The Housing and Urban Development Corporation Ltd (HUDCO) has reported a 42% rise in its consolidated net profit for the December quarter, reaching ₹735.03 crore. This significant growth, compared to ₹519.23 crore in the same period last year, is attributed to higher income.
Total income for the third quarter surged to ₹2,770.14 crore, up from ₹2,022.94 crore in the corresponding period of the previous fiscal year, as per the company’s regulatory filing on Wednesday.
In a major development, HUDCO has signed a Memorandum of Understanding (MoU) with Vadhvan Port Project Ltd (VPPL) to explore the possibility of funding up to ₹25,000 crore for port development projects. VPPL is a joint venture between Jawaharlal Nehru Port Authority (JNPA), an entity under the Government of India, and the Maharashtra Maritime Board (MMB), a Government of Maharashtra entity.
The MoU outlines HUDCO’s intent to explore funding for the development of new ports and public-private partnership (PPP) projects under VPPL’s portfolio, marking a significant step in supporting India’s infrastructure growth.
