Housing & Urban Development Corporation Ltd (HUDCO) reported a 42% year-on-year (YoY) growth in its net profit for Q3 FY25, reaching Rs 735 crore compared to Rs 519.23 crore in the same period last year.
The Navratna company also recorded a strong 37% YoY increase in revenue, which stood at Rs 2,760 crore, up from Rs 2,013 crore reported in Q3 FY24.
HUDCO announced an interim dividend of Rs 2.05 per equity share for FY25. The record date for determining eligible shareholders to receive the dividend is January 30, 2025.
The company also revised its borrowing plan for FY25, increasing it from Rs 40,000 crore to Rs 55,000 crore, citing a “quantum jump in business” as the driving factor.
On the cost front, HUDCO’s total expenses increased 39% YoY to Rs 1,838 crore during the quarter. The EPS of the company stood at Rs 3.67 for Q3.
Moreover, HUDCO also announced its exit from its associate company, Ind Bank Housing Limited (IBHL), citing strategic reasons in its regulatory filing. As of the end of December 2024, the President of India was the single largest stakeholder in HUDCO, owning 75% of the stake.
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Source: Moneycontrol
News Desk
