HUDCO Signs MoU with NMRDA to Provide ₹11,300 Crore for Housing and Infrastructure in Nagpur
HUDCO and NMRDA have signed a non-binding MoU to collaborate on land acquisition, housing, and infrastructure development in the Nagpur Metropolitan Region, with HUDCO committing to provide up to ₹11,300 crore over five years.
HudcoNmrdaHousingInfrastructureNagpurReal Estate NewsSep 08, 2025
Under the agreement, HUDCO will explore funding up to ₹11,300 crore over five years. The funds will be used for key development projects, while HUDCO will also provide consultancy services and capacity-building initiatives to meet NMRDA’s emerging needs.
The MoU was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, and HUDCO Chairman and Managing Director Sanjay Kulshrestha, along with other dignitaries.
HUDCO’s net profit for the first quarter increased 13% to ₹630.2 crore from ₹558 crore a year ago. Net interest income (NII) or core income for the quarter increased by 32% on-year to ₹961 crore from ₹724.7 crore. HUDCO's asset quality saw an improvement on a sequential basis. Gross NPA at the end of the June quarter stood at 1.34% from 1.67% in March, while net NPA improved to 0.09% from 0.25% in March. The improvement in asset quality was courtesy of a long-pending NPA account worth ₹277.68 crore, which was resolved, while four NPA accounts worth ₹7.27 crore were technically written off.
In its business updates for the quarter, HUDCO's loan sanctions more than doubled from last year, growing by 143% to ₹34,224 crore, while loan disbursements remained largely flat at ₹12,812 crore. Shares of Housing & Urban Development Corporation Ltd ended at ₹217.54, up by ₹3.20 or 1.49%, on the BSE today (September 8).
Frequently Asked Questions
What is the purpose of the MoU signed between HUDCO and NMRDA?
The MoU aims to create a collaborative partnership to support land acquisition, housing, and infrastructure development in the Nagpur Metropolitan Region.
How much funding is HUDCO committed to providing under the MoU?
HUDCO is committed to providing up to ₹11,300 crore over five years for key development projects in Nagpur.
What additional services will HUDCO provide under the MoU?
HUDCO will provide consultancy services and capacity-building initiatives to meet NMRDA’s emerging needs.
What was HUDCO's net profit for the first quarter?
HUDCO’s net profit for the first quarter increased 13% to ₹630.2 crore from ₹558 crore a year ago.
How has HUDCO's asset quality improved recently?
HUDCO's asset quality improved with gross NPA at 1.34% from 1.67% in March, and net NPA improved to 0.09% from 0.25% in March.
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