Housing & Urban Development Corporation Ltd (HUDCO) on January 22 reported a 42 percent year-over-year rise in net profit to Rs 735 crore in the October-December quarter (Q3) of FY25. Its net profit stood at Rs 519.23 in the corresponding quarter of the previous financial year.
The Navratna company also recorded a strong rise in revenue at Rs 2,760 crore in Q3. This marks a rise of nearly 37% from the Rs 2,013 crore revenue reported in the year-ago period.
HUDCO also announced an interim dividend of Rs 2.05 per equity share for the current financial year 2025. The company has set January 30 as the record date for determining the eligibility of the shareholders set to receive the dividend.
Notably, the company has raised its borrowing plan for the current financial year from Rs 40,000 crore to Rs 55,000 crore. It cited "quantum jump in business" as the reason behind the decision.
HUDCO's expenses saw a rise of 39% year-over-year to Rs 1,838 crore in Q3. Its earnings per share (EPS) stood at Rs 3.67. At the end of December 2024, the President of India held the majority of stake in the company at 75%.
Read about Q3 results LIVE
HUDCO also announced its plan to exit from its associate company Ind Bank Housing Limited (IBHL). In its exchange filing, the company however didn't mention the reason for the same.
HUDCO shares closed 0.62% lower at Rs 228 on January 22. The shares have so far fallen around 30% in the past six months.
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