Housing & Urban Development Corporation Ltd. (HUDCO), the premier techno-financing CPSE under the Ministry of Housing and Urban Poverty Alleviation (MoHUPA), posted a profit of Rs.782 crore (provisional), the highest ever profit so far in FY16. Loan outstanding as of 31st March 2016, has touched a level of Rs.35,395 crore, resulting in a year-on-year growth of 9 %. It may enable the company to get an "Excellent" rating consecutively for the fifth year in a row, for the MoU signed with MoHUPA for the year 2015-16.
HUDCO's loan sanctions in the year were highest ever since inception at Rs.30, 774 crores.So were the release of funds at Rs.8,250 crore.
It has been assigned "AAA" Rating, for the first time on a "Stand-Alone Basis", from 3 major rating agencies of the country. Also, It raised Rs. 5,000 crore through Tax-Free Bonds successfully at a competitive rate.
The company recently entered into a MoU with Govt. of Telangana for "Mission Bhagiratha", a safe drinking water flagship project and with Telangana State Housing Corporation for the construction of houses for weaker section families.
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HUDCO posts highest-ever profit
By IndianMandarins - 2016-05-17 09:13:14
Housing & Urban Development Corporation Ltd. (HUDCO), the premier techno-financing CPSE under the Ministry of Housing and Urban Poverty Alleviation (MoHUPA), posted a profit of Rs.782 crore (provisional), the highest ever profit so far in FY16. Loan outstanding as of 31st March 2016, has touched a level of Rs.35,395 crore, resulting in a year-on-year growth of 9 %. It may enable the company to get an "Excellent" rating consecutively for the fifth year in a row, for the MoU signed with MoHUPA for the year 2015-16.
HUDCO's loan sanctions in the year were highest ever since inception at Rs.30, 774 crores.So were the release of funds at Rs.8,250 crore.
It has been assigned "AAA" Rating, for the first time on a "Stand-Alone Basis", from 3 major rating agencies of the country. Also, It raised Rs. 5,000 crore through Tax-Free Bonds successfully at a competitive rate.
The company recently entered into a MoU with Govt. of Telangana for "Mission Bhagiratha", a safe drinking water flagship project and with Telangana State Housing Corporation for the construction of houses for weaker section families.
