The Housing and Urban Development Corporation Ltd (HUDCO), a prominent Navratna public sector undertaking under the Government of India, commemorated its 55th Foundation Day on April 25, 2025, at a grand ceremony held at the India Habitat Centre, New Delhi. The event served as a platform to reflect on the company’s remarkable journey in bolstering affordable housing and its evolving role in financing critical infrastructure across the nation.
The chief guest, Mr. Soloman Arokiaraj, Additional Secretary in the Department of Economic Affairs, lauded HUDCO’s unwavering commitment to national development over the past five and a half decades. The special address was delivered by HUDCO’s Chairman and Managing Director (CMD), Mr. Sanjay Kulshreshtha, who outlined the company’s significant achievements and its ambitious vision for the next five years.
THE CEREMONY
The Foundation Day ceremony commenced with a warm and environmentally conscious welcome, as guests were greeted with potted saplings, underscoring HUDCO’s commitment to sustainability. A somber note was struck at the beginning of the proceedings as a two-minute silence was observed to honour the innocent lives lost in the recent tragic incident at Pahalgam, reflecting the company’s sensitivity to national events. Mr. M Nagaraj, Director (Corporate Planning) at HUDCO, formally welcomed the distinguished guests.
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In his address, Mr. Nagaraj conveyed the collective sentiment of HUDCO employees, assuring the Ministry and all stakeholders of the company’s unwavering dedication and commitment. He emphasized HUDCO’s readiness to “take a quantum leap in its operations,” not only by meeting the technical financing requirements of the housing sector but also by actively supporting core infrastructure services across the country.
CHIEF GUEST’S ADDRESS
Delivering the keynote address, Mr. Arokiaraj underlined HUDCO’s role in the infrastructure building of the country. India’s vision for 2040 required a major infrastructure push and HUDCO will play a pivotal role in it, he said. This urbanization drive, he noted, opens up significant avenues for investment in crucial urban infrastructure such as water and sanitation services, housing, and public transportation systems, including urban roads and metro networks.
Presently about 55 per cent of country’s population was living in urban areas and which were contributing to over 80 per cent of India’s GDP, said Mr Arokiaraj adding agencies should not depend solely on public fundings. “There is a need to catalyse more private investments in to infrastructure funding and HUDCO is will positioned to do this job”, he said.
Mr. Arokiaraj emphasized the alignment of HUDCO’s vision with the Government of India’s initiatives, including flagship schemes like the Pradhan Mantri Awas Yojana, AMRUT, the Smart City Mission, and the Swachh Bharat Mission, all aimed at facilitating this transformative urban growth. While acknowledging the significant role of government budgets and grants in funding infrastructure projects, he underscored the growing need to catalyze private investment in these vital sectors.
He asserted that entities like HUDCO, with their deep understanding of the ecosystem, are uniquely positioned to bridge this gap. HUDCO not only possesses the financial capacity to invest but also the expertise to handhold stakeholders in preparing bankable projects that can attract private capital. He reiterated the massive scale of investment required to realize the vision of a “Viksit Bharat” by 2047, highlighting the significant increase in government spending in the urban sector since 2014 and the consistently rising CAPEX budget.
CMD’s ADDRESS
The Chairman and Managing Director (CMD) of HUDCO Mr Sanjay Kulshreshtha, painted a comprehensive picture of India’s evolving economic landscape and the pivotal role HUDCO is poised to play.
Mr. Kulshreshtha proudly recounted HUDCO’s achievements in the past year, including the prestigious Navratna status and the Reserve Bank of India’s recognition as an NBFC-IFC (Non-Banking Financial Company – Infrastructure Finance Company). This recognition, he stated, will provide a significant advantage in raising resources at optimal pricing. He also acknowledged the Ministry’s support in facilitating zero-coupon bonds, further diversifying HUDCO’s funding avenues.
He acknowledged the immense responsibility that comes with these recognitions, emphasizing HUDCO’s commitment to aligning its operations with the government’s vision of a developed India. He also addressed the upcoming retirements within the organization, assuring that the contributions of retired employees would always be valued.
Mr. Kulshreshtha also highlighted HUDCO’s embrace of technological advancements, including the implementation of IT initiatives like e-offices and ERP systems to enhance transparency and efficiency, with the long-term goal of becoming a paperless organization.
Addressing the challenges, he acknowledged the increasing competition in the financial sector and the critical importance of maintaining asset quality. He expressed satisfaction with HUDCO’s progress in reducing Non-Performing Assets (NPAs), stating the company’s ambition to become a zero-NPA organization while ensuring prudent lending practices to prevent the creation of new NPAs.
AWARDS PRESENTATION
The ceremony also included the presentation of awards to outstanding performers, both among HUDCO’s lending partners and its own staff. Borrowing agencies were honoured by HUDCO for their significant contributions to transforming transport and power infrastructure, as well as for embracing digital transformation and efficiency.
Following the awards ceremony, Mr. Daljeet Singh Khatri, Director (Finance) at HUDCO, delivered the vote of thanks, expressing gratitude to the award recipients, HUDCO employees across all offices, and especially the administration division for their dedicated efforts in making the event a resounding success.
THE PAST & THE FUTURE
Founded on April 25, 1970, initially as the Housing and Urban Development Finance Corporation Pvt Ltd, with a modest equity base of ₹2 crore, HUDCO was envisioned to address the pressing need for affordable housing in a burgeoning India. Four years later, the company adopted its present name and embarked on a journey of diversification.
Today, HUDCO has emerged as a pivotal financial institution, extending its support to a wide array of infrastructure agencies, with project financing exceeding a staggering ₹1.75 lakh crore. The conferment of the Navratna status last year stands as a testament to its consistent performance and significant contribution to the nation’s growth.
