Housing & Urban Development Corporation (HUDCO) advanced 2.68% to Rs 201.05 after the firm executed a memorandum of understanding (MoU) with the Maharashtra State Electricity Distribution Company (MSEDC).
The company has signed MoU for providing of credit of up to Rs 5,000 crore for the largest feeder level solarization scheme in India under PM-KUSUM Scheme.Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.
The companys consolidated net profit surged 104.2% to Rs 519.23 crore on 17.6% increase in total income to Rs 2,022.98 crore in Q3 FY24 over Q3 FY23.
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