Telangana Cabinet Approves Hyderabad Metro Takeover and Phase II Push

28 Feb 2026 CW Team

Telangana Cabinet, led by Chief Minister A Revanth Reddy, approved the takeover of the 69 km Hyderabad Metro Rail (HMR) Phase I network from Larsen & Toubro (L&T) by agreeing to pay about Rs150 bn, including liabilities, and directed the administration to immediately initiate the necessary steps to effect the transfer. The decision was taken at a meeting held on Monday night and was described as a major step towards consolidating urban transport in Hyderabad. The Cabinet instructed officials to begin preparatory work for transaction execution and operational transition.

A Cabinet Sub-Committee constituted to examine the acquisition and the feasibility of the Metro submitted its report, which was discussed in detail by Ministers and senior officials. The panel's appraisal addressed legal, financial and operational aspects and informed the Cabinet's decision to proceed. The government indicated that further technical and financial due diligence would be completed as part of the implementation process.

The government also cleared a renewed push for Phase II of the metro programme and resolved to take forward necessary planning and coordination to enable expansion. Officials were asked to align Phase II proposals with broader urban mobility objectives and to ensure integration with existing transport systems. Emphasis was placed on minimising disruption to commuters during any transfer of responsibilities and on maintaining service standards.

Administrative actions to be launched immediately include formalising the acquisition terms, addressing outstanding liabilities and arranging stakeholder consultations with the operator and regulators. The Cabinet indicated that timelines and financial modalities would be presented to the Assembly where further deliberation may be required. The move is expected to centralise oversight of the HMR and to provide a clear framework for future metro development and governance.

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..