Housing & Urban Development Corporation Ltd

Housing & Urban Development Corporation Ltd

HUDCO was incorporated as 'The Housing and Urban Development Finance Corporation Private Limited' on April 25 1970 as a Private Limited Company and granted a certificate of incorporation by the then Registrar of Companies Delhi. Subsequently name of the Company was changed to 'Housing and Urban Development Corporation Limited' and a fresh Certificate of Incorporation dated July 9 1974 was issued by the then Registrar of Companies Delhi & Haryana. Presently the Company is a Public Sector Undertaking engaged in providing loan financing for housing and urban infrastructure projects in India. In 1977 HUDCO launched rural housing schemes for providing loan assistance for construction of rural houses. In 1986 the company established the Human Settlement Management Institute the research and training division of the company. In 1988 the company commenced urban infrastructure financing. In 1996 the company was notified as a public financial institution under Section 4A of the Companies Act 1956 by the Department of Company Affairs Ministry of Finance GoI. In 1999 HUDCO began retail financing under the brand name HUDCO Niwas. In 2012 the company's profit after tax (PAT) crossed Rs 600 crore marks. During the financial year 2011-2012 the company raised Rs 5000 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 4684.7 crore raised through a public issue of tax-free bonds. In 2013 HUDCO's PAT crossed Rs 700 crore mark. During the financial year 2012-2013 the company raised Rs 2401.35 crore through a public issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year. During the financial year 2013-2014 HUDCO raised Rs 4987.12 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 4796.32 crore raised through a public issue of tax-free bonds. During the financial year 2015-2016 the company raised Rs 5000 crore through an issue of tax-free bonds as allocated by the CBDT in its budget allocation for the year including Rs 3500 crore raised through a public issue of tax-free bonds. Government of India (GoI) carried out disinvestments of 20.4 crore shares constituting 10.19% stake in HUDCO via an initial public offer (IPO) in May 2017. Post successful completion of the IPO GoI's stake in HUDCO came down to 89.81% from 100%. HUDCO shares were listed on the bourses on 19 May 2017.On 28 March 2018 the Board of HUDCO approved the annual borrowing programme of maximum upto Rs 40000 crore for the financial year 2018-19 through various sources/modes. The borrowing limit includes the power to make a private placement of non-convertible debentures (NCDs) subject to the approval of the shareholders of the company in general meeting. On 28 May 2018 HUDCO announced that an old default case of a borrower has been substantially resolved after prolonged litigation where HUDCO has received an amount of Rs 317 crore against the dues of Rs 469.38 crore as on 31 March 2018.Housing and Urban Development Corporation Limited (HUDCO) came out with an Initial Public Offering (IPO) of 204058747 equity shares of Face Value of Rs 10 each for cash at a price of Rs 60 per equity share aggregating to Rs1209.78 Crores. There was no fresh issue of shares by the company. The IPO was priced at Rs 60 per share.As at 31st March 2019 89.81% of the shareholding is held by President of India through the Ministry of Housing and Urban Affairs (MoHUA) - 69.08% and Ministry of Rural Development (MoRD) - 20.73% respectively and balance 10.19% is held by Public.During the year 2019 HUDCO completed the consultancy services for construction of Office building for Archaeological Survey of India at Tilak Marg New Delhi. As on 31st March 2019 HUDCO has three Joint Venture Companies namely a) Shristi Urban Infrastructure Development Ltd. (SUIDL) b) Pragati Social Infrastructure & Development Ltd. (PSIDL) and c) Signa Infrastructure India Ltd. (SIIL) Further there is one associate namely Ind Bank Housing Limited. In the case of an associate Company namely Ind Bank Housing Limited the company made an investment of Rs 2.50 crore in its equity being 25% of the paid-up equity share capital. The Company provided for full diminution in the value of investment made in IBHL. During the year 2019 HUDCO sanctioned 55 proposals for financial assistance of Rs 7196 crore (inclusive of proposals for loan assistance of Rs 893 crore in North Eastern States) under different sectors like water supply drainage power sector social infrastructure commercial infrastructure road & transport etc. against which an amount of Rs 3594 crore has been released.During the first quarter of financial year 2019-20 ended 30th June 2019 The Company sanctioned a total loan of Rs 4211.08 crore and disbursed an amount of Rs 3838.88 crore.In Mar'20 HUDCO sanctioned a total of 17284 housing and urban infrastructure projects with a total loan component of Rs. 208039 crore and has made a cumulative disbursement of Rs. 171216 crore. During the year 2019-20 it sanctioned projects with a loan amount of Rs. 3790 crore in housing; and sanctioned urban infrastructure projects with a total loan amount of Rs. 16124 crore respectively.In Mar'21 HUDCO sanctioned a total of 17301 Housing and Urban Infrastructure (UI) projects