HUDCO board to consider increasing borrowing plan to ₹55,000 crore for FY25

The Housing and Urban Development Corporation (HUDCO) has announced that its Board of Directors will meet on January 22, 2025, to discuss key financial matters, including an enhancement of its borrowing plan for FY24-25. The proposal seeks to increase the borrowing limit from ₹40,000 crore to ₹55,000 crore.

Key Highlights:

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  1. Borrowing Plan:
    • The proposed increase in the borrowing plan is aimed at supporting HUDCO’s financial requirements for infrastructure and urban development projects.
    • The outstanding borrowings at any given time will not exceed the overall limit approved by shareholders.
  2. Interim Dividend:
    • The Board will also consider declaring an interim dividend for FY25.
    • A record date for determining shareholder entitlement for the dividend has been tentatively set as January 30, 2025, subject to Board approval.
  3. Quarterly Financial Results:
    • The meeting will also address the approval of unaudited financial results for the quarter and nine months ending December 31, 2024.

This strategic move underscores HUDCO’s focus on scaling up its funding capabilities to meet the demands of India’s growing infrastructure and urban development needs. Further details will be disclosed following the Board meeting.

Disclaimer: The information provided is for informational purposes only and should not be considered as financial or investment advice.