HUDCO board approves issuance of NCDs amounting to Rs 2,190 crore

Housing & Urban Development Corporation said that its board has approved a proposal to raise funds aggregating up to Rs 2,190 crore via issue of non-convertible debentures.

The proposed NCDs would be unsecured, taxable, redeemable and non-cumulative. Each NCD would have a face value of Rs 1 lakh each.

The NCDs would bear an annual coupon rate of 6.90% and would be redeemable at par at the end of the fifth year.

Housing & Urban Development Corporation (HUDCO) is primarily engaged in the business of financing housing and urban development activities in the country. As on December 2024, the Government of India held 75% in the company.

 

The company's consolidated net profit jumped 41.6% to Rs 735.03 crore while total income increased 36.9% to Rs 2770.14 crore in Q3 FY25 over Q3 FY24.

The scrip declined 4.06% to currently trade at Rs 219.65 on the BSE.

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