with a total loan of Rs. 213082 crore and disbursed an amount of Rs. 179527 crore. Further it has sanctioned financial assistance to more than 192.45 lakh housing units both in rural and urban areas in the Country of which 183.19 lakh (95.19%) pertains to EWS/LIG categories. In addition under HUDCO Niwas a retail lending window it sanctioned financial assistance of Rs. 6846 crore to 3.86 lakh individuals and disbursed an amount of Rs. 5160 crore. Under Housing Sector it sanctioned projects with loan assistance of Rs. 937 crore inclusive of Rs. 21 crore under HUDCO Niwas thereby facilitating construction of 12488 dwelling units of which Rs. 3701 crore was released during current year. Under Urban Infrastructure portfolio it sanctioned 32 urban infrastructure projects with loan assistance of Rs. 8265 crore across various sectors like Water Supply Metro Power Social Infrastructure Commercial Infrastructure Road & Transport etc. of which Rs. 4622 was released during the current year. During the year 2021-22 8% of equity shareholding in HUDCO comprising of 160163774 equity shares of face value of Rs. 10/- each through Ministry of Housing and Urban Affairs (MoHUA) Government of India was divested by the President of India being the promoter in the month of July/August 2021. HUDCO has sanctioned projects with a loan assistance of Rs. 1759 crore inclusive of Rs. 13 crore under HUDCO Niwas thereby facilitating construction of 88523 dwelling units. It sanctioned 32 projects with a loan assistance of Rs. 18904 crore covering various sectors like Water Supply Sewerage System Social Infrastructure Commercial Infrastructure Road & Transport Metro Power etc. Further a release of Rs. 7607 crore was made during the year in various schemes. In FY 2021-22 HUDCO supported the flagship programs by extending financial assistance of ` 600 crore to Rajasthan Urban Drinking Water Sewerage & Infrastructure Corporation (RUDSICO). It also sanctioned financial assistance to mega projects of Public Health Department Government of Maharashtra Bihar State Road Development Corporation Limited and Maharashtra State Road Development Corporation Limited Bihar Rajya Pul Nirman Nigam Limited Tamil Nadu Water Supply and Drainage Board Kerala Infrastructure Investment Fund Board (KIIFB) etc.During 2021-22 HUDCO's Construction and Consultancy Wing worked on design concepts remaining responsive to clients' diverse requirements. Some new assignments while continuing work on other ongoing prestigious assignments include providing consultancy services for the construction of Housing Complex for Tripura Tribal Areas Autonomous District Council at Tripura. HUDCO completed the preparation of the Housing for All plan of action under PMAY (U) of 61 towns for the State of Karnataka and the Design Consultancy services for Construction of Officers' Quarters with Allied Services (Phase-III) for M/s Hindustan Aeronautics Limited Bangalore designed for GRIHA rating is on the verge of completion. As part of environmental engineering consultancy it undertook appraisal of 8 Integrated Management Plans under National Plan of Conservation of Aquatic Eco-systems (NPCA) namely 2 each in Mizoram Chandotal Wetland in Basti- U.P East Kolkata Wetlands- WB and Jagatpur Gam Talav Wetland-Bihar.Under Housing sector during 2022-23 HUDCO sanctioned 5 projects with a loan assistance of Rs 3466 Crore thereby facilitating construction of 349308 dwelling units. Loan release for an amount of Rs 1838 Crore was made during 2022-23. Similarly under the Urban Infrastructure portfolio the Company sanctioned 36 projects with a loan assistance of Rs 21106 crore covering various sectors like Water Supply Smart City Transport Nagar Social Infrastructure Commercial Infrastructure Road & Transport Power etc. Further a release of Rs 6628 Crore was made during the year in various schemes.In the Financial Year 2022-23 HUDCO provided financial assistance of Rs 2385 crore for construction of 63246 DUs under Affordable Housing Project (AHP) and 256880 DUs under Beneficiary-Led-Construction (BLC) vertical totalling 320126 DUs covering 28 districts and 169 ULBs. Besides it had sanctioned a scheme for loan amount of Rs 1000 crore to Telangana Housing Board (THB) to construct 28979 DUs (22772 DUs in Rural areas and 6207 Units in Urban Areas of Telangana.In FY 2022-23 HUDCO provided financial assistance of Rs 170 crore for Implementation of Smart City Project at Kohima and Rs 50 crore for Infrastructure Development work in Udaipur Smart City Rajasthan. The other major project sanctioned in the financial year was water conservation schemes at various Districts of Maharashtra (Loan Rs 3500 crore) and Construction of various infrastructure development works in ULBs in Rajasthan (Loan Rs 2235 crore). HUDCO provided loan assistance for JP Ganga Path Phase-2 in Bihar (Loan Rs 541 crore) Infrastructure facilities for EWS Housing units under PMAY-HFA (Urban) Phase-II in the State of Andhra Pradesh (Loan Rs 750 crore) Construction of 4 lane elevated corridor Patna Bihar (Loan Rs 275 crore) etc. HUDCO had sanctioned Rs 2000 Crore to Kerala Infrastructure Investment Fund Board (KIIFB) for improving the medical infrastructure in the State and out of which an amount of Rs 1000 Crore released.