 "Hudco Q3 results: PAT grows 41.6% to Rs 735 cr, revenue at Rs 2,760.23 cr")
Housing and Urban Development Corporation (Hudco) posted a net profit of Rs 735 crore for the third quarter of FY25, up 41.6 per cent year-on-year (Y-o-Y).
The Non-Banking Financial Company-Infrastructure Finance Company (NBFC-IFC) also reported a Y-o-Y increase of 37.14 per cent in revenue from operations during the quarter, with revenue at Rs 2,760.23 crore.
For the first nine months of FY25 (9M FY25), Hudco’s net profit rose by 39.87 per cent Y-o-Y to Rs 1,981.40 crore. Revenue during the same period increased by 30.55 per cent Y-o-Y, to Rs 7,466.13 crore. The company attributed this performance to growth in its loan book and a reduction in non-performing assets (NPAs).
In 9M FY25, Hudco’s loan book grew by approximately 41 per cent Y-o-Y to Rs 1,18,931 crore, with around 40.17 per cent exposure to affordable housing. Its affordable housing portfolio is expected to expand under the Pradhan Mantri Awas Yojana 2.0 (PMAY 2.0).
Hudco will provide counterpart funding for states’ shares in both PMAY-Rural 2.0 and PMAY-Urban 2.0. It has also been appointed as one of the central nodal agencies for implementing the interest subsidy scheme (ISS) component.
During 9M FY25, HUDCO’s net NPAs reduced from 0.44 per cent to 0.27 per cent Y-o-Y.
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Sanjay Kulshrestha, chairman and managing director of Hudco, said, “Hudco, as a government company under the Ministry of Housing and Urban Affairs (MoHUA), with the lowest levels of NNPA, a strong debt-equity ratio, and a comfortable capital adequacy ratio (CAR), is poised to play a vital role in creating national assets by funding infrastructure projects.”
On January 21, Hudco formalised a partnership with Vadhvan Port Project Limited (VPPL), committing up to Rs 25,000 crore for new port development and Public-Private Partnership (PPP) projects. Kulshrestha mentioned that the funding could be utilised over one or two years.
The Vadhvan Port project, executed by JNPT with 74 per cent equity, has an estimated cost of Rs 76,220 crore. Once completed, the port will be India’s 13th major and largest container port. The first phase is expected to be completed by 2029.
The all-weather greenfield deep draft port, located in Palghar district, Maharashtra, is being developed under a landlord model, with terminals built through PPPs.
Kulshrestha also noted that Hudco’s market capitalisation rose from Rs 37,500 crore in March 2024 to over Rs 47,045 crore in December 2024, marking significant growth in nine months.