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Deloitte may sign up 1.4 million sq ft of office space in Hyderabad
Source: Economic Times Sep 18, 2014.
While Tata Consultancy Services recently took up just under a million sq ft of space split between Noida and Gurgaon in the National Capital Region, Flipkart is looking to set up a new 1.5 million sq ft campus in Bangalore keeping in view the tremendous pace at which the e-commerce sector has been growing-."This signals revival in growth prospects for business. Many of these companies now have visibility about new business coming in," said Anckur Srivasttava, chairman of GenReal Property Advisers. Until a few months ago, many companies were still not too sure about growth.
Political uncertainty added to this. With a strong government at the centre and some new policy measures, companies have felt emboldened to go ahead with their plans.
Others looking to lease office space include management consulting firm Accenture, which is scouting for a million sq ft of office space in Bangalore. American financial services firm Wells Fargo is looking to lease 1.2 million sq ft in the city. One million sq ft of office space seats more than 10,000 people.
Juggy Marwaha, managing director, south, for Jones Lang LaSalle, which has the mandate to hunt for space for Flipkart and several other companies, said Bangalore will come back to peak 2007 levels of office space absorption—between 8 and 9 million sq ft this year. A spokesman for Accenture said: "We regularly evaluate our real estate portfolio on an ongoing basis to meet our business requirements and align our office space requirements accordingly."
A spokeswoman for Deloitte said the company will not be able to comment due to its internal compliance and regulatory policies. Flipkart declined to comment. Aveek Mukherjee, managing director, Wells Fargo India Solutions said: "We are currently conducting a proactive exercise to understand our potential real estate options in the city. We are yet to finalise on any property or expansion at this time."
Many of these firms are looking at built-to-suit facilities that will be set up over the next 24 months or so by which time they expect the economy to also scale up. This is also an opportunity for many corporates to lock in real estate when rentals are low. "Everyone is now anticipating that supply in relevant areas will get constrained, so rentals will rise," said Anshul Jain, country chief executive at real estate consultancy DTZ. "There is also a pickup in demand because of positive economic indicators."
Capital of Telangana to revive as MBA education hub
With the creation of Telangana State on June 2, 2014, the political uncertainty in Andhra region and Hyderabad city came to an end. The erstwhile Andhra Pradesh was divided into two states – Telangana and Andhra Pradesh. Hyderabad was declared as the capital of the new State of Telengana. Peace and progress is returning to this cyber-city. With its turbulent past behind, Hyderabad is all set to regain its old glory as an MBA education hub, at par with Delhi NCR, Bangalore or Pune. This article by MBAUniverse.com presents latest facts about the economic and business environment in Hyderabad, and various options to pursue your MBA in Hyderabad.
Hyderabad Fast Facts:
• Hyderabad is fifth largest contributor to the India’s GDP.
• The city is home to more than 1300 IT and ITES firms, including global conglomerates such as Microsoft, Google, IBM, Yahoo!, Dell, Facebook and major Indian firms including Tech Mahindra, Infosys, TCS, Genpact and Wipro.
• World Bank ranked the city as 2nd best Indian city for doing business
• Corporate Headquarters of leading companies like Dr Reddy’s Laboratories, Mahindra, Satyam and Karvy, GVK Bioscience, Hetero Drugs, IIL are in Hyderabad
• Indian School of Business (ISB) has put the city of Hyderabad on global management education map. The city has many other well known B-schools.
Let1`s look at the political, economy, business and education scenario in Hyderabad.
Do you have queries regarding MBA Admission Procedure: talk to MBA Counselor
Political Scenario
Telangana was carved out of erstwhile Andhra Pradesh on June 2, 2014 and K. Chandrasekhar Rao was elected as the first Chief Minister of the state. As of now the political disturbances due to Telangana Movement have come to an end. A new hope of development after bifurcation has now emerged. The presence of total of 168 Special Economic Zones (SEZs) in the state will pay more towards development and Hyderabad as most developed part of Telangana will come in the eyes of global investors generating a number of opportunities. Telugu Rashtra Party is in the power in the state and is having the agenda of development and generating more employment opportunities.
Economy & Business Scenario
Hyderabad is decidedly one of India’s most important economic hubs, with marked growth in automobile, Information Technology, apparels bulk drugs and pharmaceuticals industry. Due to its wide economic growth, Hyderabad can be rated as the economic and financial capital of the state of Telangana. Hyderabad is the largest contributor to the state's GDP and state tax. The city generates huge revenues and contributes a lion’s share to the state's tax revenue. The per capita income of Hyderabad was Rs. 44300 in 2011
Hyderabad’s emerging future is one of India’s central Information Technology and IT enabled service hubs. Hyderabad will become a major transit hub between the US, Europe, and Asia, with the city having one of the fastest growing economies in India Hyderabad has a fast increasing tax base.
