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Mumbai Metro One Private Limited (MMOPL), a subsidiary of Reliance Infrastructure, has signed a debt restructuring agreement with National Asset Reconstruction Company Limited (NARCL), reducing its debt by over INR 1,100 crore. The restructuring is expected to lead to the withdrawal of insolvency proceedings against the company. MMOPL, which operates Mumbai Metro Line-1, aims to strengthen its financial position while ensuring uninterrupted metro services. The agreement is valued at INR 2,771.32 crore and marks a key step in resolving the company's long-pending debt obligations.
Mumbai Metro One Private Limited (MMOPL), a subsidiary of Reliance Infrastructure, has reduced its debt by more than INR 1,100 crore as of March 31, 2026, following a debt restructuring agreement with National Asset Reconstruction Company Limited (NARCL). The restructuring is expected to result in the withdrawal of insolvency proceedings initiated against the company.
The agreement with NARCL was signed in the past week and is valued at INR 2,771.32 crore, according to a regulatory filing by Reliance Infrastructure.
MMOPL is a joint venture between Reliance Infrastructure Limited and the Mumbai Metropolitan Region Development Authority (MMRDA). The company owns, operates and maintains the Versova–Andheri–Ghatkopar Metro Line-1, Mumbai's first metro corridor, which connects the city's eastern and western suburbs.
Reliance Infrastructure holds a 74 per cent stake in MMOPL, while the remaining 26 per cent is owned by MMRDA.
According to the regulatory filing, the restructuring will reduce MMOPL's current debt payable to NARCL by more than INR 1,100 crore. As part of the agreement, the insolvency proceedings initiated against the company are also expected to be withdrawn, providing financial relief to the metro operator.
The company said the restructuring represents an important step in resolving MMOPL's debt obligations and improving its financial position. It added that the revised financial structure will allow the company to continue focusing on the efficient and uninterrupted operation and maintenance of the Versova-Andheri-Ghatkopar Metro Line-1 while supporting its long-term operational sustainability.
MMOPL has been operating Metro Line-1 since 2014, and the corridor has emerged as one of Mumbai's busiest urban transit routes, carrying several lakh passengers every day. Over the years, the company has faced financial challenges, including debt-related issues and legal proceedings, making the restructuring a key development for its future operations.
Source PTI
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