Mumbai, Maharashtra – Housing and Urban Development Corporation Limited (HUDCO) reported stellar Q3 2023 financials, endorsed by the Board of Directors in today’s meeting. Year over Year (YoY), the company demonstrated a remarkable 33.33% surge in Net Profit, reaching Rs. 1,416.58 crore. Revenue from Operations also saw a substantial 10.04% YoY growth, totaling Rs. 5,719.07 crore.
This success is credited to a consistent increase in the Loan Book, rising from Rs. 79,290 crore to Rs. 84,424 crore YoY. Notably, Net Non-Performing Assets (NPAs) dropped significantly from 0.96% to 0.44% YoY.
Shri Sanjay Kulshrestha, Chairman & Managing Director of HUDCO, expressed satisfaction, highlighting HUDCO’s pivotal role in funding infrastructure projects. He thanked stakeholders, attributing the company’s growth to the support of Shri Hardeep Puri, Union Minister of Housing and Urban Affairs, Shri Kaushal Kishore, Hon’ble Minister of State, Housing & Urban Affairs, Shri Manoj Joshi, Secretary, MoHUA, and the Board of Directors.
With a market cap soaring from Rs. 10,000 crore to over Rs. 40,000 crore in just nine months, HUDCO remains poised to capitalize on opportunities in the Housing and Infrastructure sectors, aligning with the current fiscal budget’s emphasis.
