HUDCO achieves record-breaking loan sanctions and releases

HUDCO has achieved loan sanctions of Rs15,581.24cr and loan releases of Rs15,534.37cr as on January 31, 2019..

Feb 13, 2019 09:02 IST India Infoline News Service

HUDCO has achieved record-breaking loan sanctions and loan releases of Rs15,581.24cr and Rs15,534.37cr, respectively, as on January 31, 2019. This is against last year's sanctions of Rs7,942.06 and current year's sanction of Rs7,592.31. The company made the announcement on Monday evening, post market hours. 

Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in India. It is wholly owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation.

Government-backed HUDCO also enjoys the highest credit rating, which helps it to access low-cost funds. We forecast profits to grow at a CAGR of 15% (FY18-20E). HUDCO has more than four decades of experience in providing loans for housing and urban infrastructure in India.

Housing & Urban Development Corporation Ltd share price is currently at Rs38.20, down Rs0.55, or 1.42%, from its previous close of Rs38.75 on the BSE.

The scrip opened at Rs39.30 and has touched a high and low of Rs39.30 and Rs38.10, respectively. So far, 6,36,769 (NSE+BSE) shares were traded on the counter.

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