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Housing and Urban Development Corporation LimitedFinancing InfrastructureB e y o n d H o u s i n gFinancing InfrastructureB e y o n d H o u s i n g Investors Presentation & Performance Highlights Q1FY26Investors Presentation & Performance Highlights Q1FY26 (A Govt. of India Enterprise)
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Financing Infrastructure Beyond Housing TABLE OF CONTENT 01HUDCO, A UNIQUE Institution02OPERATIONAL PerformanceFINANCIAL performance•Borrowing Profile•Asset Quality •Key Financial Highlights 0304SECTOR Outlook & Opportunities
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Financing Infrastructure Beyond Housing 3 More than 5 decade of expertise as techno-financial institution.A Public Financial Institution providing Financing, Consultancy and CapacityBuilding support – entire landscape of Housing and Infrastructure projects.Multi sectoral focus with strong relationship with State Govts. & its agencies.Strategic Partner in supplementing efforts of Govt. of India – PMAY 2.0, Smart City,AMRUT, Swachh Bharat, Jal Jeevan Mission, etc.Listed company with 75% ownership of Govt. of India.A Navratna CPSE registered as NBFC-IFC with Reserve Bank of India.Consistently profit-making company with the motto of “Profitability with SocialJustice”
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Financing Infrastructure Beyond Housing 4 •Public Issue of Tax Free Bonds•2015-16 Credit Rating upgraded to “AAA”•2017: Public Listing of 10.19%•Consistent ‘Excellent’ MoU rating2010-2020•1970: HUDCO incorporated as Development Institution•1stHFC in Public Sector•Equity of ₹2 Crore1970-1980•1985: HSMI •1989: Urban Infra window1980-1990•1998: Key role in 2MHP •1999-2000: PM’s award for top 10 PSUs•1996: Public Financial Institution (PFI)1990-2000•2000: HUDCO Niwas•2001: Authorized Capital increased to ₹2500 Crore •2002: Schedule-A •2004: Miniratna-I 2000-2010•2023-24: Public holding increased to 25%.2024-25: -Accorded Navratna Status-Registered as NBFC-IFC-Excellent MoU rating FY24-All time high dividend of ₹830.79 Crore (₹4.15/share) 2025-26: -54EC Capital gain Tax Exemption Bonds-Zero Coupon Bonds2020- till date Miniratna-IIMiniratna-INavratnaNavratna Status: Accorded in April, 2024•2ndhighest recognition for PSUs in India Benefits•Reinforce role in mitigating funding gap for infrastructure development•Expand horizon thru focus on infra sectors
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Financing Infrastructure Beyond Housing 5 Corporate / Registered Office : New DelhiMultisectoral focus thru21 Regional Offices and11 Development Offices across IndiaLast miles delivery of services in North-East IndiaTraining & Research arm - Human SettlementManagement Institute (HSMI) at New DelhiEmployee strength (as on Jun, 2025)- 607 (Enabling - Business Diversification, Enhanced Brand Recognition, Robust partnership with State Govts. & investor outreach)Diverse pool of Professionals FINANCE ENGINEERS ECONOMIST HR & IT LEGAL TOWN PLANNERS ARCHITECTS70%30%Vijayawada
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Financing Infrastructure Beyond Housing 6 Pan-India Presence, StrongRelationships with StatesStrong Asset Quality -Lowest NPA and high Provision Coverage RatioHighest Credit Ratings: Domestic-AAAInternational-SovereignKey Role in Various Schemes of Govt. of India - PMAY , JJM etc.Strong Financial Ratios -consistent ProfitabilityOne Stop Solution Provider Financing Consultancy & Capacity Building
