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HUDCO
State-owned infra financing institution Housing and Urban Development Corporation Ltd (Hudco) is in talks with multilateral development banks, including ADB, and institutions to mobilise USD 1 billion to fund infra projects in the country, its Chairman and Managing Director Sanjay Kulshreshta said. "We are in advanced discussion with KfW (Germany's state-owned development bank) to raise USD 200 million," he told PTI. Besides, the company is in talks with multilateral development banks like the Asian Development Bank for a loan of USD 500 million and USD 200-300 million from the Asian Infrastructure Investment Bank in the current financial year, he said. "We are hoping to finalise these fundraises of about USD 1 billion during the current financial year for on-lending to infrastructure projects," he added. Foreign funding will not only diversify the resource-raising stream but also bring down the cost of funds, he said. Further elaborating on the company's initiative to achieve bet
Housing and Urban Development Corporation Ltd (Hudco) on Monday reported a 3 per cent rise in net profit to Rs 710 crore for the September quarter. The state-owned company had earned a net profit of Rs 689 crore in the year-ago period. The company's total income rose to Rs 3,251 crore in the second quarter of this fiscal year from Rs 2,526 crore in the corresponding period of the preceding year, Hudco said in a regulatory filing. Hudco is a premier techno-financing public sector enterprise in the field of housing and infrastructure development. The company earned interest income in the second quarter at Rs 3,197 crore as against Rs 1,844 crore a year ago. During the quarter, the expenses also rose to Rs 2,296 crore against Rs 1,526 crore in the same period a year ago. Commenting on quarterly numbers, Hudco chairman and managing director Sanjay Kulshreshta said that the company expects its CAGR to grow by over 25 per cent during the year owing to the government's strong emphasis o
State-owned NBCC (India) Ltd has signed an initial pact with HUDCO to develop projects worth Rs 117 crore. In a statement on Monday, NBCC said it has signed a Memorandum of Understanding (MoU) with the Housing and Urban Development Corporation Ltd (HUDCO) to "execute transformative development projects in Panchkula, Kaushambi, Ahmedabad and New Delhi." The MoU was signed by Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, and K P Mahadevaswamy, Chairman and Managing Director of NBCC. Under this agreement, NBCC will develop a commercial complex at Kaushambi in Ghaziabad, an integrated redevelopment of HUDCO's land parcel at Panchkula, in Haryana and construction of new blocks at HUDCO's Regional Office in Ahmedabad. It would also include the reconstruction of residential flats at the Asian Games Village Complex in the national capital. "Together, these projects represent a combined investment of more than Rs 117 crore and will be executed on a turnkey basis by NBCC," th
Housing and Urban Development Corporation Limited (HUDCO) plans to raise up to Rs 3,000 crore by issuing non-convertible debentures. In a regulatory filing on Monday, the company informed that the Board of Directors had in April this year approved a proposal to raise up to Rs 65,000 crore through the issue of bonds/debentures in 2025-26. The Bond Allotment Committee, in its meeting to be held on August 29, 2025, proposes to approve the issue/ allotment of unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs of face value of Rs 1 lakh each, aggregating up to Rs 3,000 crore on a private placement basis. HUDCO is a premier techno-financing public sector enterprise in the field of housing and infrastructure development. The company recently reported a 13 per cent increase in its consolidated net profit to Rs 630.23 crore for the first quarter of this fiscal. Its net profit stood at Rs 557.75 crore in the year-ago period. The total income rose to Rs 2,945.47 crore in t