HUDCO Q3 results, reports 42% growth in net profit, enhances borrowing limit

For the quarter that ended on December 31, HUDCO said that no fresh NPA in project loans were added during the quarter. Additionally, three NPA in the project loans have been resolved, according to the company.

HUDCO Q3 results, reports 42% growth in net profit, enhances borrowing limit
HUDCO Q3 results, reports 42 growth in net profit, enhances borrowing limit

State-owned Housing and Urban Development Corporation reported a 42% growth in its net profit in comparison to the same quarter last year. Net profit for the quarter stood at Rs 735 crore, in comparison to the Rs 519 crore it reported during the same quarter last year. Net Interest Income (NII) or core income for the lender increased by 47% to Rs 983 crore from Rs 667 crore it reported in the year-ago quarter.

For the quarter that ended on December 31, HUDCO said that no fresh NPA in project loans were added during the quarter. Additionally, three NPA in the project loans have been resolved, according to the company.

The PSU company has also announced an interim dividend of Rs 2.05 per share. The stock currently has a face value of Rs 10 each. The record date for the dividend has been fixed as January 30, 2025.

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : Shri Vijoy Kumar Singh appointed as Director (IM&O) of CONCOR

In addition, the board has also approved an enhancement of its existing borrowing plan for the financial year 2025 to Rs 55,000 crore from the existing Rs 40,000 crore, subject to outstanding borrowings at any given point of time, not exceeding the overall borrowing limit.

The board has also approved the proposal to exit from Ind Bank Housing Ltd., which is an associate company. The modalities are yet to be finalized for the same.

Shares of HUDCO have recovered yet trading 1.4% lower at Rs 226.14.

Read Also : Secretary, MoPNG visited RE Pavilion at IEW 2025, hosted by HPCL

Shri Sanjay Kulshrestha, Chairman & Managing Director of HUDCO, while expressing his satisfaction at the exceptional Financial Results said, "HUDCO, being a government company under MoHUA with lowest levels of NNPA, Debt-Equity and comfortable CAR is envisaged to play a vital role in creating assets for the nation by funding infrastructure projects. He thanked investors for reposing confidence in HUDCO which has helped in increasing the market cap from Rs. 37,500 Crores in March, 2024 to over Rs. 47,045 Crores in Dec 2024, within a short span of 9 months. In order to optimize cost of borrowings, funds through External Commercial Borrowings (ECB) route are being mobilized/ explored. Current Fiscal Budget has laid thrust on Housing and Infrastructure in a big way and HUDCO is geared to capitalize on these opportunities.

CMD, HUDCO attributed the company's growth to the trust and support of the stakeholders. He conveyed gratitude to Shri Manohar Lal Khattar, Hon'ble Union Minister of Housing and Urban Affairs; Shri Tokhan Sahu, Hon'ble Minister of State, Housing & unstinted Urban Affairs; Shri Katikithala Srinivas, Secretary, MoHUA and Board of Directors for their support and guidance.

Read Also : Civil Construction PSU stock, NBCC witnessed Stock Decline over 4% amid market volatility