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Financing Infrastructure Beyond Housing 7 FINANCING•Affordable Housing•Infrastructure:Social Infra- Hospital, Govt.Bldg, Water Supply;Commercial Infra – Roads, Highways, Urban Mobility , Ports, Energy•LandAcquisitionCONSULTANCY•Architectural•Urban & Regional Planning•Appraisal & Monitoring •Asset Monetization•Environmental StudiesCAPACITY BUILDING•Training of professionals / In-house employees•Domestic & International T raining Programmes•Supports Research in urbansector .GOI SCHEMES•CounterpartFunding•PMAY- Urban and Rural•Smart City•AMRUT•Swachh Bharat Mission•Jal Jeevan MissionBorrowing Partners: Central/State Govts., State Public Agencies, ULBs and Specialized Entities
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Financing Infrastructure Beyond Housing 8 •Impactful CSR -₹ 52.72 Cr spent (FY25) •Support to social infra•Employee Safety, Pay Equity & Grievance Redressal•Workforce diversity – 30% women workforce •Substantial procurement from MSMEs•ZERO complaints on Human Rights and POSH •Independent and Healthy Board Structure•Women representation in Board: 12.50%•Transparency with adequate disclosure and assurance•Board approved ESG Policy•Experienced Leadership•70.85% Employee Training Coverage •Sustainable lending -₹13,555 Cr towards RE & Net ZERO•Low environmental impact of operation•Disposal of e-waste thru authorized vendors•Streamlining Processes thru Paperless Solutions•Gradual conversion of conventional office fleets to EVsEnvironmental ResponsibilitySocial ImpactCorporate GovernanceESG Rating18.2 (Low Risk) 54 (Adequate)
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Financing Infrastructure Beyond Housing 9 •Stronger Lending Capacity•Trusted by Borrowers•Global Financial Credibility•Low-Risk Profile BBB+ (Stable) BBB- (Stable) Baa3 (Stable) Ind AAA (Stable) AAA (Stable) AAA (Stable)
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Financing Infrastructure Beyond Housing 10 President of India, 75.00%Mutual Fund/AIF, 2.21%Insurance Companies, 8.05%FPIs/FIIs, 1.96%Individuals/HUFs, 12.07%Corporates, 0.71% 21.75%35.00%38.50%41.50%41.50%20%30%40%50%FY21 FY22 FY23 FY24 FY25(435.41)(700.66)(770.73)(830.79)(₹ Crore)(830.79)Dividend Payout Ratio (%)* 11.50% Interim Dividend (₹1.15 per share) declared for Q1FY26 Top 10 Shareholders Shareholding %Name54.27The President of India thru MoHUA20.73The President Of India thru MoRD7.08LIC of India0.78ICICI Prudential Life Insurance Co. Ltd.0.55HSBC Small Cap Fund0.36Vanguard Total International Stock Index Fund0.33Vanguard Emerging Markets Stock Index Fund0.27Government Pension Fund Global0.24Kotak Equity Arbitrage Fund0.22HDFC Trustee Company Ltd. -Balanced Advantage Fund
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Financing Infrastructure Beyond Housing 11 8,658.22 37,485.58 39,927.90 47,557.14 08,00016,00024,00032,00040,00048,00056,00031-Mar-23 28-Mar-24 28-Mar-25 30-Jun-25Growth – over 5 times sinceMar’23•Amongst top 200 Companies by Market Cap•HUDCO shares also traded in derivatives market Market Capitalisation(₹Crore) Earning Per Share ₹ 12.60 (Annualized)Book Value Per Share ₹ 88.20
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Financing Infrastructure Beyond Housing 12 Growth Trajectory Loan Portfolio Category wise Sanctions Category wise Disbursements
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Financing Infrastructure Beyond Housing 13 24,572 82,387 1,27,952 FY23FY24FY25(235% )(55% ) 14,097 34,224 Q1FY25Q1FY26(143% )`` 12,62512,812Q1FY25 Q1FY26 8,46617,98740,038FY23 FY24 FY25LOAN SANCTIONS (₹ in Crores)YoYQoQ 80,74392,6541,24,828FY23 FY24 FY25(15% )(35% )``1,03,8151,34,410Q1FY25Q1FY26(30% ) 2,1792,925Q1FY25 Q1FY26(34% ) 6,9837,65310,200FY23 FY24 FY25(10% )(33% )LOAN DISBURSEMENT(₹ in Crores) LOAN OUTSTANDING (₹ in Crores)INTEREST INCOME (₹ in Crores)(112% )(122% )(1.48% )YoYYoYYoYQoQQoQQoQ
