HUDCO posts 17% rise in net profits

HUDCO posts 17% rise in net profits

FPJ BureauUpdated: Monday, June 03, 2019, 07:50 PM IST
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HUDCO has witnessed a 17 per cent rise in net profit that has touched an all-time high of Rs 1,180 crore in 2018-19, from Rs 1,010 crore in 2017-18.  M Ravi Kanth, CMD, HUDCO addressing the  year 2018-19 results as robust said, HUDCO has seen a 10 per cent growth in its net worth that has reached Rs 10,956 crore in 2018-19, from Rs 9,943 crore in 2017-18. The net total income also witnessed a jump of 33 per cent to Rs 5,548 crore in 2018-19, from Rs 4,171 crore in 2017-18.

HUDCO has disbursed Rs 31,009 crore, which is a growth of 87 per cent in 2018-19, from Rs 16,565 crore in 2017-18. The balance sheet size of HUDCO has seen a quantum jump of 49 per cent to Rs 72,829 crore in 2018-19, from Rs 48,915 crore in 2017-18. HUDCO’s net NPA is 0.50 per cent, which is among the lowest in the sector. During the year 2018-19, a total of 20.68 lakh dwelling units were sanctioned, including EWS and LIG category, as against 8.88 lakh units in 2017-18.

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