Latest news with #Housing&UrbanDevelopmentCorporation
Business Standard
07-05-2025
- Business
- Business Standard
Housing & Urban Development Corporation consolidated net profit rises 3.94% in the March 2025 quarter
Sales rise 37.76% to Rs 2844.99 crore Net profit of Housing & Urban Development Corporation rose 3.94% to Rs 727.74 crore in the quarter ended March 2025 as against Rs 700.16 crore during the previous quarter ended March 2024. Sales rose 37.76% to Rs 2844.99 crore in the quarter ended March 2025 as against Rs 2065.22 crore during the previous quarter ended March 2024. For the full year,net profit rose 27.99% to Rs 2709.14 crore in the year ended March 2025 as against Rs 2116.69 crore during the previous year ended March 2024. Sales rose 32.46% to Rs 10311.29 crore in the year ended March 2025 as against Rs 7784.29 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 2844.992065.22 38 10311.297784.29 32 OPM % 100.9999.61 - 100.4598.28 - PBDT 1023.77945.60 8 3647.302853.25 28 PBT 1020.26943.12 8 3636.662843.39 28 NP 727.74700.16 4 2709.142116.69 28
Economic Times
07-05-2025
- Business
- Economic Times
HUDCO Q4 Results: PAT rises 4% YoY at Rs 728 crore, revenue jumps 38%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Housing & Urban Development Corporation (HUDCO) on Wednesday reported a 4% year-on-year rise in standalone net profit to Rs 728 crore for Q4FY25, compared to Rs 700 crore in the same quarter last year. Revenue from operations in the March quarter stood at Rs 2,845 crore, up 38% from Rs 2,065 crore in the year-ago a sequential basis, profit after tax (PAT) declined 1% from Rs 735 crore in Q3FY25. Revenue also rose 3% compared to Rs 2,760 crore in the previous board of directors recommended a final dividend of Rs 1.05 per equity share for FY25. This is in addition to the first interim dividend of Rs 2.05 and second interim dividend of Rs 1.05 per equity share already declared and paid during the income for Q4FY25 stood at Rs 2,821 crore, up from Rs 2,746 crore in Q3FY25 and Rs 2,002 crore in the full financial year, PAT rose 28% to Rs 2,709 crore from Rs 2,117 crore in FY24. Total revenue also increased 32% to Rs 10,311 crore, compared to Rs 7,784 crore in the previous loan portfolio (including EBR) stood at Rs 1,24,828 crore in FY25, up from Rs 92,654 crore in FY24. The yield on loans improved to 9.50%, compared to 9.04% in loans for FY25 surged 55.31% to Rs 1,27,952 crore, from Rs 82,387 crore a year ago. Loan disbursements more than doubled, rising 122.59% to Rs 40,038 crore from Rs 17,987 crore in cost of funds for FY25 stood at 7.44%, up from 7.25% in earnings were announced during market hours. The stock fell 3.5% on the NSE and was trading at Rs 210.40 around 2:10 pm.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Business Standard
06-05-2025
- Business
- Business Standard
HUDCO board approves issuance of NCDs amounting to Rs 2,190 crore
Housing & Urban Development Corporation said that its board has approved a proposal to raise funds aggregating up to Rs 2,190 crore via issue of non-convertible debentures. The proposed NCDs would be unsecured, taxable, redeemable and non-cumulative. Each NCD would have a face value of Rs 1 lakh each. The NCDs would bear an annual coupon rate of 6.90% and would be redeemable at par at the end of the fifth year. Housing & Urban Development Corporation (HUDCO) is primarily engaged in the business of financing housing and urban development activities in the country. As on December 2024, the Government of India held 75% in the company. The company's consolidated net profit jumped 41.6% to Rs 735.03 crore while total income increased 36.9% to Rs 2770.14 crore in Q3 FY25 over Q3 FY24. The scrip declined 4.06% to currently trade at Rs 219.65 on the BSE.