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Financing Infrastructure Beyond Housing 14 Q1FY25FY24FY23Particulars(₹ in Crores)FY26FY2587,25360,04776,33349,14336,982Urban Infrastructure47,15743,76848,49543,51143,761Affordable Housing1,34,4101,03,8151,24,82892,65480,743Total1,32,5161,01,5881,22,92090,34278,267Government1,8942,2271,9082,3122,476Private45.80%53.04%61.15%64.92%54.20%46.96%38.85%35.08%0.00%25.00%50.00%75.00%100.00%FY23 FY24 FY25 Q1FY26URBAN INFRASTRUCTUREAFFORDABLE HOUSING96.93%97.50%98.47%98.59%3.07%2.50% 1.53%1.41%0.00%25.00%50.00%75.00%100.00%FY23 FY24 FY25 Q1FY26GOVERNMENTPRIVATEAffordable Housing portfolio to increase with PMAY 2.0
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Financing Infrastructure Beyond Housing BORROWING PROFILEASSET QUALITYKEY FINANCIAL HIGHLIGHTS
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Financing Infrastructure Beyond Housing 16 12MQ1CategoryAverage CostFY24Average CostFY25Average CostFY25Average CostFY267.48%1,500.007.28%14,768.507.48%1,936.006.85%5,372.22Taxable BondsBank / FI Loans7.32%6,654.567.21%4,555.687.29%5,562.506.24%11,992.11*- Short Term7.55%9,002.507.47%10,067.007.61%8,192.00--- Medium Term5.96%3,990.186.06%15,563.346.29%1,668.20--- FCNR(B)5.29%827.855.70%6,178.875.43%796.655.73%2,974.20Foreign Currency7.10%21,975.136.75%51,133.397.28%18,155.356.32%20,338.53Total (₹ in Crore) Raised ₹ 20,338.53 Crore in Q1 of FY26 as compared to ₹ 18,155.35 Crore in the corresponding Q1 FY25.* Raised towards quarter end, now being replaced with alternate mid/long term sources at a market opportune time
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Financing Infrastructure Beyond Housing 17 Access to multiple sources of funding with a mix of international and domestic sources to meet the business growth Access to multiple sources of funding with a mix of international and domestic sources to meet the business growth Avg Cost of BorrowingsQ1FY25Avg Cost of BorrowingsQ1FY26Particulars8.47%20,000.008.47%20,000.00A. GoI fully Serviced BondsB. Others8.04%12,372.388.04%12,372.38Tax Free Bonds6.93%11,746.007.24%26,650.70Taxable Bonds*Bank Loans7.29%5,562.506.24%11,992.11- Short Term7.53%27,615.056.50%21,188.98- Mid TermForeign Currency Loans6.06%5,658.386.83%13,895.14- FCNR(B)5.50%1,690.735.73%10,037.77- ECB/ODA5.06%542.455.18%292.33Refinance Assistance from NHB/ other FI7.30%65,187.486.83%96,429.41Sub-Total (B)7.57%85,187.487.11%1,16,429.41Grand Total (A+B) Refinancing, 0.25%(₹ in Crore) *Incls. Capital Gain Bonds launched on 7-May-2025
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Financing Infrastructure Beyond Housing 18 Judicious mix of borrowingsthrough various sources, bothDomestic and International, based on ALM profile.Strategicincrease in domestic borrowingsto capitalize onthe prevailing low interest rate regime.Established International footprints -ECB borrowings of ¥174 Billion (₹ 9,980.92 Crore) for tenor of 5 years @ 5.73%.Exploringvarious other geographies, including possibility ofraising USD / EURO / YEN loans/bonds.Multilateral fundingpartnerships for infra development.Setting up ofGMTN programfor sourcing funds frominternational capital market thru maiden bond offeringStrengtheninginternal control mechanismto addresscurrency risk with hedge/protection at appropriate levelsAllocation of 54EC Capital Gain Bonds & ZCB7.57%7.11%7.28%6.45%*6.00%6.20%6.40%6.60%6.80%7.00%7.20%7.40%7.60%7.80%8.00% Q1FY25 Q1FY26 Cost of BorrowingsOverallIncremental* Excl. cost of Short Term Borrowings
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Financing Infrastructure Beyond Housing 19 3.42%2.71%1.67%1.34%0.52%0.36%0.25%0.09%0.00%1.00%2.00%3.00%4.00%5.00%FY23 FY24 FY25 Q1FY26Gross NPANet NPABest in the IndustryRobust appraisal and monitoringmechanismPeriodic review of policies and procedures- in line with best market practicesLoans to Govt. & its agencies: 98.59% ofthe loan book consists of loan to Govt. andits agenciesGovt. Guaranteed loans: majority of theloans are backed by State GovernmentGuarantee.Adequate Provision Coverage Ratio (%)1 85.24%86.87%85.44%93.49%80%84%88%92%96%100%FY23 FY24 FY25 Q1FY261. PROVISION COVERAGE RATIO REFLECTS THE RATIO OF PROVISION CREATED AGANST NPA LOANS Steady.. Focused.. almost thereZero NNPA
