Millennium Post

Turning Housing to a heavenly experience

Housing & Urban Development Corporation Ltd (Hudco), the country’s premier techno-financing Central public sector undertaking (CPSE) under the Ministry of Housing and Urban Poverty Alleviation (MHUPA,) has completed yet another successful year in the service of the nation. For the financial year 2013-14, Housing & Urban Development Corporation has posted impressive profit after tax (PAT) of Rs 719.69 crore (provisional) against Rs 700.56 crore during fiscal 2012-2013, with a 2.73 per cent increase over last year. The total sanctions for the year too have been 16.6 per cent higher with a figure of Rs 1,7491 crore, which is way above the memorandum of understanding (MoU) target of Rs 15,000 crore.

Out of the total 14.34 lakh dwelling units (DUs) sanctioned during the year, 98.5 per cent are for the Economically Weaker and Low Income Group categories, which is in sync with Housing & Urban Development Corporation’s motto of ‘Profitability with Social Justice’.  In the field of Urban Infrastructure, Housing & Urban Development Corporation has sanctioned a total of 72 schemes, with aggregate financial assistance of Rs 7,848 crore under various sectors like Water Supply, Sewerage, Drainage, Power, Social Infrastructure, Commercial Infrastructure, Roads
and  Transport.
During financial year 2013-14, Housing & Urban Development Corporation successfully mobilised Rs 4987.12 crore through the issue of long-term tax-free bonds. The outlook on Housing & Urban Development Corporation’s credit rating has also been upgraded from ‘Stable’ to ‘Positive’ by India Ratings (Fitch Group).
Under the HUDCO-KFW grant assistance, Housing & Urban Development Corporation sanctioned 10 Model Village/ Basti in the natural calamity hit areas of Uttarakhand state for Rs 7 crore (Rs 70 lakh each) and five Model Village/ Basti in the super cyclone-hit areas of Odisha State for Rs 3.5 crore (Rs 70 lakh each) in 2013-14 as part of its corporate social responsibility (CSR) schemes.

Housing & Urban Development Corporation’s Innovation Cell has developed several new and successful initiatives like `Rent to Own’ and `HudcoNav Nagar Yojana (HuNNY)’ in the past. This year too, new initiatives have been undertaken to work towards the improvement of human settlements.
Venture Capital
Housing & Urban Development Corporation has approved a subscription of Rs 25 crore in Class A units of the India Inclusive Innovation Fund (IIIF) - Venture Capital Fund being established by the National Innovation Council. The Fund will invest in enterprises involved in the housing and urban development sector, including start-ups as well as emerging and growing ventures that need support to scale up potentially successful solutions.

Partnering DMICDC
Housing & Urban Development Corporation has subscribed to 19.90 per cent (Rs 19.9 crore) of the equity capital of Delhi Mumbai Industrial Corridor Development Corporation Ltd (DMICDC). Through this endeavour, Housing & Urban Development Corporation hopes to assist the state governments along the Delhi-Mumbai Infrastructure Corridor by financing land acquisitions, new township development and related infrastructure projects.

Micro-Finance for Housing
To ensure financial inclusion of poor and self-employed women in slums and informal settlements who have so far been denied the benefit of home loans through the formal lending mechanism, Housing & Urban Development Corporation has decided to join hands with SEWA through an equity investment of Rs 1.8 crore in the proposed new Housing Finance Company.

Amritsar-Kolkata ICDC
Housing & Urban Development Corporation has approved in principle equity participation in the Amritsar-Kolkata Industrial Corridor Development Corporation (AKICDC) to the tune of Rs 16 crore, with a provision of further equity contribution of Rs 10 crore in case two of the seven states on the corridor are not able to participate in the equity.

Hudco as Rajiv RinYojana CNA
Housing & Urban Development Corporation has been made one of the two Central Nodal Agencies (CNAs) by the Ministry of Housing and Urban Poverty Alleviation for the Rajiv RinYojana (RRY), which was launched on 1 October, 2013, with a provision of extending interest susbsidy of 5 per cent to the economically weaker sections (EWS) and low income group (LIG) categories for loans of up to Rs 5 lakh.  
Research & Training through HSMI
The first meeting of the CITYNET National Chapter was organized by HSMI in Delhi this year in addition to 51 training programmes for 1,848 participants during 2013-14. HSMI, the research & training division of Housing & Urban Development Corporation, continues its efforts to provide capacity building to professionals engaged in the housing and urban development sector in India and abroad.

Hudco Design Awards
Launched in 2012, the Hudco Design Awards’ ive recognition and; encourage innovative ideas of architects, town planners and engineers that make cities inclusive, beautiful and environmentally sustainable. The theme and dates of the third Housing & Urban Development Corporation Design Awards for the year 2014 will be announced soon.

Housing & Urban Development Corporation is determined to support inclusive and sustainable habitats and work towards better living conditions for all, especially for the marginalised sections of society. For this purpose, Housing & Urban Development Corporation has  set the following ambitious targets for itself under its Mission Five Ones:-

• 1 million houses per annum
• 1 lakh crore Cumulative Releases (to be achieved in two years from 2012-13)
• 1 thousand crore-rupee profit after tax (to be achieved in two years from 2012-13)
• 1 hundred Urban Local Bodies to be assisted per annum
• 1 per cent reduction in gross non-performing assets (NPAs) per annum

Hudco CSR initiatives
Hudco has always emphasised on the importance of corporate social responsibility (CSR) activities and in line with the thrust areas identified in its CSR and Sustainability Policy, Hudco has sanctioned CSR assistance of Rs 15.33 crore for 39 proposals and disbursed an amount of Rs12.49 crore for implementation of socially beneficial proposals such as construction of night shelters, community toilets and employment-oriented skill training programmes all over the country.
Hudco is a living mission to achieve the great Indian dream.
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