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Housing & Urban Development Corporation Ltd.

BSE: 540530 Sector: Financials
NSE: HUDCO ISIN Code: INE031A01017
BSE 10:08 | 12 Apr 42.35 -2.15
(-4.83%)
OPEN

44.25

HIGH

44.25

LOW

41.70

NSE 09:59 | 12 Apr 42.40 -2.15
(-4.83%)
OPEN

44.10

HIGH

44.30

LOW

41.70

OPEN 44.25
PREVIOUS CLOSE 44.50
VOLUME 101518
52-Week high 54.95
52-Week low 20.50
P/E 5.68
Mkt Cap.(Rs cr) 8,478
Buy Price 42.25
Buy Qty 20.00
Sell Price 42.35
Sell Qty 3852.00
OPEN 44.25
CLOSE 44.50
VOLUME 101518
52-Week high 54.95
52-Week low 20.50
P/E 5.68
Mkt Cap.(Rs cr) 8,478
Buy Price 42.25
Buy Qty 20.00
Sell Price 42.35
Sell Qty 3852.00

Housing & Urban Development Corporation Ltd. (HUDCO) - Company History

HUDCO was incorporated as 'The Housing and Urban Development Finance Corporation Private Limited' on April 25 1970 as a private limited company under the Companies Act 1956 and was granted a certificate of incorporation by the then Registrar of Companies Delhi. Subsequently the name of the Company was changed to its present name 'Housing and Urban Development Corporation Limited' and a fresh certificate of incorporation dated July 9 1974 was issued by the then Registrar of Companies Delhi & Haryana. The Company is a public sector undertaking engaged in providing loan financing for housing and urban infrastructure projects in India. In 1977 HUDCO launched rural housing schemes for providing loan assistance for construction of rural houses. In 1986 the company established the Human Settlement Management Institute the research and training division of the company. In 1988 the company commenced urban infrastructure financing. In 1996 the company was notified as a public financial institution under Section 4A of the Companies Act 1956 by the Department of Company Affairs Ministry of Finance GoI. In 1999 HUDCO began retail financing under the brand name HUDCO Niwas. In 2012 the company's profit after tax (PAT) crossed Rs 600 crore marks. During the financial year 2011-2012 the company raised Rs 5000 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 4684.7 crore raised through a public issue of tax-free bonds. In 2013 HUDCO's PAT crossed Rs 700 crore mark. During the financial year 2012-2013 the company raised Rs 2401.35 crore through a public issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year. During the financial year 2013-2014 HUDCO raised Rs 4987.12 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 4796.32 crore raised through a public issue of tax-free bonds. During the financial year 2015-2016 the company raised Rs 5000 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 3500 crore raised through a public issue of tax-free bonds. Government of India (GoI) carried out disinvestments of 20.4 crore shares constituting 10.19% stake in HUDCO via an initial public offer (IPO) in May 2017. Post successful completion of the IPO GoI's stake in HUDCO came down to 89.81% from 100%. HUDCO shares were listed on the bourses on 19 May 2017.On 28 March 2018 the Board of HUDCO approved the annual borrowing programme of maximum upto Rs 40000 crore for the financial year 2018-19 through various sources/modes. The borrowing limit includes the power to make a private placement of non-convertible debentures (NCDs) subject to the approval of the shareholders of the company in general meeting. On 28 May 2018 HUDCO announced that an old default case of a borrower has been substantially resolved after prolonged litigation where HUDCO has received an amount of Rs 317 crore against the dues of Rs 469.38 crore as on 31 March 2018.Housing and Urban Development Corporation Limited (HUDCO) came out with an Initial Public Offering (IPO) of 204058747 equity shares of Face Value of Rs 10 each for cash at a price of Rs 60 per equity share aggregating to Rs1209.78 Crores. There was no fresh issue of shares by the company. The IPO was priced at Rs 60 per share.As at 31st March 2019 89.81% of the shareholding is held by President of India through the Ministry of Housing and Urban Affairs (MoHUA) - 69.08% and Ministry of Rural Development (MoRD) - 20.73% respectively and balance 10.19% is held by Public.During the year 2019 HUDCO successfully completed the consultancy services for construction of Office building for Archaeological Survey of India at Tilak Marg New Delhi. As on 31st March 2019 HUDCO has three Joint Venture Companies namely a) Shristi Urban Infrastructure Development Ltd. (SUIDL) b) Pragati Social Infrastructure & Development Ltd. (PSIDL) and c) Signa Infrastructure India Ltd. (SIIL) Further there is one associate namely Ind Bank Housing Limited. In the case of an associate Company namely Ind Bank Housing Limited the company made an investment of Rs 2.50 crore in its equity being 25% of the paid-up equity share capital. The Company provided for full diminution in the value of investment made in IBHL. During the year 2019 HUDCO sanctioned 55 proposals for financial assistance of Rs 7196 crore (inclusive of proposals for loan assistance of Rs 893 crore in North Eastern States) under different sectors like water supply drainage power sector social infrastructure commercial infrastructure road & transport etc. against which an amount of Rs 3594 crore has been released.During the first quarter of financial year 2019-20 ended 30th June 2019 The Company sanctioned a total loan of Rs 4211.08 crore and disbursed an amount of Rs 3838.88 crore.

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