PSUs

HUDCO posts 51.80% growth in PAT

By Indian Mandarins- 26 Jul 2017
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HUDCO's Quarterly results for the Quarter ended 30th June, 2017 are out. It has posted 51.80% growth in Profit After Tax (PAT) in comparison with corresponding quarter ended June, 2016. HUDCO's sanctions increased by 100% on QoQ basis and in the same period disbursements increased by 38% on QoQ basis. HUDCO is also extending financial assistance for flagship schemes of many State Govts. like Safe Drinking Water Project 'Mission Bhagirathi' and 'Two Bed Room Housing' of Govt. of Telangana and Affordable Housing Project of Govt. of Andhra Pradesh. During April - June quarter, HUDCO sanctioned loans to various housing projects to Uttar Pradesh, under Pradhan Mantri Awas Yojana (Urban) & Pradhan Mantri Awas Yojana (Gramin) besides, Urban Infrastructure Schemes for improvement of roads and construction of bridges. HUDCO is one of the Central Nodal Agencies (CNA) to channelize the subsidy under the Pradhan Mantri Awas Yojana's Credit Linked Subsidy Scheme (CLSS) and is making efforts in 'Reaching the Unreached'. The 47 years old CPSE has been an integral part of Govt of India's actionable programmes & policies related to housing and urban infrastructure. HUDCO has financed various prestigious projects such as Cochin International Airport, National Games Village - Imphal, Bangalore Metro Rail, etc.   

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Indianmandarins.com, an initiative of New Media Network, is a multi-media initiative for the fast and real-time dissemination of news and information related to civil services, central PSUs and other institutions that play a critical role in governance, administration, corporate governance, and public life in India. We aspire to provide our esteemed readers with news breaks and situation analysis in the above-mentioned domain of operations. Currently, we are available at www.indianmandarins.com. We are now planning to branch off into print publication and few other related business initiatives.