Saturday, June 25, 2022

HUDCO posts robust financial results in golden jubilee year FY’20

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New Delhi: The Chairman & Managing Director (CMD) of HUDCO M Nagaraj shared the highlights of HUDCO’s robust performance amid COVID-19 crisis that has shadowed Indian Economy and annual results of most of the companies. In FY'20 that happens to be HUDCO's golden jubilee year as well, the company has recorded outstanding financial results witnessing a 45 percent growth in the net profit that has touched an all-time high of Rs 1708.42 crore in the financial year FY'20, from Rs 1180.15 crore in FY'19. HUDCO has seen a 13 percent growth in its net worth that has reached Rs 12343.49 crore in 2019-20, from Rs 10955.77 crore in 2018-2019. The net total income also witnessed a quantum jump of 35 percent to Rs 7571.64 crore in FY'2019-2020, from Rs 5591.22 crore in FY'19.

HUDCO board has also approved an all-time high dividend of Rs 3.10 per share subject to approval by the shareholders. The above includes an interim dividend of Rs 0.75 per share paid in March 2020. The total dividend recommended by the company is Rs 620.59 crore as against Rs 165.16 crore in the previous year

Further, HUDCO's Director (Finance) D Guhan has shared that HUDCO board has also approved an all-time high dividend of Rs 3.10 per share subject to approval by the shareholders. The above includes an interim dividend of Rs 0.75 per share paid in March 2020. The total dividend recommended by the company is Rs 620.59 crore as against Rs 165.16 crore in the previous year.

Further, HUDCO’s net NPA is 0.19 percent, which is among the lowest in the sector. During the year FY'20, HUDCO’s emphasis was on the sanction of projects pertaining to Housing-PMAY(U), Expressways and Water Supply projects.

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