Mint
06-05-2025
- Business
- Mint
HUDCO board approves ₹2,190 crore fundraise via NCDs on private placement basis
Stock market today: Public sector undertaking (PSU) Housing & Urban Development Corporation's (HUDCO) board on Tuesday, May 6, approved raising ₹ 2,190 crore via non-convertible debentures (NCDs), according to an exchange filing shared by the company. As part of its fundraising plan, HUDCO's Bond Allotment Committee allowed raising funds via unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs of face value of ₹ 1,00,000 each (Series-B 2025), aggregating up to ₹ 2,190 crore on a private placement basis. The NCD issue includes a base size of ₹ 500 crore and a green shoe option of ₹ 1,680 crore. The bonds carry a coupon rate of 6.90% and are redeemable at par at the end of the fifth year, with interest payment on a yearly basis. The bonds are proposed to be listed on BSE, with the schedule of payment of interest and principal as follows: May 08, 2026; May 08, 2027; May 06, 2028; May 06, 2029; and May 086, 2030. Late last month, on April 23, the HUDCO board had announced raising another ₹ 2,430 crore via NCD issue. The said bond issue was for a period of seven years, carrying the same coupon rate of 6.90%. HUDCO board is slated to meet again on May 7 to consider and approve the financial results for the March 2025 quarter and financial year 2024-25 (FY25), along with dividend payment. 'Housing & Urban Development Corporation has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2025, inter alia, to consider and approve audited financial results (Standalone and Consolidated) for quarter & year ended 31st March, 2025 and recommendation of final dividend to the shareholders for the FY 2024-25, if any, subject to the approval of the shareholders in the ensuing AGM,' HUDCO said in an exchange filing last month. PSU stock HUDCO was trading on a lacklustre note today, declining nearly 4% in intraday trade on Tuesday. HUCO share price opened at ₹ 229.45, a tad bit higher than the previous closing price of ₹ 228.95. However, the BSE 500 stock reversed gains and slipped to the day's low of ₹ 220.10, recording a decline of 3.8%. However, despite today's fall, HUDCO shares have gained 8% in the last one month. On a year-to-date (YTD) basis, HUDCO share price has lost 7.15% but has gained 3% in the last one year. On a longer time frame of two years, HUDCO is a multibagger stock, rallying 300%.
Mint
01-05-2025
- Business
- Mint
HUDCO aims to resolve stressed assets in 18 months, plans larger play in urban infra
New Delhi: State-run Housing & Urban Development Corporation (HUDCO) is looking at resolving its stressed assets in the next 18 months, chairman and managing director (CMD) Sanjay Kulshrestha told Mint in an interview. Kulshrestha also said the government-owned lender aims to expand its urban development footprint and become a comprehensive solution provider in the space. On these lines, it plans to set up a dedicated 'urban development single-window solution' in collaboration with multilateral financial institutions and development finance institutions (DFI), he said. "Our foremost priority is the complete resolution of HUDCO's NPAs (non-performing assets), which current stand at about ₹ 2,000 crore with a provisioning coverage ratio of around 86%. We have set an ambitious internal target to achieve full resolution within 18 months from 1 April, despite ongoing litigation in forums such as the NCLT (National Company Law Tribunal) and DRT (Debt Recovery Tribunal)," Kulshrestha said. He added that the lender has not added any new stressed assets in the past three years. The company, which marked its 55th foundation day on 25 April, plans to increase its footprint in the urban infrastructure ecosystem, including waste management, water supply, sewage and drainage among other things. It plans to set up a project management unit for this, which will also help arrange finances for projects in collaboration with multilateral organisations such as the World Bank and Asian Development Bank. To further empower states and urban local bodies (ULBs), HUDCO will help prepare detailed project reports, secure approvals, reduce financing costs, and offer training and system planning support. "We also intend to promote public-private partnerships (PPPs), streamline the waste management value chain, and develop bankable projects, he said. "Looking ahead, we plan to establish a dedicated urban development single window solution in collaboration with multilateral institutions and DFIs, supported by a project management unit to deliver integrated, end-to-end project support and position HUDCO as a leading urban development catalyst," he added. Speaking about the company's recent measures to reduce finance costs, Kulshrestha said HUDCO had embarked on a comprehensive cost management and fundraising strategy aimed at reducing the cost of capital and strengthening its funding base. He said a key component of this approach has been the expansion of its international fundraising, including through the external commercial borrowings (ECB) route. The company has so far tapped the Japanese market and raised yen-denominated loans. It is evaluating other regions to further diversify its sources of funding. "Currently, about 20% of our total borrowings are denominated in foreign currency, and this share may increase to 25% depending on prevailing market conditions, both domestic and global. As a cost-conscious organisation, we remain committed to optimising our borrowing structure while staying agile in response to market dynamics." The