https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

HUDCO Reports 33.33% Increase in Net Profit

This came to light after HUDCO reviewed financial results for the third quarter ending December 2023-24
Indian Masterminds Stories

In a board meeting held in Mumbai, Housing and Urban Development Corporation (HUDCO) Board of Directors approved the limited reviewed Financial Results for the third quarter ending December 2023-24.

The revenue from operations recorded a growth of 10.4% Year over Year (YoY) and 7.93% increase Quarter to Quarter (QoQ). The company also reported a remarkable 33.33% increase in the Profit After Tax (PAT). 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-Performing Assets (NPAs) from 0.96% to 0.44% YoY.

Key financial highlights for QE December 2023, Fiscal year 2023-24 compared to QE December 2022. Fiscal year 2022-23 includes:

Revenue from Operation growth of 10.04% year over year for 9M from Rs. 5,197.08 crore to Rs. 5,719.07 crore.

Profit after tax: Growth of 33.33% on year by year for 9M from Rs. 1,062.43 crore to Rs.1,416.58 crore.

Loan Book: Growth from Rs. 79,290 crores from Rs. 84,424 crore year over year.

Gross NPAs: Significant reduction from 4.27% to 3.14% year over year.

Net NPAs: Significant reduction from 0.96% to 0.44% year over year.

Earnings Per Share: Growth year over year from Rs. 5.31 to Rs. 7.08

Mr. Sanjay Kulshrestha, Chairman and Managing Director of HUDCO, while expressing his satisfaction at the exceptional financial results. He said that 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 reposting confidence in HUDCO which has helped in increasing the market cap from Rs. 10,000 crores in March,2023 to over Rs. 40,000 crores in December 2023 within a short span of 9 months.

He also 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 and 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
Kerala_govt_resized
11 IAS Officers Transferred in Kerala, Keshvendra Kumar Appointed Secretary, Finance
GRID
Amit Kumar Jain Appointed Director (Finance) at Grid-India
IRS Officer Indian revenue Services
IRS Charanpreet Singh Bakshi Gets Extension as Joint Secretary in Ministry of Minority Affairs
ITS Indian Trade Service
2 Senior ITS Officers Appointed as OSDs at DoT Headquarters, Deb Kumar Chakrabarti Made OSD to Member, Services
IDAS Officer Indian Defence Accounts Service
4 Senior IDAS Officers in HAG Rank Get New Postings, Alka N Arora Posted As Principal Integrated Financial Advisor (Air Force)
HPCL_logo_HIndustan Petroleum
HPCL Q4 Profit Rises 18% to Rs. 3,355 Crore; Announces Rs. 10.50 Dividend Despite LPG Loss Buffer
IPS logo resized
Delhi Court Orders FIR Against 2023-Batch Trainee IPS Officer for Alleged Assault - Know the Case
G
Senior IFS Officer G. Chandrasekhar Reddy Appointed as Telangana's Chief Information Commissioner - Know More About Him
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Sandeep Tamgadge
IPS Sandeep Tamgadge’s Two Decades of Service in Nagaland
IMG-20250429-WA0019
How Mission IAS is Transforming Dreams of Underprivileged UPSC Aspirants
Aakash Garg
Computer Engineer Aakash Garg Takes AIR-5 in UPSC CSE 2024 Through Sheer Discipline And Hard Work | Exclusive
ADVERTISEMENT
UPSC Stories
iqbal-ahmad-upsc-2024
From Cycle Repair Shop to UPSC Rank 998: UP's Iqabal Ahmad’s Inspiring Journey Against All Odds
Iqbal Ahmad, son of a handyman from Sant Kabir Nagar, secured 998th rank in UPSC 2024, fulfilling his...
IPS Sandeep Tamgadge
IPS Sandeep Tamgadge’s Two Decades of Service in Nagaland
For over 20 years, IPS officer Sandeep Tamgadge has served Nagaland, navigating its unique cultural landscape...
Shubham Kaurav UPSC
Four Attempts, One Dream: How Shubham Kaurav Cracked UPSC CSE with AIR 291
With determination, self-study, and a strategic mindset, Gwalior’s Shubham Kaurav turned years of hard...
Social Media
Shakti Dubey AIR 1
UPSC Rank 1 Shakti Dubey's Success Sparks Debate on Civil Services Examination System, Ex-IPS Officer Raises Questions
Shakti Dubey’s UPSC Rank 1 success has sparked debate after ex-IPS officer Yashovardhan Azad questioned...
IAS Pulkit Garg
Central Jail Road Transforms into a Vibrant People-Centric Street in Varanasi
This road has been given a soul, the soul of a musical path, adorned with pink enamel folk art and every...
Rajan Singh Ex-IPS
Ex-IPS Officer Rajan Singh Shares Powerful Insight on Influence through Action
Mr. Rajan Singh is an ex-IPS officer of the 1997-batch (Kerala cadre) and founder of HabitStrong Org...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Kerala_govt_resized
11 IAS Officers Transferred in Kerala, Keshvendra Kumar Appointed Secretary, Finance
GRID
Amit Kumar Jain Appointed Director (Finance) at Grid-India
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IPS Sandeep Tamgadge
IMG-20250429-WA0019
Aakash Garg
ADVERTISEMENT
ADVERTISEMENT