New Delhi: State-owned Housing and Urban Development Corporation (HUDCO) on Wednesday reported 4 per cent increase in consolidated net profit at Rs 727.74 crore for March quarter FY25 on higher income.Its net profit stood at Rs 700.16 crore in the year-ago period.
Total income rose to Rs 2,854.91 crore in January-March 2024-25 from Rs 2,194.04 crore in the year-ago period, according to a regulatory filing.During 2024-25, HUDCO's net profit increased to Rs 2,709.14 crore from Rs 2,116.69 crore in the preceding year.Total income also rose to Rs 10,348.38 crore from Rs 7,948.10 crore in 2023-24.
On Tuesday, HUDCO said it plans to raise up to Rs 2,190 crore through issue of debentures.The company said the 'Bond Allotment Committee' has approved raising of debentures as unsecured, taxable, redeemable, non-convertible, non-cumulative NCDs (non-convertible debentures) of face value of Rs 1,00,000 each aggregating up to Rs 2,190 crore on private placement basis.
Bonds are redeemable at par at the end of 5th year with interest payment on yearly basis at a coupon rate of 6.9 per cent.HUDCO is engaged in financing of housing and infrastructure projects
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