11 August 2025
6 mins read
Source: Screener.in/Trendlyne/Economic Times/Live Mint/Moneycontrol
Housing and Urban Development Corporation Ltd. (HUDCO) is a government-owned financial institution that supports housing and urban infrastructure in India. Established in 1970, it plays a key role in financing housing for economically weaker sections, utility infrastructure like roads and water supply, and projects such as smart cities and telecom services. HUDCO also provides consultancy and disaster mitigation support, along with research and training in urban planning. Over the years, it has grown from a housing finance company into a diversified NBFC-Infrastructure Finance Company (NBFC-IFC) offering innovative solutions to urban development needs across India.
(Source: HUDCO website)
Details | Information |
Founded Year | 1970 |
Industry Type | Housing and Urban Infrastructure |
Headquarters | New Delhi, India |
Key People | Mr. Sanjay Kulshrestha (Chairman & MD) |
Housing and Urban Development Corporation Ltd. (HUDCO) was incorporated on 25 April 1970 as “The Housing and Urban Development Finance Corporation Private Limited.” It became a public limited company in 1974, adopting its current name. In 1996, it was notified as a public financial institution by the Ministry of Finance, Government of India. HUDCO received its housing finance license from the National Housing Bank (NHB) in 2001. Over time, it evolved from a housing finance company into an infrastructure-focused NBFC-IFC. With this transformation, HUDCO expanded its reach to support India’s large-scale infrastructure development and affordable housing goals.
(Source: HUDCO website)
HUDCO operates in the housing and urban infrastructure sector. It funds a wide range of projects including water supply, sanitation, roads, electricity, and smart city initiatives. The company also supports social infrastructure—such as schools, women’s hostels, and health centres—and offers consultancy services in urban planning, design, and environmental engineering. HUDCO’s training programs help officials improve implementation of urban projects. The company plays a vital role in bridging the gap between demand for urban development and the availability of structured financing.
HUDCO’s core operations fall under two major categories: housing finance and urban infrastructure development, supported by technical consultancy.
1. Housing Finance:
Social housing for economically weaker sections (EWS/LIG)
Urban and rural housing schemes
Institutional housing: police stations, courts, healthcare centres, staff quarters, crematoriums
Retail home loans under HUDCO Niwas programme for individuals for construction, purchase, or renovation
2. Urban Infrastructure Finance:
Water supply, sewerage, drainage, and solid waste management
Road, bridge, and public transport infrastructure
Power distribution and renewable energy support
Industrial and emerging sectors: SEZs, gas pipelines, oil terminals, telecom projects
Commercial facilities: malls, markets, hotels, office complexes
Social infrastructure: schools, hostels, healthcare facilities, community centres
3. Technical & Consultancy Services:
Urban planning, architectural design, project appraisal, and environmental engineering
Training, research, and disaster-resilient construction solutions
HUDCO's diversified portfolio enables it to contribute across India’s housing and urban transformation spectrum.
Here are some important aspects of HUDCO's purpose and recent developments.
HUDCO’s vision is to be a leading techno-financial institution that promotes sustainable habitat development. Its mission is to improve people’s quality of life by funding housing and infrastructure with a focus on sustainability. The organisation aims to support inclusive urbanisation while addressing affordability and infrastructure gaps.
(Source: HUDCO website)
Public shareholding increased to 25% by FY 2023-24
Issued Zero Coupon Bonds and Exemption Bonds
Transitioned from HFC to NBFC-IFC status in 2020
Declared all-time high dividend of ₹830.79 crore (₹4.15/share) in FY 2023-24
Awarded Navratna status in 2024-25
Continued focus on infrastructure finance beyond traditional housing
HUDCO's board recently approved a fundraise of up to ₹750 crore through non-convertible debentures (NCDs) at a coupon rate of 6.52%. The issuance will be done via private placement to select investors. Each debenture will carry a face value of ₹1,00,000.
