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F i n a n c i n gInfrastructure for Viksit Bharat Investors Presentation & Performance Highlights Q3FY26
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Financing Infrastructure for Viksit Bharat 03 02 04 Table of Content A UNIQUE Institution OPERATIONAL Performance FINANCIAL performance SECTOR Outlook & Opportunities REPURPOSING Efforts 03 01 05
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Financing Infrastructure for Viksit Bharat 3 Hudco - A Unique institution ➢ More than 5 decade of expertise as techno-financial institution. ➢ A Public Financial Institution providing Financing, Consultancy and Capacity Building 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 Social Justice”
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Financing Infrastructure for Viksit Bharat 1970-80 1980-90 1990-00 2000-10 2010-20 Post 2020 • 1970: Incorporated as Development Institution • To address India's housing shortage INCEPTION & PIONEERING • Key role in 2MHP • PM’s award for top 10 PSUs ELEVATED MANDATE- GOVT. RECOGNITION • Credit Rating : “AAA” • Public Iss.: Tax Free Bonds • IPO ENHANCED MARKET STANDING • 1985: HSMI • 1989: Urban Infra window DIVERSIFICATION • Auth. Capital- ₹2,500 Cr • 2002: Schedule-A • 2004: Miniratna-I MINIRATNA ACCREDITATION • Navratna & NBFC IFC • Exponential Growth • Massive return to SHs • 54 EC Bonds & ZCBs BREAKTHROUGH & WEALTH CREATION Major Milestones : HFC to IFC • Launch of Urban Invest Window (UiWIN) REPURPOSING OF HUDCO 2025 “Excellent” MoU rating for the second consecutive year (FY24 and FY25) ➢ Ahead of many of its peers ➢ Consistent operational & financial excellence
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Financing Infrastructure for Viksit Bharat 5 Pan-India Presence (Enabling - Business Diversification, Enhanced Brand Recognition, Robust partnership with State Govts. & investor outreach) 70%30% Vijayawada Diverse pool of Professionals FINANCE ENGINEERS ECONOMIST HR & IT LEGAL TOWN PLANNERS ARCHITECTS ➢ Corporate / Registered Office : New Delhi ➢ Multisectoral focus through 20 Regional Offices and 11 Development Offices ➢ Training & Research arm - Human Settlement Management Institute (HSMI) at New Delhi ➢ Employee strength (as on Dec, 2025)- 581
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Financing Infrastructure for Viksit Bharat 6 Key Strengths Strong Asset Quality • Lowest NPA • High Prov. Coverage Ratio • Pan-India Presence • Strong Relationships with States Highest Credit Ratings: • Domestic-AAA • International-Sovereign Key Role in Govt. of India Programs/ Missions • Strong Financial Ratios • Consistent Profitability One Stop Solution: • Financing • Consultancy • Capacity Building
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Financing Infrastructure for Viksit Bharat 7 FINANCING • Affordable Housing • Infrastructure: ➢ Social Infra- Hospital, Govt. Bldg, Water Supply; ➢ Commercial Infra – Roads, Highways, Urban Mobility , Ports, Energy • Land Acquisition CONSULTANCY • Architectural • Urban& Regional Planning • Appraisal & Monitoring • AssetMonetization • Environmental Studies CAPACITY BUILDING • Training of professionals / In -house employees • Domestic& International T rainingProgrammes • SupportsResearchin urban sector . GOI SCHEMES Counterpart Funding • PMA Y- Urban and Rural • Smart City • AMRUT • Swachh Bharat Mission • Jal Jeevan Mission 360o Partnership for Sustainable Asset Creation Borrowing Partners: Central/State Govts., State Public Agencies, ULBs and Specialized Entities
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Financing Infrastructure for Viksit Bharat 8 ESG at HUDCO – Building a Sustainable Tomorrow • Sustainable lending* : ➢ ₹ 19,931 Cr - RE & Net ZERO ➢ ₹ 23,664 Cr - Sanitation, Sewerage etc. • Low environmental impact of operation • Transition to Paperless • Office fleet : Gradual EV transition • Impactful CSR - ₹ 52.72 Cr (FY25) • EWS & Aff. Housing* - ₹ 11,051 Cr • Workplace Safety & Grievance Redressal • Substantial procurement - MSMEs • 44 CTUs adopted:Swachhta Hi Sewa • Inclusivity for PwDs • Independent & Healthy Board • Board Diversity (Women): 12.5% • Experienced Leadership • 66.44% Employee Training Coverage • Stakeholder engagement • Transparent and IT driven operations ESG Rating 18.2 (Low Risk) 58 (Adequate) 50 (Stable) ESG Report 2024-25 *from 01.01.24 to till date
