 | |
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 25 April 1970; 55 years ago (1970-04-25) |
| Headquarters | New Delhi |
Key people | Sanjay Kulshrestha (Chairman &MD) |
| Products | Infrastructure loan |
| Revenue |  ₹7,571.64 crore (US$900 million) (2020)[1] |
| ₹6,133.36 crore (US$730 million) (2020)[1] | |
| ₹1,708.20 crore (US$200 million) (2020)[1] | |
| Total assets | ₹76,125.76 crore (US$9.0 billion) (2020)[1] |
| Total equity | ₹12,342.26 crore (US$1.5 billion) (2020)[1] |
| Owner | Government of India (74.8%)[2] |
Number of employees | 827 (March 2019) |
| Website | www.hudco.org.in |
TheHousing and Urban Development Corporation Limited, abbreviated asHUDCO, is an Indianpublic sector undertaking engaged inhousing finance andinfrastructure project finance. The Govt Grants Navratna Status to PSU on 18-April-2024.[3]
The institution came into existence on 25 April 1970 as a private limited company under the complete ownership of theGovernment of India with an equity base ofRs.2crore under theCompanies Act, 1956.[4][5][6]
It was created against the backdrop of housing deficit in India in 1960s and 70s, with the objective of addressing issue of housing finance and playing role in urban infrastructure development.[6]
The organisation provides finance for setting up of new towns and also works as consultancy services for the projects of designing and planning relating to Housing and Urban Development programs in India as well as abroad.
HUDCO wonUN-Habitat Scroll of Honour Award for the contributions to the development of housing in 1991.[7] The institution was conferred withminiratna status in 2004.[8][9]
HUDCO started financing for development of infrastructures in 1989.[10] The priority was giving for infrastructure facilities including projects in the sectors of drainage, electricity, water supply, sewerage, solid waste management and roads in the urban areas. Later the social infrastructure components like primary schools and play grounds, hostels for working women, healthcare centres, police stations and jails, courts, etc. received benefit of funding for low cost.[11]
HUDCO has provided term loans for construction of roads and other transportation sectors which includes construction of Airport, Railways, Ports, Metro Rails, Bridges and Flyover, Railway Over-bridges, Subways, Bypasses, Bus Terminal, Parking complexes, Purchase of public transport vehicles, Bus Stops/stations, Intelligent Traffic Management system etc.
Airport projects ofCochin International Airport andCalicut International Airport inKerala are supported by HUDCO.[12] The infrastructure forKerala State Road Transport Corporation andUPSRTC are also funded by them. HUDCO sanctioned₹100crore for KSRTC in 2002 for purchasing 550 buses and 350 mini-buses[13] and₹260 crores in 2014 for purchasing 1500 buses.[14]
In 1994, HUDCO set up a Waste Management Cell for promotion of municipal waste management.[15]
Capacity Building and Consultancy Services: HUDCO provides planning, designing, and urban development consultancy services and technical assistance to state governments, urban local bodies, and other stakeholders. It also organizes training programs and training workshops for professionals.
HUDCO has sanctioned 58 schemes with a project cost of₹675crore to provide new systems and to augment the existing systems.[15]
295 water supply schemes, with a project cost of₹5,285crore was funded by HUDCO.[15] In 2016, HUDCO has also given finance toNellore's underground drainage project proposed byNellore Municipal Corporation.[16]
