Mumbai: The Housing and Urban Development Corporation Ltd. (HUDCO), a Navratna NBFC-IFC, has signed six Memoranda of Understanding (MoUs) with leading port authorities across India during the ongoing Maritime Week 2025 in Mumbai. The agreements aim to finance projects worth ₹1.1 lakh crore in India’s port infrastructure sector over the next decade, marking a major milestone in HUDCO’s diversification into maritime and coastal infrastructure financing.
Expanding HUDCO’s Maritime Footprint
Speaking on the occasion, Mr. Sanjay Kulshrestha, CMD of HUDCO, stated, “HUDCO’s entry into port financing marks a new chapter in our growth journey. Through these strategic collaborations, we aim to channel ₹1.1 lakh crore into India’s maritime infrastructure to support the Sagarmala Programme and Maritime Amrit Kaal Vision 2047, both aimed at transforming India into a global maritime hub.”
HUDCO’s initiative aligns with the government’s vision to harness India’s coastline and waterways for port-led development. The move is particularly significant as the country’s port sector is undergoing a major transformation, with modernization, capacity expansion, and operational efficiency improvements—average vessel turnaround times have been reduced by nearly half.
Key MoUs and Strategic Partnerships
Sagarmala Finance Corporation Ltd. (SFCL): HUDCO will jointly extend up to ₹80,000 crore over the next decade to public and private projects under the Sagarmala Programme, enhancing port-led development and reducing logistics costs.
Jawaharlal Nehru Port Authority (JNPA): An MoU for ₹5,000 crore to refinance existing terminals, finance re-awarded PPP projects, and support upcoming expansions.
Vadhvan Port Project Ltd. (VPPL): Financing of up to ₹25,000 crore for India’s 13th major port, envisioned as a greenfield gateway for global trade.
Mumbai Port Authority (MbPA): The MoU will support the planning, financing, and execution of a Maritime Iconic Structure in Mumbai, a landmark business and tourism hub celebrating India’s maritime heritage.
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Visakhapatnam Port Authority (VPA): An MoU worth ₹487 crore for berth mechanization, modernization under PPP mode, and liquid cargo operations.
Paradip Port Authority (PPA): ₹5,100 crore allocated for berth mechanization, new dock complexes, and container terminals, expanding PPA’s capacity to 400 MMT by 2030.
Syama Prasad Mookerjee Port, Kolkata (SMP-Kolkata): ₹3,000 crore will fund berth reconstruction, container terminal upgrades, and liquid cargo jetties under PPP models.
Aligning with National Maritime Vision
The initiative comes at a crucial time when India’s Maritime Vision 2030 anticipates investments of ₹3–3.5 lakh crore across ports, shipping, and inland waterways. Government schemes like the ₹25,000 crore Maritime Development Fund (MDF), ₹24,736 crore Shipbuilding Financial Assistance Scheme (SBFAS), and ₹19,989 crore Shipbuilding Development Scheme (SbDS) further aim to strengthen port-led growth, enhance shipbuilding capacity, and promote sustainable maritime infrastructure.
HUDCO’s Financial Performance and Growth Trajectory
HUDCO’s financial performance has been robust, with FY2024–25 marking its highest-ever net profit of ₹2,709 crore, a 28% year-on-year increase. Revenue from operations grew by 32.46%, while the loan book expanded 34.72% to ₹1,24,828 crore, supported by prudent financial management and strategic diversification into new infrastructure sectors.
A Catalyst for Maritime Infrastructure Transformation
With these strategic MoUs, HUDCO cements its role as a key enabler of India’s maritime transformation, supporting growth, connectivity, and global competitiveness along the nation’s coastline.
