Public sector Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) for collaboration in infrastructure development and their financing worth ₹5,000 crore. The MoU was signed on Friday.
“The purpose of this non-binding MoU is to establish and initiate cooperation for exploring collaboration in existing and upcoming infrastructure development and financing & refinancing of port infrastructure projects at JN port for an estimated amount of ₹5,000 crore,” HUDCO said in a stock exchange filing.
The MoU was signed by Sanjay Kulshrestha, CMD, HUDCO and Unmesh Sharad Wagh, Chairman, JNPA.
HUDCO provides finance/credit facility to the housing and infrastructure sectors/sub-sectors, with special emphasis on urban development.
In September this year, HUDCO had also signed an MoU with Nagpur Metropolitan Region Development Authority (NMRDA) to explore and provide funds up to ₹11,300 crore for land acquisition, housing, and development of infrastructure projects.
Further, the MoU also covered extension of HUDCO’s consultancy services and capacity building activities to meet the emerging requirements of NMRDA.
HUDCO has set a target of extending over ₹3 lakh crore in infrastructure finance by 2030, spanning affordable housing, clean energy, urban mobility, roads, ports and all core infrastructure access.
Various reform-driven initiatives of the Government of India in the field of green energy transition, aviation and multimodal connectivity present a significant opportunity for HUDCO to leverage its expertise in innovative financing solutions, consultancy and capacity building initiatives, to support sustainable urban development.
HUDCO posted its highest ever net profit of ₹2,709 crore in financial year 2024-25, showing 28% increase over the previous year.
The company saw its loan book size growing to ₹1,24,828 crore as of March 31.
