Hudco disbursements grow 87% in FY19
NEW DELHI: Hudco CMD Dr M Ravi Kanth shared the highlights of Hudco's excellent performance during the year 2018-19. Since inception, Hudco has financed over 17,100 housing and infrastructure projects with a cumulative sanction of Rs 2,01,931 crore and disbursements of Rs 1,66,175 crore.
Hudco has supported more than 19.34 million houses
in the country, both in
rural andurban areas,
thus making it the largest facilitator of housing delivery in the country.
During the year 2018-19, a total of 20.6 lakh dwelling units were sanctioned, including EWS and LIG category. Against the annual disbursement target of Rs 16,565 crore, Hudco has disbursed Rs. 31,010 crore. This is a growth of 87 per cent over the previous year's disbursements of 16,565 crore.
Hudco became a listed company in 2017 and has maintained its"AAA" ratingfor the third consecutive year.As of December 2018, Hudco's gross NPA stood at 5.82% and net NPA at 0.80%, which is among the lowest in the sector.
Hudco is expected to get "Excellent" rating for the eighth year in a row, for the tripartite MoU signed by Hudco with MoHUPAand DPE for the year 2018-19.
Hudco has also been consistently working to accelerate the pace of providing quality urban infrastructure in the country over the decades by financing over 2200 infrastructure projects, covering utility, social and commercial infrastructure.
projects sanctioned include
a line of credit of Rs. 2175.30 crore to Odisha Urban
infrastructure Fund Board for storm water/drainage works in five cities of Odisha and a financial assistance of Rs. 200 crore to Agartala Smart City Ltd. for construction/ upgradation of smart city components.