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HUDCO posts robust financial results in 2018-19

By Indian Mandarins- 28 May 2019
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Dr M. Ravi Kanth, CMD HUDCO, shared the highlights of HUDCO’s robust performance in 2018-19, wherein the company has witnessed a 17% rise in Net Profit that has touched an all-time high of Rs.1180 crore in 2018-19, from Rs.1010 crore in 2017-18. HUDCO has seen a 10% growth in its net worth that has reached Rs.10956 crore in 2018-19, from Rs. 9943 crore in 2017-18. The net total income also witnessed a jump of 33% to Rs. 5548 crore in 2018-19, from Rs. 4,171 crore in 2017-18.

 

HUDCO has disbursed Rs. 31,009 crore, which is a growth of 87% in 2018-19, from Rs.16,565 crore in 2017-18. The balance sheet size of HUDCO has seen a quantum jump of 49% to Rs.72829 crore in 2018-19, from Rs. 48915 crore in 2017-18. HUDCO’s Net NPA is 0.50%, which is among the lowest in the sector.

 

During the year 2018-19, a total of 20.68 lakh dwelling units were sanctioned, including EWS and LIG category, as against 8.88 lakh units in 2017-18.

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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.