Hyderabad is home to the Hyderabad Securities formerly known as Hyderabad Stock Exchange (HSE), and houses the regional office of Securities and Exchange Board of India (SEBI). By the end of 2014, the upcoming Bombay Stock Exchange (BSE) facility in Hyderabad will provide operations and transactions services to BSE-Mumbai.
The growth of information technology (IT), IT-enabled services (ITES), insurance and financial institutions has expanded the service sector, and these primary economic activities have boosted the other sectors such as trade and commerce, transport, storage, communication, real estate and retail.
Hyderabad is a global centre of information technology, for which it is known as Cyberabad (Cyber City). In 2013it contributed 15% of India's and 98% of Andhra Pradesh exports in IT and ITES sectors.
Presence of Corporates in Hyderabad
Pharmaceutical Companies - Dr Reddy's Laboratories, Biocon, Aurobindo Pharma, Mylan, Shantha Biotechnics, Zenotech labs Ltd.
• Indian Immunological Limited is based in Hyderabad.
• GVK Bioscience Limited is headquartered in Hyderabad.
• Dr Reddy’s Laboratories Corporate office is based here.
IT Companies - Infosys ,Wipro, Mahindra Satyam, Accenture, Agilent , Alcatel –Lucent , Amazon.com , Patni Computers, TCS , Zensar Technologies , Cognizant , Convergys, Dell , Delloite , HCL Technologies , iGate, IBM , DST Systems , Genpact, Wipro.
Software and Product Development - HP, Microsoft, Covansys, Sun Microsystems, SSA Technologies, Google , Yahoo.
Media Companies- Hyderabad is home to the second largest film industry in India by sheer number of films it produces. Home to Telugu film industry known as Tollywood.
• Media organization like Doordarshan, The Times of India, The Hindu, The Economic Times is present in the city.
• The regional Channels like Andhra Jyothy News, URDU TV, ABN, TV9, ETV and HMTV.
• Sri Venkateswara Cine Chitra Film Production Company Head Office.
• Sree Lakshmi Prasanna Pictures based in Hyderabad.
• 14 reels Entertainment is present in Hyderabad
Telecom --- Motorola, IMI Mobile, VSNL, Samsung are present in Hyderabad.
• IMI Mobile is headquartered in Hyderabad.
• Inno Garage consulting Company based in Hyderabad.
• Perigreen is having its headquarter in Hyderabad.
• SMSCountry Networks Pvt. Ltd based in Hyderabad
• Nokia customer operation Office in Hyderabad.
Banking & Finance - Bank of America, CFC, HSBC, UBS, BAJAJ Capital, The Hyderabad Stock Exchange Ltd, GE Capital. There is also a presence of number of PSUs in Hyderabad like BHEL, BEL, ECIL, etc.
• Microsoft is operating its largest R&D operations outside US in Hyderabad.
• Corporate Office of Dr Reddy’s Laboratories.
• Corporate Office GVK Bioscience Limited
• Karvy Private Wealth An Indian MNC is Headquartered in Hyderabad
• Mahindra Satyam is headquartered in Hyderabad.
• Hetero Drugs Headquartered in Hyderbad
• Home of Telugu Film Industry Tollywood
• NVIDIA , QUALCOMM Product Development offices in Hyderabad.
• Development Centre of Oracle.
• Presence of the corporate office of regional channels like Andhra Jyothy, Tv9 , Urdu TV
• Corporate office of Aurobindo Pharma Limited.
• Headquarter of ETV is in Hyderabad
• Elico Limited having Corporate Office in Hyderabad.
• LifeSpring Hospitals Indian Hospital Chain Headquartered in Hyderabad.
• Registered Office of Gulf Oil in Hyderabad.
• Dhama Innovations Pvt. Ltd is based Headquartered in Hyderabad.Placement Opportunities
With the rapidly growing market and booming economy of Hyderabad, there are a lot of career opportunities for the MBAs and PGDMs to start with the Global Giants present in the City. Out of many corporates mentioned above, candidates can explore sector wise placement opportunities in accordance with their interests and specializations in Hyderabad.