The issue consists of a base size of ₹500 crore, with a green-shoe option of ₹250 crore, allowing for additional subscriptions if required. These unsecured, taxable, redeemable, non-cumulative NCDs will be listed on the Bombay Stock Exchange (BSE) and are set to be redeemed at face value after three years. Interest on the bonds will be paid annually, offering fixed-income potential to institutional participants.
Before we head to HUDCO share price, lets understand the growth and profitability figures of the company:
In FY 2024-25, HUDCO recorded revenue from operations of ₹10,311.29 crore, growing 32.46% year-on-year. Net profit rose to ₹2,709 crore, a 28% increase from ₹2,117 crore in FY 2023-24. Its loan book expanded 55% YoY to ₹1,24,828 crore. Annual revenue growth of 30.2% significantly outpaced its 3-year CAGR of 13.78%.
Ratio | FY 2025 | FY 2024 |
Return on Equity (%) | 15.07 | 12.74 |
Return on Capital Employed (%) | 8.18 | 12.91 |
Return on Assets (%) | 2.10 | 2.26 |
Interest Coverage Ratio (x) | 1.54 | 1.58 |
Price to Earnings (x) | 14.75 | 17.73 |
Price to Book (x) | 2.22 | 2.26 |
EV/EBITDA (x) | 14.16 | 14.22 |
EBITDA Margin (%) | 100.80 | 100.38 |
In Q4 FY25, HUDCO posted a net profit of ₹727.74 crore, up 4% YoY. Quarterly revenue rose 37.8% YoY to ₹2,844.99 crore. Net Interest Income (NII) for the quarter stood at ₹962 crore, marking a 26% increase. For the full year, net profit grew 28% to ₹2,709 crore, and revenue reached ₹10,311.29 crore. Its loan book expanded significantly to ₹1,24,828 crore, a 55% rise over the previous year.
Here’s how the HUDCO share price has changed over time:
HUDCO’s Return on Equity over the past five years was 15.07%, 12.74%, 11.01%, 11.86%, and 11.96%, respectively. Over the last 3 years, the HUDCO share price has delivered a return of 580.56%, compared to Nifty 50’s return of 50.77%. This shows strong historical growth, though returns may vary based on market cycles.
In the past year, HUDCO’s share price touched a high of ₹353.70 on 11th July 2024 and a low of ₹158.85 on 3rd March 2025. This wide range indicates market volatility and changing investor sentiment. HUDCO share price is influenced by funding updates, government infrastructure budgets, and bond issuances.
Pros:
Backed by the Government of India and AAA CARE rating ensures trust
Strong presence in housing and infrastructure finance
Navratna and NBFC-IFC status provides more financing flexibility
High dividend payouts
Cons:
Exposure to regulatory and policy shifts
Loan book concentration risks
High debt-to-equity ratio
Vulnerability to delays in government project execution
Here’s a quick look at HUDCO’s key valuation metrics:
Metric | Value |
P/E Ratio (x) | 16.52 |
EPS (TTM) | ₹13.53 |
ROE | 15.07% |
ROCE | 8.18% |
P/B Ratio | 2.7 |
Debt-to-Equity | 5.97 |
Book Value | ₹89.8 |
Face Value | ₹10 |
Dividend Yield | 1.86% |
Category | Share (%) |
Promoters | 75.00 |
FII | 2.46 |
DII | 9.69 |
Mutual Funds | 1.63 |
Others | 12.85 |
Pledged Shares | 0.00 |
HUDCO competes with other players in the housing finance and infrastructure space. Let's see how HUDCO share prices and performance measure up to competitors:
Company | Price (₹) | MCap (Cr) | P/E | P/B | ROE (%) | 1-Yr Return (%) |
HUDCO | 223.61 | 44,764.49 | 16.53 | 2.61 | 15.07 | -20.34 |
HDFC | 2,729.95 | 5,05,430.17 | 31.12 | 3.77 | 12.12 | 25.96 |
Bajaj Housing | 120.42 | 1,00,337.97 | 46.32 | 5.34 | 10.84 | - |
LIC Housing Fin | 604.00 | 33,223.81 | 6.10 | 0.99 | 14.97 | -19.34 |
PNB Housing Fin | 1,057.50 | 27,500.34 | 14.20 | 1.73 | 11.48 | 22.28 |
HUDCO holds a unique position as a government-backed, infrastructure-focused NBFC-IFC. Its Navratna status, strong dividend history, and role in national infrastructure projects make it a key player in India’s urban development landscape.
