to provide financial assistance despite repeated requests. The company said the lack of support had added to its financial difficulties.
The latest extension gives the parties additional time to complete the proposed transaction. However, the deal remains subject to completion within the revised deadline.
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