HUDCO’s net profit rises to Rs.776 Crore in FY 2015

To see the stable outlook on the forthcoming domestic bonds issue, HUDCO has been rated as “AAA” by the India Rating and Research Private Ltd (Ind-Ra). It has upgraded HUDCO’s Long – Term Credit Rating to “IND AAA” and affirmed Short-Term Credit Rating at “IND A1+”.

hudco logo 150x150 HUDCOs net profit rises to Rs.776 Crore in FY 2015The upgrade reflects Ind-Ra’s expectation of change in HUDCO’s role to a public policy institution from a public finance institution earlier. Ind-Ra expects GoI would continue to provide timely support to HUDCO as reflected by the recent GoI notification which has authorized HUDCO to issue tax-free bonds to the tune of INR50 billion in this fiscal. GoI has very well acknowledged the fact that HUDCO is a primary policy institution with a social mandate to meet the housing needs of the economically weaker section (EWS)/ low-income group (LIG) category. Hence, it has designated HUDCO as one of the central nodal agencies to channelize and monitor the progress of the credit-linked subsidy under the Housing for All (HFA) by 2022 / “Pradhan Mantri AwasYojana (PMAY)” ...Read more


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