HUDCO Secures Major Funding Deal with Rajasthan Govt

Housing and Urban Development Corporation Limited (HUDCO) has entered into a significant Memorandum of Understanding (MoU) with the Government of Rajasthan, represented by its Department of Finance. This MoU, signed on July 24, 2024, in Jaipur, is set to provide a substantial ₹1,00,000 crore in financial assistance for housing and urban infrastructure projects across Rajasthan over the next five years, subject to mutually agreed terms and conditions.

The MoU was signed by Shri Sanjay Kulshrestha, CMD of HUDCO, and Shri Debasish Prusty, IAS, Secretary to the Government of Rajasthan’s Finance (Budget) Department. The ceremony was graced by the presence of Shri Bhajan Lal Sharma, the Hon'ble Chief Minister of Rajasthan, highlighting the importance of this partnership for the state's development.

This collaboration aims to boost the infrastructure and housing sectors in Rajasthan, addressing critical urban development needs. The proposed funding will support various projects, potentially transforming the urban landscape of the state.

Meanwhile, on the stock market, shares of HUDCO experienced a decline. They were last trading at ₹307.15 on the BSE, down from the previous close of ₹323.65, with a total of 7,385,258 shares traded in over 91,507 transactions.

The MoU marks a pivotal step in HUDCO's mission to support urban development, reinforcing its role as a key player in India’s housing and infrastructure sectors.

News by Rahul Yelligetti