https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

HUDCO Posts YoY Growth of 10.4% in Revenue from Operations & 33.33% in Net Profit

The outstanding performance is attributed to consistent growth in the Loan Bank from Rs. 79,290 crores to Rs. 84,424 crores year over year (YoY)
Indian Masterminds Stories

The Housing and Urban Development Corporation Limited (HUDCO) Board of Directors approved the limited reviewed financial results for the third quarter ending December 2023 (fiscal year 2023-24) at a meeting in Mumbai.  

The company reported a remarkable 33.33% increase in the Profit After Tax (PAT) Year over Year (YoY) and 14.94 % increase Quarter on Quarter (QoQ). The revenue from operations recorded a growth of 10.04 % YoY and a 7.93 % increase QoQ.  This outstanding performance is attributed to consistent growth in the Loan Book from Rs.79,290 crore to Rs.84,424 crore YoY and a significant reduction in Net Non-Performing Assets (NPAs) from 0.96 % to 0.44 % YoY. 

Key financial highlights for QE December 2023, FY 2023-24 compared to QE December 2022, FY 2022-23 are as follows: 

  • Revenue from Operation: growth of 10.04 % on YoY for 9M from Rs.5,197.08 crore to Rs. 5,719.07 crore 
  • Profit after tax: growth of 33.33 % on YoY for 9M from Rs.5,197.08 crore to Rs. 5,719.07 crore 
  • Loan Book: growth from Rs.79,290 crore to Rs. 84,424 crore YoY 
  • Gross NPAs: Significant reduction from 4.27 % to 3.14 % YoY 
  • Net NPAs: Significant reduction from 0.96 % to 0.44 % YoY 
  • Earnings Per Share: growth YoY from Rs.5.31 to Rs.7.08 

Mr. Sanjay Kulshrestha, Chairman & Managing Director of HUDCO, while expressing his satisfaction at the exceptional financial results said, “HUDCO being a government company under MoHUA with lowest levels of NNPA and Debt-Equity and comfortable CAR is envisaged to play a vital role in creating assets for the nation by funding infrastructure projects. He thanked investors for reposing confidence in HUDCO which has helped in increasing the market cap from Rs.10,000 crore in March 2023 to over Rs.40,000 crore in Dec. 2023, within a short span of 9 months. In order to optimize the cost of borrowings, funds through the External Commercial Borrowings (ECB) route are being mobilized/ explored. The current Fiscal Budget has laid thrust on Housing and Infrastructure in a big way and HUDCO is geared to capitalize on these opportunities. 

CMD, HUDCO attributed the company’s growth to the trust and support of the stakeholders. He conveyed gratitude to Mr. Hardeep Singh Puri, Hon’ble Union Minister of Housing and Urban Affairs; Mr. Kaushal Kishore, Hon’ble Minister of State, Housing & Urban Affairs; Mr. Manoj Joshi, Secretary, MoHUA and Board of Directors for their unstinted support and guidance. 


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Image Yoga Day NBCC
Yoga Mahakumbh & Meditation Workshop: NBCC Commemorates 11th International Day of Yoga with Holistic Wellness Initiatives
IAS Prasanth N
Controversy Deepens Over IAS Officer Prasanth’s Suspension Extension Despite Panel Clearance
Indian Bureaucracy News Latest
ACC Extends Central Deputation Tenures of Ajai Kumar Verma and Kushagra Mittal
Screenshot 2025-06-21 202516
CM Yogi Leads International Yoga Day Celebrations in Gorakhpur
Indian PSUs Yoga Day 2025
Indian PSUs Lead the Way: Massive Participation Marks 11th International Yoga Day Across Public Sector
Jammu&Kashmir
Jammu & Kashmir: 27 Officers Promoted to Time Scale of JKAS; Safiya Abdullah Among Them - Check Order Here
Uttar Pradesh UP Government
Uttar Pradesh Launches ‘Urban Green Policy’ to Combat Climate Change and Promote Sustainable Development
WhatsApp Image 2025-06-21 at 8.03
Yoga for One Earth, One Health: NLC India Celebrates 11th International Yoga Day with 10,000 Participants in Neyveli
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Interview Plane Crash
What ill-fated pilots of AI171 may have gone through in those 40 seconds before the crash? Intro:
IRAS Ananth Rupanagudi
IRAS Ananth Rupanagudi’s 27-Year Odyssey with Indian Railways | Exclusive Interview
Monika Singh
The Civil Servant Who Finds Peace in Poetry
ADVERTISEMENT
UPSC Stories
WhatsApp Image 2025-06-18 at 10.31
"I Just Wanted to Breathe Again": The Man Who Fought Death and Made It to UPSC
Struck by COVID at the peak of his UPSC prep, Devanand Telgote spent months on ECMO, unsure he'd live,...
Ravinder Nandal IDES
IDES Ravinder Nandal's Story of Self-Made Success
Balancing fatherhood, full-time jobs, and six UPSC attempts, Ravinder Nandal’s story is one of perseverance,...
Shailendra Choudhary UPSC
Daily Routine, Optional, Essays & More | Shailendra Choudhary Breaks It Down
Shailendra Choudhary, AIR 362 in UPSC 2024, shares how focused preparation, self-made strategies, and...
Social Media
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
Tiger jump Sundarban
Stunning Viral Video Shows Royal Bengal Tiger Making Spectacular 30-Foot Leap Across River in Sunderbans - See It Here
Retired Indian Forest Service (IFS) officer Susanta Nanda shared the clip online, which quickly went...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Image Yoga Day NBCC
Yoga Mahakumbh & Meditation Workshop: NBCC Commemorates 11th International Day of Yoga with Holistic Wellness Initiatives
IAS Prasanth N
Controversy Deepens Over IAS Officer Prasanth’s Suspension Extension Despite Panel Clearance
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Inderjit Singh Interview Plane Crash
IRAS Ananth Rupanagudi
Monika Singh
ADVERTISEMENT
ADVERTISEMENT