Mumbai: Housing and Urban Development Corp (HUDCO) is targeting to have zero bad loans in the next 18 months as there have been no new slippages in FY25 and it is actively resolving the cases of legacy stressed assets through the bankruptcy courts and one-time settlements.
The state run housing and infrastructure financing company has consistently brought down its Gross non-performing assets over the last two years which were at 1.67 per cent for FY25.
The lender posted a 4 per cent increase in its March quarter consolidated net profit to Rs 727.74 crore. Its total income rose to Rs 2,854.91 crore in January-March 2024-25 from Rs 2,194.04 crore in the year-ago period. For the fiscal year 2024-25, HUDCO’s net profit increased to Rs 2,709.14 crore from Rs 2,116.69 crore in the preceding year.
Its loan disbursements rose 123 per cent to Rs 40038 crore in 2024-2025 from Rs 17987 crore in FY24. “This year we are targeting to disburse Rs 50,000 crore,” said Sanjay Kulshrestha, chairman and managing director of HUDCO at a press conference on Wednesday. He said that the lender is targeting a 25 per cent growth in the book in the new fiscal, and increasing its borrowing plan to Rs 65,000 crore. The company has achieved a 35 per cent loan growth in FY25, and ended the fiscal with a borrowing of Rs 55,000 crore. The lender plans to raise $2 billion through overseas borrowing in the current financial year, through a mix of bonds and loans. (HUDCO) is targeting to have zero bad loans in the next 18 months as there have been no new slippages in FY25 and it is actively resolving the cases of legacy stressed assets through the bankruptcy courts and one-time settlements.
The state run housing and infrastructure financing company has consistently brought down its Gross non-performing assets over the last two years which were at 1.67 per cent for FY25.
The lender posted a 4 per cent increase in its March quarter consolidated net profit to Rs 727.74 crore. Its total income rose to Rs 2,854.91 crore in January-March 2024-25 from Rs 2,194.04 crore in the year-ago period. For the fiscal year 2024-25, HUDCO’s net profit increased to Rs 2,709.14 crore from Rs 2,116.69 crore in the preceding year.
Its loan disbursements rose 123 per cent to Rs 40038 crore in 2024-2025 from Rs 17987 crore in FY24. “This year we are targeting to disburse Rs 50,000 crore,” said Sanjay Kulshrestha, chairman and managing director of HUDCO at a press conference on Wednesday. He said that the lender is targeting a 25 per cent growth in the book in the new fiscal, and increasing its borrowing plan to Rs 65,000 crore. The company has achieved a 35 per cent loan growth in FY25, and ended the fiscal with a borrowing of Rs 55,000 crore. The lender plans to raise $2 billion through overseas borrowing in the current financial year, through a mix of bonds and loans.