Metro users can cover the distance in 22 minutes for Rs 35.
The court had, in September, ordered suspension of the tunnelling work for the East-West Metro corridor, following the Bowbazar incident.
Reddy would report to S N Subrahmanyan, Chief Executive Officer and Managing Director, L&T.
The concept of Hyperloop mode of transportation is notably backed by business magnate and inventor Elon Musk. But it has not been implemented for practical use anywhere in the world yet.
Rupani made the announcement after visiting Vastral area here to review the Metro project, being constructed by Metro-link Express for Gandhinagar and Ahmedabad (MEGA).
This is the fourth metro project IL&FS have taken up after two in Gurgaon, and one each in Bangalore and Kolkata.
In an interview with CNBC-TV18, S Ramnarth, Chief Financial Officer of ITD Cementation said with new projects lined up, he expects the company to turn profitable in CY15.
Maharashtra Chief Minister Prithviraj Chavan approved Rs 4,028.57-crore budget presented by the Mumbai Metropolitan Region Development Authority (MMRDA) for 2013-14.