At the 54th Annual General Meeting (AGM) of **HUDCO Limited**, chaired by **Shri Sanjay Kulshrestha**, Chairman & Managing Director (CMD), the company showcased an outstanding operational and financial performance for FY 2023-24. Held via video conferencing, the AGM highlighted HUDCO’s remarkable achievements, including record loan sanctions, disbursements, and profits, reflecting the company’s strengthened financial position and business expansion.
In his address, the CMD emphasized the company’s recent attainment of **Navratna CPSE** and **NBFC-IFC** status, which has opened up new opportunities for HUDCO. These designations are expected to significantly enhance the company’s capacity for **resource mobilization**, **business generation**, and **profitability**. HUDCO’s achievements in FY 2023-24 mark a pivotal step forward, laying the groundwork for further growth in the coming years.
Shri Kulshrestha underscored HUDCO’s strategic alignment with India’s **net-zero goals**. The company is poised to contribute significantly to the emerging **green economy**, with plans to invest in green buildings, sustainable transport, water and waste management, land management, and renewable energy. Furthermore, HUDCO aims to tap into the **blue economy** by financing projects related to ports, shipyards, and infrastructure under the **Sagarmala initiative**.
FY 2023-24 Key Performance Metrics:
– **Record Loan Sanctions**: ₹82,386.55 crore, marking a 235% year-on-year growth.
– **Loan Disbursements**: ₹17,987.03 crore, up by 112% from the previous year.
– **Total Income**: ₹7,948.10 crore, reflecting a 12% increase.
– **Net Profit**: ₹2,116.74 crore, representing a 22% rise, the highest in the company’s history.
– **Net Worth**: ₹16,614.30 crore, an 8% improvement.
– **Reduction in Gross NPAs**: Gross NPAs reduced to 2.71%, with Net NPAs at an industry-leading 0.36%.
In line with the **Government of India’s vision for a $7 trillion economy by 2030**, HUDCO aims to play a pivotal role in financing critical sectors such as **transportation infrastructure**, **smart affordable housing**, **urban metro rail**, and **industrial corridors**. Shri Kulshrestha affirmed that HUDCO is leveraging its deep expertise and extensive network to increase its involvement in flagship government missions. By FY 2047, HUDCO aims to significantly expand its financial support in areas like social infrastructure, health, and education.
Looking ahead, HUDCO has set an ambitious target to grow its balance sheet size to ₹3 lakh crore by FY 2030. This will be achieved by expanding partnerships with states and key business stakeholders, emphasizing its role in financing infrastructure projects that are crucial to India’s long-term growth.
Shri Kulshrestha also stressed the importance of **policy framework reviews**, aimed at maximizing business value while ensuring regulatory compliance. HUDCO’s focus on maintaining excellent asset quality, combined with a robust performance across all metrics, signals a strong growth trajectory for the future.
HUDCO’s commitment to sustainable growth and innovation marks a new chapter in its journey, positioning it as a key player in India’s infrastructure development and green economy transformation.
