Mumbai (22.01.2025): Housing and Urban Development Corporation Limited (HUDCO) reported a remarkable 39.87% increase in the Profit After Tax (PAT) Year-over-Year (YoY) and 6.74 % increase Quarter on Quarter (QoQ) for the third quarter ending December 2024 (Fiscal year 2024-25). The Revenue from Operations recorded a growth of 30.55% YoY and 9.63 % increase QoQ. This outstanding performance is attributed to consistent growth in the Loan Book from Rs 84,424 crore to Rs 1,18,931 crore YoY and a significant reduction in Net Non Performing Assets (NPAs) from 0.44 % to 0.27 % YoY. Key financial highlights for QE December 2024, FY 2024-25 compared to QE December 2023, FY 2023-24 are as follows: • Revenue from Operation: Growth of 30.55 % on YoY for 9M from Rs 5,719.07 crore to Rs 7,466.13 crore • Profit after tax: Growth of 39.87 % on YoY for 9M from Rs.1,416.58 Crore to Rs 1,981.40 Crore • Loan Book: Growth from Rs 84,424 Crore to Rs 1, 18,931 Crore YoY • Gross NPAs: Significant reduction from 3.14 % to 1.88 % YoY • Net NPAs: Significant reduction from 0.44 % to 0.27 % YoY • Earnings Per Share: Growth YoY from Rs. 7.08 to Rs. 9 .90 Sanjay Kulshrestha, Chairman & Managing Director of HUDCO, 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 crore 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.
Mumbai (22.01.2025): Housing and Urban Development Corporation Limited (HUDCO) reported a remarkable 39.87% increase in the Profit After Tax (PAT) Year-over-Year (YoY) and 6.74 % increase Quarter on Quarter (QoQ) for the third quarter ending December 2024 (Fiscal year 2024-25). The Revenue from Operations recorded a growth of 30.55% YoY and 9.63 % increase QoQ. This outstanding performance is attributed to consistent growth in the Loan Book from Rs 84,424 crore to Rs 1,18,931 crore YoY and a significant reduction in Net Non Performing Assets (NPAs) from 0.44 % to 0.27 % YoY.
Key financial highlights for QE December 2024, FY 2024-25 compared to QE December 2023, FY 2023-24 are as follows:
• Revenue from Operation: Growth of 30.55 % on YoY for 9M from Rs 5,719.07 crore to Rs 7,466.13 crore
• Profit after tax: Growth of 39.87 % on YoY for 9M from Rs.1,416.58 Crore to Rs 1,981.40 Crore
• Loan Book: Growth from Rs 84,424 Crore to Rs 1, 18,931 Crore YoY
• Gross NPAs: Significant reduction from 3.14 % to 1.88 % YoY
• Net NPAs: Significant reduction from 0.44 % to 0.27 % YoY
• Earnings Per Share: Growth YoY from Rs. 7.08 to Rs. 9 .90
Sanjay Kulshrestha, Chairman & Managing Director of HUDCO, 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 crore 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.