government's recent decision to allow HUDCO to issue 54EC capital gains bonds will also help its raise funds at a lower cost, he said. Under Section 54EC of the Income Tax Act, any long-term capital gains from the sale of immovable assets such as land and house are exempt if the money is invested in certain public sector companies. Power Finance Corporation (PFC) and REC Ltd are the other companies that can issue these bonds. Kulshrestha said, 'With the full financial year ahead of us, we are in the process of designing a strategic and operational framework to maximise the potential of this instrument. These initiatives have already begun to yield results. Our weighted average cost of borrowing has dropped from 7.10% last year to 6.75%. The government has also permitted HUDCO to raise funds via zero-coupon bonds, which, based on market trends, are expected to offer further cost advantages over conventional borrowing tools.' HUDCO borrowed ₹ 51,000 crore in FY25, taking its cumulative outstanding borrowings to around ₹ 1 trillion, against its plan to borrow ₹ 55,000 crore. 'For the ongoing fiscal (FY26), the target has been increased to ₹ 65,000 crore in line with our disbursement and funding needs,' he added. New Delhi: State-run Housing & Urban Development Corporation (HUDCO) is looking at resolving its stressed assets in the next 18 months, said its chairman and managing director (CMD) Sanjay Kulshrestha. In an interview to Mint, the CMD also said that going ahead the government-owned lender aims to expand its urban development footprint and become a comprehensive solution provider in that space. In these lines, it plans to set up a dedicated Urban Development Single Window Solution in collaboration with multilateral financial institutions and development finance institutions (DFI), he said. "Our foremost priority is the complete resolution of HUDCO's NPAs, currently standing at approximately ₹ 2,000 crore with a provisioning coverage ratio of around 86%. We have set an ambitious internal target to achieve full resolution within 18 months from 1 April, despite ongoing litigation in forums like the NCLT (National Company ) and DRT," Kulshrestha said. He also added that the lender has not added new stressed assets in the past three years. The company which observed its 55th foundation day on 25 April plans to increase its footprint in the urban infrastructure ecosystem including waste management, water supply, sewage, drainage among others, and would set up a project management unit for the same which would also help in arranging finances for projects in collaboration with multilateral organization like World Bank and Asian Development Bank. To further empower states and Urban Local Bodies (ULB), HUDCO will assist in preparing DPRs (detailed project report), securing approvals, reducing financing costs, and offering training and system planning support. We also intend to promote public-private partnerships (PPPs), streamline the waste management value chain, and develop bankable projects, he said. "Looking ahead, we plan to establish a dedicated Urban Development Single Window Solution, in collaboration with Multilateral Institutions and DFIs, supported by a project management unit (PMU), to deliver integrated, end-to-end project support and position HUDCO as a leading urban development catalyst," the CMD said. Speaking of the company's recent measures towards reducing finance cost, Kulshrestha said that HUDCO has embarked on a comprehensive cost management and fundraising strategy aimed at reducing the cost of capital and strengthening its funding base. He said that a key component of this approach has been the expansion of our international fund raising, including external commercial borrowings (ECB) route. The company has so far tapped into the Japanese market and raised Yes-denominated loans and is evaluating other geographies to further diversify its sources of funding. "Currently, approximately 20% of our total borrowings are denominated in foreign currency, and this share may increase to 25% depending on prevailing market conditions, both domestic and global. As a cost-conscious organization, we remain committed to optimizing our borrowing structure while staying agile in response to market dynamics." Government's recent move of designating HUDCO as an eligible entity to issue 54EC capital gains bonds would also help its raise funds at lower cost, he said. Under Section 54EC of the Income Tax Act, any long-term capital gains arising from the sale of immovable assets such as land and house are exempt if the money is invested in public sector companies notified under the section. Power Finance Corporation (PFC) and REC Ltd are the other companies allowed to issue these bonds. "With the full financial year ahead of us, we are in the process of designing a strategic and operational framework to maximize the potential of this instrument. These initiatives have already begun to yield results—our weighted average cost of borrowing has reduced from 7.10% last year to 6.75% currently. Additionally, the government has permitted HUDCO to raise funds via zero-coupon bonds, which, based on market trends, are expected to offer further cost advantages over conventional borrowing tools," he said. In FY25, HUDCO borrowed ₹ 51,000 crore, taking its cumulative outstanding borrowings to around ₹ 1 trillion, against the plan of ₹ 55,000 crore borrowing. For the ongoing fiscal (FY26), the target has been increased to ₹ 65,000 crore in line with our its disbursement and funding needs, he said. First Published: 1 May 2025, 03:31 PM IST
