HUDCO to Fund ₹1.5 Lakh Crore for MMRDA Infrastructure Projects in Mumbai

9 Apr 2025 , 10:24 AM

On Tuesday, April 8, 2023, Housing and Urban Development Corporation Ltd. (HUDCO) Entered into a Memorandum of Understanding (MoU) with Mumbai Metropolitan Region Development Authority (MMRDA) for the Infrastructure Development of Mumbai.

As part of this collaboration, HUDCO will examine and provide funding support worth up to ₹1.5 lakh crore over the next five years to fund different urban infrastructure initiatives launched by MMRDA. The funds will support strengthening urban connectivity, housing and development initiatives accelerating sustainable growth of Mumbai’s metropolitan region.

Apart from financial assistance, HUDCO will also extend consultancy and capacity building support according to the changing project requirements of the MMRDA. This convergence fortuitously complements HUDCO’s objective of advancing inclusive urban growth while solidifying its position as a pivotal figure in funding auxiliary public good projects.

Last month, HUDCO had announced the second interim dividend of ₹1.05 per share for the entire financial year, as it had been in a strong financial position.

In FY26, HUDCO has set a target of growing its loan book to ₹1.5 lakh crore, and is confident of reaching its FY25 target of ₹1.2 lakh crore. Sanjay Kulshrestha, CMD of HUDCO also stated earlier that there was growth potential in housing and urban infrastructure, and current opportunities will likely lead to upward targets revision for FY26.

The decision on whether to revise the targets is most likely to be taken in first quarter of the next financial year on sector wise performance basis, he said. This MoU reaffirms HUDCO’s resolution to facilitate sizable infrastructure progress initiatives in sync with India’s broader framework for urban constitutes and economic evolution.