HUDCO 1,50,000 Crore MoU with Maharashtra

 

  • HUDCO 1,50,000 Crore MoU with Maharashtra


  • Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra, on 8th April, 2025 at Mumbai. 
  • The MoU has been entered to establish a framework for cooperation between HUDCO and MMRDA wherein HUDCO shall explore and provide funds up to Rs.1,50,000 Crore over a period of five years for development of infrastructure projects to be implemented by MMRDA in Mumbai Metropolitan Region.
  •  Further, HUDCO will also extend Consultancy services and Capacity Building activities to meet the emerging requirements of MMRDA. 
  • The MoU was signed in presence of Shri Devendra Fadnavis, Hon’ble Chief Minister, Maharashtra, Shri Eknath Shinde, Hon’ble Deputy Chief Minister, Maharashtra, Shri Sanjay Kulshrestha, Chairman & Managing Director, HUDCO and other dignitaries.  
  • Strategic importance and majority shareholding by the GoI 
    • HUDCO is majority owned by the GoI (with 75.0% stake as on December 31, 2024). 
    • It is a strategically important entity for GoI and has played a significant role in the implementation of its various initiatives in urban infrastructure and social housing projects. 
    • HUDCO is the central nodal agency (CNA) for government scheme of ‘Housing For All’ and is actively involved in action plan schemes like Jal Jeevan Mission (JJM), Atal Mission for Rejuvenation Urban Transformation (AMRUT), Pradhan Mantri Awas Yojna etc. 
    • With substantial investment expected under National Infrastructure Pipeline (NIP), HUDCO is expected to actively participate in meeting the said requirements. 
    • HUDCO lends under these schemes and provides consultancy services for appraisal of projects sanctioned under schemes. 
    • Being majority owned by the GoI, HUDCO receives support in terms of (i) board representation with two government nominee directors (besides two independent directors and three functional directors, including Chairman and Managing Director), (ii) business growth, (iii) access to low-cost funds and foreign currency lines from multilateral institutions, among others and refinance assistance from National Housing Bank (NHB)/ India Infrastructure Finance Company Ltd (IIFCL). 
    • CARE Ratings expects HUDCO to remain a strategically important entity for the GoI. 
    • Healthy AUM growth with majority towards government sector 
      • HUDCO, being incorporated in 1970, has completed over five decades of operation reaching to an AUM of ₹92,654 crore as on March 31, 2024 (+14% y-o-y). With pick up in disbursements in urban infrastructure financing segment in 9M FY25, its AUM reached Rs. 1,18,931 crore as on December 31, 2024, growing by ~41% y-o-y. 
      • With this, share of infrastructure financing has increased to 66% as on December 31, 2024. 
      • Since it has received the certificate of registration as an NBFC-IFC from RBI in August 2024, HUDCO has requested for extension till March 31, 2026 to achieve the threshold of 75% of the AUM as urban infrastructure. HUDCO has majorly lent to the government sector forming 98.30% of loan book as on December 31, 2024, as it had ceased its lending towards private sector since 2013. 
      • Of gross loans as on March 31, 2024, 92% has been secured by government guarantee leading to lower credit risk.

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