HUDCO, MPUDCL Seal ₹1 Lakh Crore MoU to Boost MP’s Housing and Infrastructure Projects

14 Jul 2025 , 09:57 AM

HUDCO has signed a memorandum of understanding with the Madhya Pradesh Urban Development Company, outlining a plan to support housing and infrastructure projects across the state. The non-binding agreement, signed in Indore on July 11, lays the groundwork for ₹1 lakh crore in financial support to be provided over the next five years.

While the MoU is non-binding, it signals a serious intent to collaborate on a wide range of housing and infrastructure projects across the state. HUDCO isn’t just putting up the funds it’s also stepping in with technical advice and training support to help local authorities carry out the work more effectively.

The signing was done in the presence of key state officials, including Chief Minister Dr. Mohan Yadav and Urban Development Minister Kailash Vijayvargiya. HUDCO’s Chairman and Managing Director Sanjay Kulshrestha was also part of the ceremony.

In the financial front, HUDCO Profit came in at ₹728 crore up 4% compared to the same period last year. One of those was net interest income, which rose to ₹962 crore, marking a 26% increase from last year’s ₹761 crore. Loan growth played a role here, but so did improved returns across HUDCO’s lending book.

Assets under management climbed by 35%, crossing internal targets. Margins held up too, net interest margin for the quarter stood at 3.22%. Gross NPAs dropped to 1.67%, down from 2.71% a year ago. Net NPAs were lower too, coming in at 0.25% versus 0.36% previously.

The board has recommended a final dividend of ₹1.05 per share for the financial year, subject to approval at the upcoming annual general meeting.

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