IT/ITES
The city is home to more than 1300 IT and ITES firms, including global conglomerates such as Microsoft, Google, IBM, Yahoo!, Dell, Facebook and major Indian firms including Tech Mahindra, Infosys, Tata Consultancy Services (TCS), Genpact and Wipro.
Pharma & BioTech sector
Hyderabad is the place for the Corporate Office of the number of Pharnacetical Industry such as World renowned Dr. Reddy’s Laboratories ,Aurobindo Pharma, Hetero Drugs, GVK Bioscience, Biocon , Indian Immunologicals Limited.
BFSI - The presence of the Banking and Financials Institutions like Bank of America, Capital Finance Company , HSBC, UBS, BAJAJ Capital, The Hyderabad Stock Exchange Ltd, GE Capital are the sources of employment to MBA Graduates.
Infrastructure & Logistics – Infrastructure and Logistics Federation of India (ILFI) declares Hyderabad as the Infrastructure Capital of India. HiTec City And the new airport are the some show pieces of emerging story. Projects such as Hardware Park , NanoTechnology Park, Fab City, Aero Park will add jewels to the city and thereby generate the new employment opportunities to the MBA aspirants.
Consulting Firms – The Consulting firms like Accenture, Capgemini, Cognizant, Deloitte Consulting , Hewitt , Keane, KPMG is continuously opening doors for the employment opportunities to the Students.
Hyderabad as Education Destination
Hyderabad is one of the leading Education hubs of South India with the presence of the 13 universities like the University of Hyderabad, Osmania University and Jawaharlal Nehru Technical University (JNTU).
Hyderabad has five major medical schools and leading technical and engineering schools such as the International Institute of Information Technology, Hyderabad (IIITH), Indian Institute of Technology (IIT-H) and Birla Institute of Technology and Science (BITS Hyderabad).
Talking about Management education, Indian School of Business (ISB) has put the city of Hyderabad on International map. The city has many well known B-schools like ICFAI IBS, VJIM, Institute of Public Enterprise (IPE), IMT Hyderabad,
The presence of the renowned global conglomerates and the renowned B-schools is going to bring a drastic change in the booming economy and thereby inviting candidates to carry their MBA programs in such corporate environment
Hyderabad B-schools at a Glance
| Name | Established | Affiliation | Program | Flagship Prg Fee (Rs Lakhs) | Placement Highlight |
Institute of Public Enterprises (IPE) |
1964 |
AICTE |
PGDM |
7.0 | 70+companies visited campus in 2014. Majority of offers from Banking Companies. 47 % offers in Marketing and 25 % in Finance.
|
ICFAI Business School (IBS) |
1985 |
UGC Deemed University |
MBA |
12 | 150+ Recruiters 950+ students placed in 2014 Highest salary Package Rs. 24 Lakh Offers in all Major sectors with 27% in IT/ITES |
Vignana Jyothi Institute of Management (VJIM) |
1992 |
AICTE |
PGDM |
6.50 | 46% offers in Marketing , 33% in Finance 16% in HR Average package of Rs. 4.5 lakhs 55 % are from Engineering
|
Siva Sivani Institute of Management (SISM) |
1992 |
AICTE |
PGDBIF |
6.75 |
200 hundred students placed in year 2014
Accredited Campus Associate of Deloitte. MOU with HDFC Bank for Placements.
|
Institute of Management (IMT) Hyderabad |
2011 |
AICTE |
PGDM |
11.0 | 80 + companies visited. 80% Batch placed with Top Corporates. 38% Marketing and 25 % in Finance Average package 6.0 lakhs |
MANAGE(National Institute of Agricultural Extension Management, Hyderabad | 1987 | AICTE, NBA | PGDAEM | 4.81 | 30 companies visited Highest package:Rs18 lakhs Average: Rs.7.04 Lakhs (2013 data) |
Vishwa Vishwani Institute of systems & Management |
1988 |
AICTE |
PGDM |
5.40 | Offers from leading Corporates in term of quality placements. Member of NHRD, AIMA, AIMS, AMDISA. |
Data source: Respective B-schools
The presence of large number of conglomerates and the Indian IT/ITES industry in Hyderabad and renowned B-Schools with the Industry Academia Interface will surely attract MBA aspirants. The stable political situation and the aim of creation of new state for the development issues will generate new opportunities. Hyderabad as the developed and sophisticated place, will produce more global leaders by putting in the growth of Economy. So Learning Management in the shadows of Global Conglomerates will effect management education and will pull more MBA aspirants to Hyderabad.
