The Housing & Urban Development Corporation (HUDCO) has posted a provisional Profit After Tax (PAT) of Rs.719.69 crores for the year 2013-14 as against Rs.700.56 crores during last year with 2.73 per cent increase.
HUDCO which is under the Ministry of Housing and Urban Poverty Alleviation sanctioned a total of 72 schemes with a financial assistance of Rs.7,848 crores for various sectors like water supply, sewerage, drainage, power, social infrastructure, commercial infrastructure, roads and transport, according to a press release. Of the total 14.34 lakh Dwelling Units (DUs) sanctioned during the year, 98.5 per cent were for the economically weaker and low income group categories.
During the year, HUDCO also mobilised Rs.4,987 crore through the issue of Long Term Tax Free Bonds and the outlook on its credit rating has also been upgraded from ‘stable’ to ‘positive’ by India Ratings (Fitch Group), the release added.
