Housing & Urban Development Corporation Ltd Share Price – NSE  / BSE

Finance, Small Cap

The MoU is a collaboration to extend long-term financial assistance in terms of loan towards various projects on both sides of Yamuna Expressway undertaken by YEIDA.

The agreement includes offering a comprehensive range of fee-based consultancy services from concept to commissioning in identified sectors and project management consultancy services from project conceptualisation to completion, at mutually decided terms.

Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.

The company’s consolidated net profit jumped 25.2% to Rs 557.75 crore on 18.7% increase in total income to Rs 2,197.19 crore in Q1 FY25 over Q1 FY24.

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Housing & Urban Development Corporation (HUDCO) announced that Daljeet Singh Khatri (DIN: 06630234) has assumed the charge of Director (Finance), HUDCO w.e.f. 14 August 2024.

He is an Associate Member of the Institute of Cost Accountants of India. He is also a Certified Associate of Indian Institute of Bankers. Daljeet Singh Khatri has over 26 years of experience in various Financial Institutions such as REC, SIDBI and NHB. Prior to joining HUDCO, he was working with REC as Executive Director (Finance). He was instrumental in implementation of various systemic improvements in REC. He has diverse experience in core finance functions such as Domestic and International Funds Mobilization, Treasury Management, Project Appraisal, Assets and Liability Management, Risk Function, Financial Concurrence and Formulation of Financial Policies, Contracts and Procurement Management etc.

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Net profit of Housing & Urban Development Corporation rose 25.15% to Rs 557.75 crore in the quarter ended June 2024 as against Rs 445.65 crore during the previous quarter ended June 2023. Sales rose 18.76% to Rs 2188.35 crore in the quarter ended June 2024 as against Rs 1842.61 crore during the previous quarter ended June 2023.

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Housing & Urban Development Corp. will hold a meeting of the Board of Directors of the Company on 12 August 2024.

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