48th Foundation Day of HUDCO celebrated

The Minister of Housing & Urban Development Hardeep Singh inaugurated the 47th Foundation Day of Housing and Urban Development Corporation (HUDCO) yesterday. He said that HUDCO is playing an important role in taking financial inclusion forward in the country, as it is taking care of the housing finance needs of the economically deprived sections.The Minister congratulated HUDCO on completing 48 glorious years of service to the nation and highlighted the significant role of HUDCO in realizing the vision of “Housing for All”.

On the occasion, the Minister released HUDCO publications namely, HUDCO Darpan, SHELTER, HUDCO Design Awards – 2017 and Sankalp. The Minister stressed that the felicitation is to inspire others in doing good work and gave away awards to the Best performing agencies, HUDCO Best Practices, Nari Shakti awards, HUDCO Design Awards etc.The government has urged the Housing and Urban Development Corporation to expand its activities and cover a large number of stakeholders under its lending operations. Addressing an event organized to celebrate the 48th Foundation Day of HUDCO Urban Development minister Hardeep Singh Puri suggested that HUDCO may focus on the needs of aspirational districts thus helping in the balanced development across the country.

Dr. M Ravi Kanth, CMD, HUDCO highlighted HUDCO’s achievements in the last financial year wherein HUDCO attained highest ever sanctions of Rs. 38,627crores and highest ever disbursements of Rs.16562 crores in pursuit of its goals & objectives, with the social motto of Profitability with Social Justice. With these achievements, Hudco’s Balance Sheet has touched a record high of Rs.50,000 crore. He congratulated HUDCO for getting a perfect score for the past two years, by getting 100 out of 100, under various parameters stipulated and targets given in MOU. During the year 2017-18, HUDCO reduced defaults of Rs.1,120 crore and has paid corporate tax of Rs.448 crore and a dividend of Rs.108 crore and dividend tax of Rs. 25 crores to Government.

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