HUDCO

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"The Budget allocated Rs 1.59 trillion to housing and urban development over FY25RE of Rs 1.06 trillion which was a downward revision in FY25RE from FY25BE of Rs 1.25 trillion," JM Financial said

The company recently committed funding of Rs 25,000 crore for port development

HUDCO intends to create an institutional complex which is may have 8.71 Lakh sq ft. of built-up area with a mix of office space, studio apartments, conference space and retail & common facilities

Housing and Urban Development Corporation Ltd (HUDCO) on Tuesday reported a 52 per cent increase in consolidated net profit to Rs 688.62 crore for the September quarter. Its net profit stood at Rs 451.65 crore in the year-ago period. The company's total income rose to Rs 2,526.14 crore in the second quarter of this fiscal year from Rs 1,880.85 crore in the corresponding period of the preceding year, according to a regulatory filing. Housing and Urban Development Corporation Ltd (HUDCO) is a premier techno-financing public sector enterprise, in the field of housing and infrastructure development.

Housing and Urban Development Corporation Ltd (HUDCO), a navaratna central public sector enterprise, has come forward to lend Rs 11,000 crore for the construction of Amaravati greenfield capital city in Andhra Pradesh, the state government said on Monday. Municipal Minister P Narayana, who was in Delhi today, met with HUDCO chief executive Sanjay Kulshrestha and explained to him about the state's government's plans for Amaravati development. "Satisfied by the state government's proposals, HUDCO CEO agreed to lend Rs 11,000 crore to Andhra Pradesh Capital Region Development Authority (AP CRDA) for Amaravati construction," an official release said. Out of the Rs 26,000 crore needed for constructing Amaravati Phase-1, the World Bank and Asian Development Bank (ADB) came forward to lend Rs 15,000 crore and the fresh promise of Rs 11,000 crore loan by HUDCO will ensure that the required amount of Rs 26,000 crore has been taken care of, it added.

Singhania said the company's investments in capacity expansion a couple of years ago, which are now coming online, are helping it capitalise on opportunities arising from the challenges in Bangladesh

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Housing and Urban Development Corporation (HUDCO) has raised USD 200 million (JPY 30 billion) in its maiden foray into the syndicated loan market, its arranger said on Tuesday. The state-run body has raised the five-year money as part of its inaugural "social loan", Japan's Sumitomo Mitsui Banking Corporation (SMBC) said. The deal, led by SMBC's Singapore branch, saw an oversubscription with a total of nine lenders, and was upsized from its original launch size of JPY 15 billion to JPY 30 billion after exercising the greenshoe option, an official statement said. The inaugural social loan will enable further expansion of HUDCO's social housing platform to improve the quality of life for the Indian community and enhance infrastructure facilities in urban areas, the statement said. SMBC acted as the sole mandated lead arranger, book runner and social loan coordinator. "We look forward to expanding our reach to the underserved communities and strengthening the local community's access

Affordable Housing remains a focused segment with high operational intensity and companies with mono-product focus can deliver better outcomes in the long run.

BEML, Exide Industries, HUDCO, Godrej Properties and Prestige Estates could fall up to 19 per cent from present levels, technical charts suggest.

State-owned HUDCO on Friday reported 9.54 per cent rise in consolidated net profit to Rs 700.16 crore for the quarter ended March 2024. Its net profit stood at Rs 639.14 crore in the year-ago period. Total income rose to Rs 2,194.04 crore in March 2024 quarter from Rs 1,862.41 crore a year ago, according to a regulatory filing. Net profit rose to Rs 2,116.69 crore in 2023-24 financial year from Rs 1,701.43 crore in 2022-23. Total income went up to Rs 7,948.10 crore from Rs 7,086.18 crore. The company's board also recommended a final dividend of Rs 2.65 per equity share of face value of Rs 10 each for 2023-24, subject to approval of shareholders in the ensuing Annual General Meeting (AGM). HUDCO is a policy institution that provides housing finance and non-commercial urban infrastructure financing. It is regulated by the National Housing Bank and is under the administrative control of Ministry of Housing and Urban Affairs.

The BSE 500 index zoomed 39 per, while Sensex was up 25 per cent in FY24. IRFC was the top gainer, up 439% followed by Suzlon and HUDCO.

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As many as 1,010 stocks were locked at their respective lower circuit on the BSE in late noon deals on Wednesday amid the broader market sell-off.

Shares of HUDCO rallied 10 per cent to hit a new high of Rs 189.65 in Thursday's intra-day trades on the back of near two-fold jump in average trading volumes.

Since November 1, the stock price of HUDCO has zoomed 74 per cent after Moody's Investors Service affirmed the Baa3 local- and foreign-currency issuer ratings of the company

State-owned HUDCO on Wednesday said it has entered into a pact with the Gujarat government to invest up to Rs 14,500 crore for financing of housing and urban infrastructure projects. The state government intends for overall development of Gujarat by implementing various housing and infrastructure projects, according to a regulatory filing. Housing & Urban Development Corporation Ltd (HUDCO) has "executed a memorandum of understanding with the State Government of Gujarat for an investment up to Rs 14,500 crore for financing the housing and urban infrastructure projects in the state of Gujarat," the filing said. Being a techno-financial institution, HUDCO is in the business of providing financial assistance for housing and urban development projects in the country.

The average trading volumes at the counter jumped four-fold with a combined 181 million equity shares of HUDCO changing hands on the NSE and BSE till 02:48 PM.