Housing and Urban Development Corporation, also known as HUDCO, reported its Q3 numbers after market hours yesterday, 3 February 2020.
On a consolidated basis, Housing and Urban Development Corporation (HUDCO) net profit tanked 37.24% to Rs 205.89 crore in Q3 December 2019 as against Rs 328.10 crore reported in Q3 December 2018. Consolidated total income soared 36.58% to Rs 1,802.39 crore in Q3 December 2019 over Q3 December 2018.
During the quarter, the company has made impairment provision [as per expected cedit loss (ECL) approach] amounting to Rs 2,834.08 crore as on 31 December, 2019. There are three fresh NPA cases during the quarter ended 31 December 2019; however two of the agencies are out of NPA as on date.
Gross non-performing assets (NPAs) stood at Rs 3,698.46 crore as on 31 December 2019 as against Rs 3,286.59 crore as on 31 March 2019.
The ratio of gross NPAs to gross advances stood at 4.98% as on 31 December 2019 as against 4.48% as on 31 March 2019.
The ratio of net NPAs to net advances stood at 1.23% as on 31 December 2019 as against 0.50% as on 31 March 2019.
As of 31 December 2019, the company's net worth stood at Rs 10,955.77 crore.
HUDCO rose 1.67% to end at Rs 39.65. On Monday, 3 February 2020, it hit an intraday high of Rs 40.30 and an intraday low of Rs 38.15.
HUDCO provides long term finance for construction of houses for residential purposes or finance or undertakes housing and urban development programs in the country.
The Government of India holds 89.81% stake in HUDCO (as on 31 December 2019).
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