Page 26 - Banking Finance December 2019

PRESS RELEASE

Remarkable Growth of HUDCO reflected in 2nd Quarter Results of

2019-20

HUDCO in its 616th Board Meeting has approved the 2nd croresas on 30th September in FY 2019-20; compared
Quarter Financial Results and the growth is remarkably high to 10,956 crores as on 31st March, 2019.
in all the financial parameters of its MOU targets, like Net v. Disbursements of loans grown by52% with Rs. 5311
Profit, Total Income, Net Worth, Disbursements and Balance crores,as on 30th September in Financial Year 2019-
Sheet Size, etc. Both the Gross NPA and Net NPA are the 20; as compared to Rs.3503 crores as on 30th
Lowest in the Financing Sector of a Government Listed September in 2018-19, now crossing cumulative
Company. disbursements of Rs.1,71,554 crores, for both Housing
Dr. M Ravi Kanth is the CMD of HUDCO for the last 5 years & Urban Infrastructure in India.
and producing outstanding results for its growth and vi. NPAs in Hudco are from the past yearsbetween 2003
development, focusing on the required discipline and and 2006, and because of sincere efforts of HUDCO
diligence for a Government Company having divested 10% Team for recovery of Rs.800 crores in 2018-19, the Gross
of its equity in 2017 and the remaining 15% disinvestment NPA is reduced to 4.19%, and the Net NPA is reduced
to be done before 2020 as per SEBI Rules. The highlights of to 0.39%, as on 30.9.2019 in FY 2019-20, the lowest in
the HUDCO Growth are as follows: the sector.
i. Net Profit (Profit After Tax) of HUDCO registered a vii. Not even a single rupee was added as NPA, since Ravi
growth of 2.16 times increase touching all time high of Kanth joining as CMD in 2014, with Cautious and
the 2nd Quarter to Rs.725.84 crores in Financial Strategic Lending to State Governments, but with
Year2019-20(on quarter-on-quarter basis)from Highest Sanctions, Highest Disbursements, Highest
Rs.335.68 crores of the 1st Quarter of FY 2019-20. Profit, Highest Net Worth to its remarkable credit in
the last five years, though the credit off take in the
On Half-Yearly basis, Net Profit is 72% high with
market is not uniform and low; because of the financial
Rs.1061.52 crores,as on 30.9.2019 in FY 2019-20,
conditions and special circumstances of many state
compared to Rs.615.52 crores as on 30.9.2018inFY
governments on repayment capacity
2018-19.
viii. "AAA" Credit Rating achieved in 2015 from 3 credit
ii. Total Income registered a growth of 1.13 times
rating Agencies, within one year of Dr. M Ravi Kanth
increase touching all time high of the 2nd Quarter to
joining as CMD in 2014, and maintaining the same for
Rs.2053.79 crores in Financial Year 2019-20 (on quarter-
Hudco, with due diligence, fiscal prudence and dynamic
on-quarter basis) from Rs.1816.19 crores of the 1st
leadership.
Quarter of FY 2019-20.
ix. IPO of HUDCO 80 times getting oversubscribed in May
On Half-Yearly basis, Total Income is 39% high with
2017 is first of its kind for any Government Company,
Rs.3869.98 crores, as on 30.9.2019 in FY 2019-20, and the remaining 15% disinvestment is on now.
compared to Rs.2793.10 crores as on 30.9.2018 in FY
Hudcois in Golden Jubilee Year now in the FY 2019-20, having
2018-19.
been incorporated in the 4th Five Year Plan, on 25th April,
iii. Balance Sheet size grown by 55% to Rs.75,000 crores 1970 for financing to Housing & Urban Infrastructure Sector,
as on 30.9.2019in FY 2019-20 from Rs.48,343 crores as Central Public Sector Enterprise with 8 main objectives
as on 30.9.2018 in FY 2018-19. and huge mandate to implement all the programmes &
iv. Net Worth of Hudco has gone up by 10% to Rs.11980.14 policies of the Government of India.

26 | 2019 | DECEMBER | BANKING FINANCE