Must Read

HUDCO registers 87% growth in disbursements in FY 2018-19

By IndianMandarins- 03 Apr 2019
550

hudco-registers-87%-growth-in-disbursements-in-fy-2018-19

HUDCO CMD, Dr M Ravi Kanth, has said that the during 2018-19, the company sanctioned a total of 20.6 lakh dwelling units those in the EWS and LIG categories involving the disbursement of Rs. 31,010 crores, representing a growth of 87% over the previous year’s disbursements of 16,565 crores. 

 

He said HUDCO became a listed company in 2017 and has maintained its AAA rating for the third consecutive year. As of December 2018, HUDCO’s gross NPA stood at 5.82% and net NPA at 0.80%, which is among the lowest in the sector. HUDCO is expected to get Excellent rating for the eighth year in a row, for the tripartite MoU signed by HUDCO with MoHUPA and DPE for the year 2018-19.

 

Dr. Kanth pointed out that since inception, the company has financed over 17,100 housing and infrastructure projects with a cumulative sanction of Rs. 2,01,931 crore and disbursements of Rs.1,66,175 crore. HUDCO has supported more than 19.34 million houses in the country, both in rural and urban areas, thus making it the largest facilitator of housing delivery in the country.

 

HUDCO has also been consistently working to accelerate the pace of providing quality urban infrastructure in the country over the decades by financing over 2,200 infrastructure projects, covering utility, social and commercial infrastructure. Major infrastructure projects sanctioned include a line of credit of Rs. 2175.30 crore to Odisha Urban infrastructure Fund Board for stormwater/drainage works in five cities of Odisha and financial assistance of Rs. 200 crore to Agartala Smart City Ltd.

 

HUDCO has been identified as one of the Central Nodal Agencies (CNA) to channelize the subsidy under the Credit-Linked Subsidy Scheme of Housing for All (Urban) Programme under the Pradhan Mantri Awas Yojana. As CNA, HUDCO has executed MoU with 86 Banks/ Prime Lending Institutions (PLIs) for EWS/LIG category and with 80 Banks/PLIs for MIG-I and MIG-II. It has disbursed Rs.318.03 crore as CLSS subsidy to EWS/LIG 14825 beneficiaries and Rs.86.33 Crore as CLSS subsidy to 4215 MIG beneficiaries till 31-03-2019.

 

During 2018-19, the company disbursed Rs.260.99 crore CLSS subsidy to 11738 EWS/LIG beneficiaries and Rs.80.96 crore CLSS subsidy to 3937 MIG category beneficiaries, through its Retail Finance Window i.e. HUDCO Niwas.

 

As part of its capacity-building efforts, HUDCO conducted five research studies and 16 training programmes, including three International training programme for professionals under the ITEC programmes of the Ministry of External Affairs.

 

The annual HUDCO Design Awards, which give recognition and encourage innovative ideas of architects, town planners, and engineers that make cities inclusive, liveable and environmentally sustainable, were given to seventeen awardees under five categories.

 

In line with the thrust areas identified in its Corporate Social Responsibility (CSR) and Sustainability Policy, HUDCO has sanctioned assistance of Rs. 9.30 crore for socially beneficial proposals all over the country, such as sanitation, education and healthcare, renewable energy solutions, employment-oriented skill training programmes and rehabilitation housing for flood victims in Kerala.

free stat counter

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.