Hudco pays Rs 100 cr dividend to the Govt

NEW DELHI: The Housing and Urban Development Corporation (Hudco) declared a total dividend of Rs. 100.01 crore for the financial year 2013-14 to the Government.  Out of this, Rs. 69.20 crore is payable to the Ministry of Housing and Urban Poverty Alleviation, Rs. 10.08 crore to the Ministry of Urban Development and Rs. 20.73 crore to the Rural Development Ministry.

M Ravi Kanth, CMD of Hudco. along with NL Manjoka, Director Corporate Planning and AK Kaushik, Director Finance presented the dividend cheque to Minister for Housing & Urban Poverty Alleviation M Venkaiah Naidu in the presence of HUPA Secretary Anita Agnihotri on October 16.

A day later, a cheque of Rs 21 crore was presented to Nitin Gadkari, Minister for Rural Development and Road Transport & Highways, in the presence of MoS for Rural Development Upendra Kushwaha and LC Goyal, Secretary in the ministry.

For the financial year 2013-14, Hudco posted impressive Profit After Tax (PAT) of Rs. 726.34 crores against Rs.700.56 crores during 2012-2013 registering 3.68  per cent increase over the last year.

Hudco has sanctioned a total of 72 schemes with a financial assistance of Rs. 7,848 crore under various sectors like water supply, sewerage, drainage, power, social infrastructure, commercial infrastructure, roads and transport.