HUDCO POSTS AN IMPRESSIVE PAT OF RS.777 CRORES (PROVISIONAL)
New Delhi: Housing & Urban Development Corporation Ltd. (HUDCO), the premier techno-financing CPSE under the Ministry of Housing and Urban Poverty Alleviation has completed yet another successful year in the service of the nation. For the financial year 2014-15, HUDCO has posted an impressive ProfitAfterTax (PAT) of Rs. 777 crores (provisional) as against Rs. 726.34 crores during FY2013-14 with 6.97% increase over last year. The total Sanctions for the year have also been 31% higher with total sanction of Rs. 21094 crore against the MoU target of Rs.16100 crores. In respect of disbursements, a total amount of Rs 8100 crore has been disbursed against the target of Rs 7300 crore registering 111%. With this, the cumulative disbursements has crossed One lakh crore rupees and it is a major mile stone.
A total of 4.86 lakh residential units have been sanctioned for various sections of the society, against the annual target of 4.23 lakh units for the year 2014-15. The major schemes sanctioned for housing cover the Lohia Awas Yojana in Uttar Pradesh for 60,000 houses, Atal Aashray Awas Yojana in Madhya Pradesh for 1 lakh houses, additional loan assistance for IAY beneficiaries in Kerala for 1,49,700 families and rehabilitation and resettlement of project affected/displaced families of Upper Krishna project in Karnataka for 50,832 families. A housing scheme for weaker sections in Vadodara for 6096 houses has also been sanctioned. Further, 9 housing projects for a total of 20,158 units in 9 district panchayats of Rajasthan have also been sanctioned.
In the field of urban infrastructure projects, HUDCO has sanctioned a total of 121 projects for a total loan amount of 14,426 crore covering utility, social and commercial infrastructure. Some of the major infrastructure projects sanctioned, include state water grid for Telangana State (Rs 2500 crore), land acquisition and development for information technology investment region in Karnataka (Rs 1000 crore), land acquisition and infrastructure development for the Naya Raipur (Rs 750 crore), and improvement of State Highways in Uttar Pradesh (Rs 1090 crore).
During 2014-15, HUDCO moblized total resources aggregating to Rs. 5074.37 crore at a weighted average borrowing cost of 8.18% (i.e. 38 bps above 10 yr. G.Sec. as on 31.03.2015).
In the financial year 2014-15, HUDCO has sanctioned two schemes in the State of Uttarakhand for HUDCO KfW grant of Rs. 138.00 lacs and Rs. 17.50 lacs has been released under Model Village / Basti Scheme.
With a view to mobilise a culture of Innovation and continued focus in rolling out innovative products, there is an effort to sensitize the employees at all levels, with the organization and the employee training forums are converged towards reaching this objective.
For the MoU signed by HUDCO with MoHUPA for the year 2014-15, HUDCO’s internal assessment shows that HUDCO is expected to achieve ‘Excellent’ rating in 27 of the total 28 MoU parameters in 2014-15. Thus, overall HUDCO is expected to achieve ‘Excellent’ MoU rating for the year 2014-15.
NEW INITIATIVES FOR GROWTH AND DEVELOPMENT
i) New Products
a) Senior Citizens’ Homes
As part of promoting innovative products and initiatives, HUDCO has launched a new scheme for providing concessional funding to public agencies for taking up senior citizens’ homes, with appropriate senior citizen-friendly design and related facilities. We are advocating for availing larger quantum of funds from HUDCO by State Governments and Urban Local Bodies, by leveraging the accumulated pool of funds that accrue to ULBs at State level such as VAT, etc.
b) Programme Assistance to State / ULBs
The guidelines for the mechanism of funding ‘Programme Assistance to State / ULBs for development of Housing & Urban Infrastructure’ was approved by HUDCO for faciliting the State Governments/ULBs to leverage substanial quantam of long terms loan against the corpus of ‘Fund’ created from specified source for development / improvement of non-remunerative components necessary for cities and towns based on the prioroity.
ii) Micro Finance for Housing
To ensure financial inclusion of poor and self-employed women in slums and informal settlements, who have so far been denied the benefit of home loans through the formal lending mechanism, HUDCO has joined hands with SEWA through equity investment of Rs. 1.8 crore in the new Housing Finance Company SEWA Grih Rin Ltd , which has been registered as HFC by NHB, recently.
iii) HUDCO Design Awards
The guidelines for the mechanism of funding ‘Programme Assistance to State / ULBs for development of Housing & Urban Infrastructure’ was approved by HUDCO for faciliting the State Governments/ULBs to leverage substanial quantam of long terms loan against the corpus of ‘Fund’ created from specified source for development / improvement of non-remunerative components necessary for cities and towns based on the prioroity.
ii) Micro Finance for Housing
To ensure financial inclusion of poor and self-employed women in slums and informal settlements, who have so far been denied the benefit of home loans through the formal lending mechanism, HUDCO has joined hands with SEWA through equity investment of Rs. 1.8 crore in the new Housing Finance Company SEWA Grih Rin Ltd , which has been registered as HFC by NHB, recently.
iii) HUDCO Design Awards
Launched in 2012, ‘HUDCO Design Awards’ gives recognition and; encourages innovative ideas of architects, town planners and engineers that make cities inclusive, beautiful and environmentally sustainable. The Award received overwhelming response from urban professionals across the country. Jury chose 14 projects for HUDCO Design Awards under 5 categories.
iv) Research, Training & Capacity Building Activities Through HSMI
During the financial year FY2014-15, 28 training programs consisting of 27 Capacity Building Programmes for Urban Local Bodies and one international programme have been conducted, covering 725 Indian and 20 international professionals from different sectors. The total R&Dexpenditure incurred in FY 2014-15 was Rs.186.63 lakh covering expenditure on Research Projects, HUDCO Chair Activities, CSR Report, Best Practice Awards and other activities.
v) HUDCO CSR Initiatives
HUDCO has always emphasized on the importance of CSR Activities and in line with the thrust areas identified in its CSR and Sustainability Policy, HUDCO has sanctioned CSR assistance of Rs. 12.84 crore for 35 proposals for implementation of socially beneficial proposals such as construction of Night Shelters, Community Toiletsand Employment Oriented Skill Training Programmes all over the country. Further, to address the problem of shelterless Urban Poor, HUDCO had sanctioned CSR assistance of Rs. 9.68 crores for construction of 26 Night Shelters at various locations, being taken up by the various local bodies.As part of its Corporate Social Responsibility initiatives, HUDCO has sanctioned 27 night shelters in 11 States.