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Financing Infrastructure Beyond Housing 20 Gross NPA ₹ 1795.61 Crore, Net NPA ₹ 116.89 Crore, Provision coverage 93.49%•₹1,157.11 Crore •08 No. of Accounts•Provision made – 100%•₹1,157.11 Crore •08 No. of Accounts•Provision made – 100%Consortium ProjectsConsortium Under NCLT Resolution•₹1122.13 Crore •05 No. of Accounts•Provision made – 100%•₹1122.13 Crore •05 No. of Accounts•Provision made – 100%Suit Filed Cases/ DRTSuit Filed Cases/ DRT•₹419.89 Crore •Top 10: ₹ 280.12 Crore (66.71%) •Provision made – 100%•₹419.89 Crore •Top 10: ₹ 280.12 Crore (66.71%) •Provision made – 100%•1 Long pending NPA A/c resolved during Q1FY26 - ₹277.68 Cr and 4 NPA A/cs technically written off- ₹7.27 Cr.•Recovery of ₹303.06 Cr has been made from NPA A/cs incl. recovery of ₹298.98 Cr from 4 Govt. Agencies.•1 Long pending NPA A/c resolved during Q1FY26 - ₹277.68 Cr and 4 NPA A/cs technically written off- ₹7.27 Cr.•Recovery of ₹303.06 Cr has been made from NPA A/cs incl. recovery of ₹298.98 Cr from 4 Govt. Agencies.Non-Consortium ProjectsOutside NCLT (Consortium Projects)Outside NCLT (Consortium Projects)•₹34.98 Crore •03 No. of Accounts•Provision made – 100%•₹34.98 Crore •03 No. of Accounts•Provision made – 100%•₹29.78 Crore•02 No. of Accounts•Provision made – 100%•₹29.78 Crore•02 No. of Accounts•Provision made – 100%NCLTNCLT
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Financing Infrastructure Beyond Housing 21 Net Profit₹ 630.23 Cr.Vs.₹ 557.75 Cr.(13% )Sanctions₹ 34,224 Cr .Vs ₹ 14,097 Cr .(143% )DisbursementsHighest Ever Quarterly Disbursement of ₹12,812 Cr . Loan BookHighest Ever Loan Book of ₹1,34,410 Cr .(29% )Operational Income₹ 2,937.31 Cr.Vs ₹ 2,188.35 Cr.(34.22%)Asset QualityGNPA: 1.34%NNPA: 0.09%One of the Best in the Industry HIGHEST EVER QUARTERLY HIGHEST EVER QUARTERLY CRAR41.72% Well capitalized for future growthProvision CoverageRatio93.49% Strong Risk Protection
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Financing Infrastructure Beyond Housing 22 12 MONTHSQ1ParticularsFY24(Audited)FY25(Audited)FY25(Audited)FY26(Audited)Income:7,784.2910,311.292,188.352,937.31- Revenue from Operations163.8137.098.848.16- Other Income7,948.1010,348.382,197.192945.47Total Income (1)Expenses:4,963.946,750.111,463.831,978.26- Finance Cost348.81372.1167.35212.93- Other Cost(208.09)(410.50)(18.69)(102.95)- Impairment of Financial Instruments5,104.666,711.721,512.492,088.24Total Expenses (2)2,843.443,636.66684.70857.23PROFIT BEFORE TAX {3= (1-2)}726.70927.52126.95227.00Tax Expense (4)2,116.742709.14557.75630.23NET PROFIT AFTER TAX {5 = (3-4)} (₹in Crore)
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Financing Infrastructure Beyond Housing 23 FY2025Q1FY25Q1FY26ParticularsExcl. EBRIncl. EBRExcl. EBRIncl. EBRExcl. EBRIncl. EBR1,04,8281,24,82883,8151,03,8151,14,4101,34,410Loan Portfolio (₹ Crore)9.65%9.50%9.12%9.06%9.11%9.08%Yield on Loan (%) 7.15%7.44%6.99%7.36%6.76%7.07%Cost of Funds (%)2.49%2.06%2.13%1.70%2.35%2.01%Interest Spread (%) 3.86%3.22%3.68%3.00%3.40%2.94%Net Interest Margin (%)5. Interest coverage ratio is calculated by dividing Earnings before interest and tax by finance cost.6. Debt equity ratio is calculated by dividing total debt by equity. 