Wi-Fi not to be free for all in Hyderabad
ISB Dean Ajit Rangnekar shares a word with IT minister K.T. Rama Rao during the launch of the IT hub at Prayatak Bhavan, Hyderabad. —DC
Source : Deccan Chronicle Sep 10, 2014
Hyderabad: Hyderabad may soon become a Wi-Fi city, but the service is not going to be free for all, as that may put a heavy burden on the server infrastructure and may even spark security concerns. The information technology department of the Telangana State government is working towards developing a model to have a mix of free and paid Wi-Fi access, said IT and panchayat raj minister K.T. Rama Rao.
“We are trying to have a level playing field for the service providers and ensure that all the service providers participate. Wi-Fi will be available everywhere in Hyderabad. However, if we make it free for everybody, it will result in a huge burden on the network. Therefore, Wi-Fi access will have to be a mix of free and paid. We are also exploring new technologies like ‘White-Fi’, which is an evolving technology,” he said. Discussing security issues, the minister said an R&D meeting will be held soon to resolve all such concerns.
Meanwhile, the crucial Information Technology Investment Region project, which was approved by the UPA government at the Centre, has seen no progress. The minister plans to take up the matter with the Union minister for IT when he meets him on September 15.
Mr Rao said, “The Government of India has announced the ITIR project for Hyderabad. I have already sought an appointment with the Union minister for IT. The first phase of the ITIR project will be completed in the next five years, but it might take time to evolve and reach the state of generating 15 lakh employment, as predicted by NASSCOM.”
KCR promises to make Hyderabad most happening city
Hyderabad: Promising to turn Hyderabad into the most happening city in the country, Telangana Chief Minister K Chandrasekhar Rao Friday announced that 1,000 km long world-class roads will be laid in the city at a cost of Rs 10,000 crore.
Announcing series of measures to develop the city and ease congestion, he said an east-west road corridor with four lanes would be developed between Vanasthalipuram and Ramachandrapuram. "Similarly a corridor will be developed between north and south," he said.
KCR, as the chief minister is popularly known, was speaking at the inauguration of Hyderabad property show organized by Confederation of Real Estate Developers' Association of India (CREDAI) here.
He announced restoration of rain water drains by removing the encroachments to permanently solve the problem of flooding of roads and residential colonies during rainy season.
He said four lakh LED lights would replace the existing street lights in the city.
The chief minister said another outer ring road would be developed with satellite townships and specialized clusters like pharma city, sports city, health city and cinema city.
KCR, who visited Singapore and Malaysia last week, said global consultants would be hired to prepare a new master plan for Hyderabad keeping in view its requirements especially with the development of Information Technology Investment Region (ITIR).
The chief minister vowed to make Hyderabad the best place for the industry with single window clearance system, which he said would be zero-graft and the best in the world.
Stating that Hyderabad has many advantages, KCR said he had no doubt that it would soon grow faster than any other city in the country.
The chief minister also promised to bring a single window system to give all clearances for real estate projects. "We will introduce a bill in the next session of the Assembly," he added.
Source: Zee News August 29, 2014
Hyderabad will be most liveable city, KCR tells investors in Singapore
Chief minister K Chandrasekhar Rao on Friday assured potential investors in Singapore that his goal was to create a 'plug-and-play' environment in Telangana where investment proposals would be fast-tracked through an automatic approval system.
Addressing the IIMPACT 2014 global meet in Singapore, Chandrasekhar Rao said that his government would enact laws to ease issues related to industrial land zoning policy and automatic approval system. "Most of the industrial parks will be located within a 100 km radius of Hyderabad," he said and added that his government recently decided that all existing and future irrigation projects would set aside 10 per cent of available water for industries.
The chief minister said that his government's goal was to make Hyderabad the most liveable city in India by offering better incentives to investors than those offered by other states.
Addressing the IIMPACT 2014 global meet in Singapore, Chandrasekhar Rao said that his government would enact laws to ease issues related to industrial land zoning policy and automatic approval system. "Most of the industrial parks will be located within a 100 km radius of Hyderabad," he said and added that his government recently decided that all existing and future irrigation projects would set aside 10 per cent of available water for industries.
The chief minister said that his government's goal was to make Hyderabad the most liveable city in India by offering better incentives to investors than those offered by other states.
Referring to the burgeoning population of Hyderabad which he said was expected to grow from the present 1.2 crore to 20 crore in the next five years, Chandrasekhar Rao said a master plan was being developed to meet the challenges posed by such growth. He pitched this potential growth to investors as opportunities to invest in projects dealing with smart city concepts.
