HUDCO Registers 87% Growth in Disbursements During Financial Year 2018-19

Dr M.Ravi Kanth, CMD HUDCO shared the highlights of HUDCO’s excellent performance during the year 2018-19. Since inception, HUDCO has financed over 17100 housing and infrastructure projects with a cumulative sanction of Rs. 2,01,931 crore and disbursements of Rs.1,66,175 crore. HUDCO has supported more than 19.34 million houses in the country, both in rural and urban areas, thus making it the largest facilitator of housing delivery in the country.
During the year 2018-19, a total of 20.6 lakh dwelling units were sanctioned, including EWS and LIG category. Against the annual disbursement target of Rs.16,565 crore, HUDCO has disbursed Rs. 31,010 crores. This is a growth of 87% over the previous year’s disbursements of 16,565 crores.
HUDCO became a listed company in 2017 and has maintained its “AAA” rating for the third consecutive year. As of December 2018, HUDCO’s gross NPA stood at 5.82% and net NPA at 0.80%, which is among the lowest in the sector. HUDCO is expected to get “Excellent” rating for the eighth year in a row, for the tripartite MoU signed by HUDCO with MoHUPA and DPE for the year 2018-19. HUDCO has also been consistently working to accelerate the pace of providing quality urban infrastructure in the country over the decades by financing over 2200 infrastructure projects, covering utility, social and commercial infrastructure. Major infrastructure projects sanctioned include a line of credit of Rs. 2175.30 crore to Odisha
Urban infrastructure Fund Board for stormwater/drainage works in five cities of Odisha and financial assistance of Rs. 200 crore to Agartala Smart City Ltd. for construction/ upgradation of smart city components. HUDCO has been identified as one of the Central Nodal Agencies (CNA) to channelize the subsidy under the Credit-Linked Subsidy Scheme of Housing for All (Urban) Programme under the Pradhan Mantri Awas Yojana. As CNA HUDCO has executed MoU with 86 Banks/ Prime Lending Institutions (PLIs) for EWS/LIG category and with 80 Banks/PLIs for MIG-I and MIG-II. HUDCO has disbursed Rs.318.03 crore as CLSS subsidy to EWS/LIG 14825 beneficiaries and Rs.86.33 Crore as CLSS subsidy to 4215 MIG beneficiaries till 31-03-2019. During 2018-19, HUDCO disbursed Rs.260.99 crore CLSS subsidy to 11738 EWS/LIG beneficiaries and Rs.80.96 crore
CLSS subsidy to 3937 MIG category beneficiaries, through its Retail Finance Window i.e. HUDCO Niwas. As part of its capacity-building efforts, HUDCO’S HSMI conducted five research studies and 16 training programmes, including three International training programme for professionals under the ITEC programmes of the Ministry of External Affairs.  The annual HUDCO Design Awards, which give recognition and encourage innovative ideas of architects, town planners and engineers that make cities inclusive, liveable and environmentally
sustainable, were given to seventeen awardees under five categories.

In line with the thrust areas identified in its Corporate Social Responsibility (CSR) and Sustainability Policy, HUDCO has sanctioned assistance of Rs. 9.30 crore for socially beneficial proposals all over the country, such as sanitation, education and healthcare, renewable energy solutions,employment-oriented skill training programmes and rehabilitation housing for flood victims in Kerala.

Author: sarkarimirror