7. Return on equity is calculated by dividing the profit after tax for the period by shareholders’ fund at the end of the period, expressed as a percentage.8. Return on average assets (after tax) is calculated by dividing the PAT for the period by average total assets.FY2025Q1FY25Q1FY26Particulars1.541.471.43Interest Coverage Ratio (times)5.724.935.93Debt Equity Ratio (times)2.442.241.89Return on Assets (%) (Annualized)15.0812.9214.28Return on Equity (%) (Annualized)17,969.7817,273.5417,655.92Net Worth (₹ Crore)17,292.0416,943.9217,812.85Average Net Worth (₹ Crore)89.7686.2888.20Book Value in ₹ per Share of ₹ 1013.5311.1612.60Earning per Share (EPS-Annualized) in ₹1. Yield on loan is calculated by dividing interest income (including interest received on settlement of NPA cases) on loan assets by average loan assets.2. Cost of funds is calculated by dividing interest expenses by average total borrowings.3. Interest spread is difference between yield on loan and cost of funds.4. Net interest margin is calculated by net interest income on interest earning assets by average interest earning assets
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Financing Infrastructure Beyond Housing 24
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Financing Infrastructure Beyond Housing 25 Source: CRISIL Intelligence Report 2025 In Rs. Lakh Crore
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Financing Infrastructure Beyond Housing 26 Land Acquisition, Integrated Township & Industrial CorridorsMobility – Metro, Expressways etc.Smart Cities, AMRUT, JJM, SBM 2.0Health Infrastructure, Green Infrastructure & Energy TransitionPort Financing (Seaport & Airport) The Government’s vision for marching towards $10trillion economy by 2030 and Viksit Bharat by 2047 ispoised togenerate huge demand of funding for infradevelopment with initiatives like:PMAY 2.0incl. Housing for industrial workers •HUDCO to play a vital role in achieving the vision of GoI thru lending for entire landscape of infra projects•Initiated process to commence lending against Private Sector projects.
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Financing Infrastructure Beyond Housing 27 Initial Screening•Urban Challenge Fundof ₹ 1 Lakh Crore:•Fund to finance up to 25 per cent of the cost ofbankable projects, subject to at least 50 per cent ofthe cost is funded from bonds, bank loans, and PPPs•₹ 10,000 Crore allocated for 2025-26.Purpose:•‘Cities as Growth Hubs’•Orderly development of peri-urban areas througheconomic and transit planning;•Creative brownfield redevelopment of existingcities;•Water supply, sewage treatment and solid wastemanagementprojects and services for 100 largecitiesFund Mgmt: Central , State, Debt from Banks/ FIsDPR PreparationMonitoring HUDCO is focused to play critical role in implementation and operationalization of UCF.
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Financing Infrastructure Beyond Housing 28 MoU with MMRDA for financial assistance of ₹1.5 Lakh Crore over the next 5 years MoU with MP Govt. for financial assistance of ₹1 Lakh Crore over the next 5 years ₹ 1 Lakh Crores MoU with Rajasthan for Housing & Infrastructure projects 3rd tranche of ECB to secure optimum cost resources ₹11,000 Cr loan agreement with CRDA for construction of new state capital Launch of HUDCO 54EC Capital Gain Tax Exemption Bonds
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Financing Infrastructure Beyond Housing 29 17thBML Munjal Award for Business Excellence ETNOW Infra Focus Awards 2024: Infrastructure Sector (Housing)Governance Now 11th PSU Awards: PSU & CSR LeadershipWCDM Award 2024: ‘Good Practices in Rescue and Rehabilitation’Prithvi Award 2024: sustainable development and CSR initiatives PSE Excellence Award 2025 for Enterprise ApplicationGovernance Now-10th PSU IT Award: Excellence in Software DevelopmentAsset Triple A Awards: Best sustainability loan (ESG) in South Asia Recognition by Hon’ble CM, Maharashtra for Financial support for road infrastructure नराकास िदʟी उपŢम-2: उǽृʼ ŮदशŊन हेतु HUDCO
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Financing Infrastructure Beyond Housing 31 30 Thank You Head Office:HUDCO Bhawan, Core-7-A, India Habitat Centre, Lodhi Road, New Delhi - 110 003Financing Infrastructure Beyond Housing