HUDCO is expected to play a major role in India's infrastructure expansion.
HUDCO plans to grow its loan book to ₹1.5 lakh crore by FY26. A recent MoU with MMRDA aims to fund ₹1.5 trillion in projects. The government's ₹97,000 crore urban infrastructure budget supports this growth. HUDCO is focusing on metro rail, smart cities, and affordable housing, setting it up for long-term expansion.
High demand vs limited capital: HUDCO often encounters more demand for affordable housing and infrastructure funding than the capital it has available, making it difficult to meet all project requirements across states.
Risks of NPAs from delayed projects: Delays in project execution or poor financial planning by borrowing agencies can result in loan defaults, increasing the risk of non-performing assets (NPAs) on HUDCO’s balance sheet.
Policy dependence and regulatory uncertainty: As a government-backed institution, HUDCO’s operations are closely tied to public policy. Sudden changes or delays in government schemes and regulations can affect project timelines and funding flows.
Regional development imbalances: Some regions may receive more funding and project support than others, leading to unequal urban development and missed opportunities in underdeveloped areas.
Pressure to adopt sustainable, eco-friendly methods: HUDCO is increasingly expected to incorporate environmentally sustainable practices, which often come with higher costs and more complex approval requirements.
Need for tech innovation in project delivery: To stay relevant and efficient, HUDCO must invest in modern technologies and digital tools, which requires both financial and technical capacity upgrades.
You can track the HUDCO share price in real-time on NSE and BSE using financial news platforms, broker apps, or investment tracking websites. These show price changes, trading volumes, and historical trends. For official announcements, visit the investor relations section on www.hudco.org. Monitoring regular financial filings helps investors stay updated.
HUDCO is a government-owned company, operating under the Ministry of Housing and Urban Affairs. It functions as a public sector enterprise with Navratna status and NBFC-IFC classification.
HUDCO is listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The stock can be traded under the symbol "HUDCO" on both platforms.
The face value of HUDCO shares is ₹10 per equity share. This is the nominal value used for accounting and dividend calculations.
There are no recent reports of HUDCO conducting a stock split or bonus issue. Historical actions can be verified on stock exchange filings or the company’s website.
HUDCO’s official website is www.hudco.org. For investor relations and queries, contact details are available under the “Contact Us” section on the website.
Yes, HUDCO regularly publishes financial reports, press releases, and investor presentations. These can be accessed from the investor relations section of its official website.
HUDCO is included in broader indices such as BSE 500, which track the performance of top listed companies across sectors in India.
HUDCO’s business model involves financing housing, infrastructure, and urban development projects across India. It earns revenue from loans, bond issuances, and consultancy services.
HUDCO mainly finances housing and urban infrastructure sectors, including affordable and social housing for weaker income groups, retail and institutional housing finance plus urban infrastructure like water supply, sewerage, roads, power and social facilities.
Its major clients or beneficiaries are State Governments and their agencies, municipal bodies, public sector undertakings and, through on-lending, low, middle and economically weaker households for housing and urban projects.
HUDCO supports housing schemes such as urban and rural housing finance, co-operative and staff housing, HUDCO Niwas retail loans, slum upgradation and community infrastructure, aligning with government initiatives to promote affordable homes.
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All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing
MTF
As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).
US INVESTING
International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.
IPO
This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.
SCREENERS
Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform.
SECURITIES
Securities quoted are exemplary and not recommendatory.
IPV
Account would be open after all procedure relating to IPV and client due diligence is completed.
IMAGES
The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.
THIRD PARTY PRODUCT DISCLAIMER
Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.
As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.
