HUDCO registers highest ever net profits at Rs. 2116.74 cr for FY2324

New Delhi : Housing and Urban Development Corporation Ltd. (HUDCO), Navratna PSU under the aegis of Ministry of Housing and Urban Affairs registered highest ever net profits at Rs. 2116.74 cr for FY2324.

The company’s ‘disbursals increased by around 112 % which stood at Rs. 17987 cr for the year, while loan sanctions stood at Rs. 82387 cr.

Housing and Urban Development Corporation Ltd. (HUDCO) having ‘Navratna’ Status and incorporated as a fully owned Government Company under the Companies Act, 1956 with the main objective of financing Housing and Urban development projects in the country. In order to achieve this objective,

HUDCO finances a variety of housing and urban development projects formulated by the State Housing Boards, Development Authorities, Improvement Trusts, Co-operative Housing Societies etc.

Over the years HUDCO has emerged as the leading public financial institution with the major objective of financing and encouraging housing and urban development activity in the country and has developed sound capabilities of project preparation, appraisal, financial planning and monitoring.

Housing and Urban Development Corporation Ltd. (HUDCO) has informed exchanges that its board of directors has recommended a final dividend of Rs 2.65 per equity share of face value of Rs 10 each for 2023-24. However, this is subject to the approval of shareholders in the ensuing Annual General Meeting (AGM).