Housing and Urban Development Corporation (HUDCO) said it has achieved loan sanctions of Rs 2,628.23 crore and loan releases of Rs 3,411.79 crore, as on 30 September 2020, for the financial year 2020-21.
The announcement was made after market hours yesterday, 28 October 2020.
Shares of Housing and Urban Development Corporation (HUDCO) rose 0.79% to Rs 32 on BSE. The scrip jumped 77.28% from its 52-week low of Rs 18.05 hit on 24 March 2020.
HUDCO's consolidated net profit dropped 39.4% to Rs 203.38 crore on 1.9% fall in total income to Rs 1,781.79 crore in Q1 June 2020 over Q1 June 2019.
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 the housing financer as on 30 September 2020.
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