HUDCO's Rs 30,000 Crore Partnership to Transform Infrastructure and Housing

The Housing and Urban Development Corporation (HUDCO) is in talks with the government of Maharashtra to support infrastructure and housing projects in the state with funding of over Rs 30,000 crore.

The public sector undertaking is in talks with development bodies including Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra State Road Development Corporation (MSRDC), Thane Municipal Corporation, state government’s Public Works Department (PWD), and Mumbai Metro Rail Corporation.

HUDCO has enhanced its borrowing limit to Rs 35,000 crore from Rs 18,000 crore and is looking to raise funds to support the financing of infrastructure and housing projects across the country and to also support repayment of its existing debt. Of the current limit of Rs 18,000 crore, its has already raised Rs 12,000 crore.

HUDCO is in the process of registration as a non-banking finance company-Infrastructure Finance Company (NBFC-IFC) with the Reserve Bank of India. Till the time of registration of HUDCO, the company continues to retain the status of a housing finance company (HFC).

News by Rahul Yelligetti