Earlier in the day, a high-level government team led by Chandrasekhar Rao met Singapore's police commissioner and other senior police officials and discussed the functioning of the police force there. Of special interest to the Telangana government was the security and surveillance systems in Singapore about which the visiting dignitaries were briefed by Singapore police chief, according to a press release from the chief minister's office. It may be recalled that the chief minister recently announced the setting up an extensive closed circuit television camera network in Hyderabad to monitor and control traffic and to ensure law and order in the city.
On Thursday evening, the chief minister took part in Telangana state formation festivities organized by local residents who hail from Telangana. Chandrasekhar Rao congratulated the diaspora for joining hands and making the formation of the new state possible.
Earlier in the day, a high-level government team led by Chandrasekhar Rao met Singapore's police commissioner and other senior police officials and discussed the functioning of the police force there. Of special interest to the Telangana government was the security and surveillance systems in Singapore about which the visiting dignitaries were briefed by Singapore police chief, according to a press release from the chief minister's office. It may be recalled that the chief minister recently announced the setting up an extensive closed circuit television camera network in Hyderabad to monitor and control traffic and to ensure law and order in the city.
On Thursday evening, the chief minister took part in Telangana state formation festivities organized by local residents who hail from Telangana. Chandrasekhar Rao congratulated the diaspora for joining hands and making the formation of the new state possible.
Source: Times of India, Aug 23, 2014
-- E-commerce major Amazon to build facility in Hyderabad
Business Line : August 13, 2014
Global e-commerce major Amazon has said it will build a 1.6-million square feet centre in Hyderabad for its biggest facility outside of its corporate headquarters in Seattle.
The move comes two weeks after its Chief Executive Officer Jeff Bezos announced investment of $2 billion in India.
The Hyderabad facility, which is expected to come up on 10 acres at Gachibowli (which has IT giants like Microsoft and CA Tech), will house 12,500 employees and be ready by 2018. The company, with offices in nearby Madhapur, is currently applying for statutory permissions such as fire and environmental clearances to begin work on the project.
“We are waiting for statutory permissions. The moment we receive them we will begin work. We hope to complete the project by 2018. It will be taken up in phases,” John Schoettler, Director (Global - Real Estate and Facilities) of Amazon, who led a delegation which met Telangana IT Minister K Taraka Rama Rao, told BusinessLine here.
Confirming the development, a senior Government official told this paper that the State has given a few permissions like fire. “It will come up in 10 acres and we hope it will boost the Brand Hyderabad. We have assured all the help from our side,” the official said.
It is however, not clear whether the existing office also will move into the upcoming facility. John Schoettler visit to India assumes significance, especially in the backdrop of the big ticket investments announced by Jeff Bezos.
Hyderabad Metro Rail's track tests surprise citizens
L&T begins 'Test Run' of Hyderabad metro trains
Source : The Hindu Business Line, Aug 7, 2014
L&T Hyderabad Metro Rail Limited has begun test runs on a small stretch from its Uppal depot to Secunderabad section.
The concessionaire L&T expects to commission first stretch of 8 km of the 72-km elevated metro project by March 2015. Once the trial runs are completed, it will take up detailed tests of the rail network.
The Rs. 16,000-crore project seeks to decongest three dense corridors in the twin cities of Hyderabad and Secunderabad. The work on various stretches is now underway, including construction of depots and metro stations in the phase one of the project.
The tests were conducted in the evening today. There was no formal announcement. For those who witnessed the tests, it as a pleasant surprise. The project has sourced metro rail coaches from the Hyundai-Rotem consortium.
A metro project of this size and magnitude goes through a number of tests across various parameters. This was for the first time that the metro coaches were rolling out in public on the viaduct, attracting people’s attention. There was no official communication on the test runs.
Hyderabad outskirts get infrastructure boost
Source: Deccan Chronicle, Aug 04, 2014
The Telangana state government’s announcement to develop an industrial corridor between Hyderabad-Warangal has led to an infrastructure boost outside Hyderabad.
The Telangana state government’s announcement to develop an industrial corridor between Hyderabad-Warangal has led to an infrastructure boost outside Hyderabad.
The corridor on the eastern side of the city, touted as the second IT hub of Hyderabad, already houses companies like Infosys, Genpact, Axis Bank, among others. Infrastructure developers, including Confederation of Real Estate Developers’ Associations of India and Andhra Pradesh Real Estate Developers of India say several infrastructure projects are underway and many are in the planning stage.
