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HUDCO declares dividend of Rs 150 crore

NEW DELHI: HUDCO today declared a dividend of Rs 150 crore, its highest collection so far, to the Housing and Urban Poverty Alleviation Ministry. 

V P Baligar, CMD, Housing and 
Urban Development Corporation Ltd (HUDCO) presented a dividend cheque of Rs. 103.78 Crore to Minister for Housing and Urban Poverty Alleviation Girija Vyas. 

"For the financial year 2012-13, HUDCO has declared a total dividend of Rs 150 crore which is the highest ever payment of dividend to the Government of India by HUDCO," the organisation said in a statement. 

Of this amount, Rs 103.78 is payable to Ministry of Housing & Urban Poverty Alleviation, Rs 15.12 crore to Ministry of Urban Development and Rs 31. 10 crore to the 
Ministry of Rural Development. 

Vyas complimented HUDCO officers for the several achievements made during 2012-13. 

She said HUDCO has registered net profit (after tax) of Rs 700 crore during the above period and it has sanctioned project work of Rs. 23,974 Crore. 

"Against the target of sanctioning of 3.66 lakhs units, HUDCO sanctioned 4.39 lakh units. 97 per cent of the units sanctioned were from Economically Weaker Sanction (EWS)/Lower Income Group (LIG)," Vyas said.