With the first Metro Rail stretch from Nagole-Mettuguda set to get operational and a Metro Rail depot at Uppal by March 2015, infrastructure developers see a swing in residential real estate. In a review meeting of industrial policy for Telangana, Chief Minister K. Chandrashekar Rao said that Warangal will be developed into a second major city in Telangana after Hyderabad.
“The state government’s decision to develop the Hyderabad-Warangal stretch into an industrial corridor has given a boost to the already developing second IT Hub of Hyderabad. Several infrastructure projects including apartments, independent houses, layout ventures, gated communities are already underway at Uppal, Pocharam and beyond. Meanwhile, the operational outer ring road connecting Pedda Amberpet, Ghatkesar-Shamirpet is an added advantage for the sector,” said Ashok Swaminathan, of APREDA.
The IT Special Economic Zone in Uppal, which already has over 15 top fully functional IT companies, is attracting many more owing to lower rent for commercial spaces. Infotech, Suneratech IT solutions, 24/7, Truven Helath, GVK Technologies, Genpact and others are some of the companies that are fully operational in the region.
Uppal already houses NSL Arena, an IT SEZ with about 7 lakh sq ft area. The first phase of the project is complete and second phase will be taken up in early 2015. Two more phases will follow later.
“Another IT tower that is in the making at Uppal is will be completed by 2015. Already, over 10 to 15 companies are in negotiation for the commercial spaces,” said Rakesh Talwar, vice president of NSL Arena SEZ.
“Uppal and adjoining areas will be key markets in a few years. There is a lot of manpower available in these areas. At the same time, there are not many leisure and recreational spots for the IT crowd at this point of time. We want to fill this gap,” said C. Shekhar Reddy of Credai, adding that the project would be completed in about two years.
The company has already tied up with PVR Cinemas for a mall and has signed three IT clients as well, he said, adding that the rentals for Grade A IT office space in Uppal and surroundings would be about 50 per cent less compared to similar properties in the west side of the city.
Rentals in Uppal are around Rs 28 to Rs 30 per sq ft compared to Rs 50 to Rs 55 per sq ft prevalent in key micro markets of Hyderabad, he said. In addition, over 50 per cent of the IT employees working in Hitec City and Gachibowli live in Tarnaka and Uppal “This move will decongest the main city as 50 per cent of IT employees are said to be living in Tarnaka and Uppal area,” said said Sudheer Mareddi, managing director, Suneratech.
Telangana plans expanding Hyderabad Metro to 250 km
Source: The Hindu Business Line Aug 1, 2014
KT Rama Rao flags off one-year rail tech post-graduate programme
Hyderabad:
The Telangana Government on Friday said it was committed to expedite the Hyderabad Metro Rail project.
KT Rama Rao, State Minister for IT, said the Government was keen to complete the project as per schedule and provide necessary support. However, he said, there were a few issues that need to be sorted out with regard to metro project and expressed confidence in implementing the project as per plans.
He said with Hyderabad projected to grow to a mega metropolis over the next 20 years, the State might have to draw up plans to increase the network from the current 72 km to 250 km to meet the needs of the growing population.
Speaking at the launch of the first batch of post-graduate course in metro and rail technology by the Institute of Metro and Rail Technology (IMRT), he said, "Hyderabad will be developed as an investment destination in various sectors including IT, science, pharma, films, sports etc."
He said the State was exploring the option of a Light Rail Transport System for Hyderabad.
NVS Reddy, Managing Director of Hyderabad Metro Rail Ltd, said the Telangana Government now owns the ₹14,132-crore project, which is supported by a viability gap funding of ₹1,458 crore from the Central Government, working out to about 10 per cent of the project cost.
A Central Project Monitoring Group is monitoring all projects with investments of over ₹1,000 crore and this project is part of that. Telangana Chief Minister K Chandrasekhar Rao has suggested the metro project could consider the alignment change at two places where historical sites are located at Assembly and Sultan Bazaar.
"We are now in the process of conducting feasibility study to see if this could be done by realigning the project, with minimum expenditure. So far no decision has been taken on realignment," Reddy explained. "Based on the technical feasibility, if there are changes, the concessionaire L&T will be compensated. The changes are likely to be minimal," he said.
About 40 per cent of the project work has been completed and 4,300 crore spent. By March 2015, stage one will be operational, he said. IMRT commenced its first batch of one-year specialised post graduate programme.
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