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Financing Infrastructure for Viksit Bharat 9 Highest Credit Ratings (incl. Capital Gain Tax Exemption Bonds) BBB+ (Stable)Ind AAA (Stable) AAA (Stable) AAA (Stable) Domestic - AAA International - Sovereign Baa3 (Stable) BBB- (Stable) • Global Financial Credibility • Low-Risk Profile • Stronger Lending Capacity • Trusted by Borrowers
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Financing Infrastructure for Viksit Bharat 10 Shareholders Prospect as on 31-DEC-2025 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 (%) 33.00% Interim Dividend (₹3.30 per share) declared upto 9MFY26 Top 10 Shareholders Name Shareholding % Govt. of India 75.00 LIC of India 7.39 HSBC Small Cap Fund 0.81 ICICI Prudential Life Insurance Co. Ltd. 0.73 Aditya Birla Sun Life Trustee Private Limited 0.42 Vanguard Total International Stock Index Fund 0.37 Vanguard Emerging Markets Stock Index Fund 0.34 Government Pension Fund Global 0.27 Bank of India Small Cap Fund 0.23 MKT Capital LP 0.20 Govt. of India, 75.00% Mutual Fund/AIF, 3.00% Insurance Companies, 8.46% FPIs/FIIs, 1.97% Individuals/HUFs, 11.03% Corporates, 0.54%
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Financing Infrastructure for Viksit Bharat 11 Rising market capitalisation & investor confidence 8,658.22 37,485.58 39,927.90 45,669.34 0 8,000 16,000 24,000 32,000 40,000 48,000 31-Mar-23 28-Mar-24 28-Mar-25 31-Dec-25 Growth – over 5 times since Mar’23 • Amongst top 200 Companies by Market Cap • HUDCO shares also traded in derivatives market Market Capitalisation (₹ Crore) Earning Per Share ₹ 13.67 (Annualized) Book Value Per Share ₹ 93.64
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Financing Infrastructure for Viksit Bharat 12 Growth Trajectory Loan Portfolio Category wise Sanctions Category wise Disbursements Operational Performance
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Financing Infrastructure for Viksit Bharat 13 unmatched growth trajectory LOAN SANCTIONS (₹ in Crores) 80,743 92,654 1,24,828 FY23 FY24 FY25 (15% ) (35% ) ` ` 1,18,931 1,55,631 9MFY25 9MFY26 7,379 9,54 1 9MFY25 9MFY26 6,983 7,653 10,200 FY23 FY24 FY25 (10% ) (33% ) LOAN DISBURSEMENT(₹ in Crores) LOAN OUTSTANDING (₹ in Crores) INTEREST INCOME (₹ in Crores) YoY YoY 24,572 82,387 1,27,952 FY23 FY24 FY25 (235% ) (55% ) 92,151 1,39,152 9MFY25 9MFY26 31,760 41,347 9MFY25 9MFY26 8,466 17,987 40,038 FY23 FY24 FY25 YoY (112% ) (122% ) YoY
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Financing Infrastructure for Viksit Bharat 14 Particulars (₹ in Crores) FY23 FY24 FY25 9M FY26 FY25 Urban Infrastructure 36,982 49,143 76,333 1,02,827 71,153 Affordable Housing 43,761 43,511 48,495 52,804 47,778 Total 80,743 92,654 1,24,828 1,55,631 1,18,931 Government 78,267 90,342 1,22,920 1,53,835 1,16,914 Private 2,476 2,312 1,908 1,796 2,017 Loan Portfolio 45.80% 53.04% 61.15% 66.07% 54.20% 46.96% 38.85% 33.93% 0.00% 25.00% 50.00% 75.00% 100.00% FY23 FY24 FY25 9MFY26 URBAN INFRASTRUCTURE AFFORDABLE HOUSING 96.93% 97.50% 98.47% 98.85% 3.07% 2.50% 1.53% 1.15% 0.00% 25.00% 50.00% 75.00% 100.00% FY23 FY24 FY25 9MFY26 GOVERNMENT PRIVATE
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Financing Infrastructure for Viksit Bharat 15 ASSET QUALITY KEY FINANCIAL HIGHLIGHTS BORROWING PROFILE Financial Performance at a Glance
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Financing Infrastructure for Viksit Bharat 16 Category 9M 12M FY26 Average Cost FY25 Average Cost FY25 Average Cost FY24 Average Cost Taxable Bonds 10,331.39 6.80% 7,016.00 7.27% 14,768.50 7.28% 1,500.00 7.48% Bank / FI Loans - Short Term 3,888.76 5.77% 7,897.20 7.14% 4,555.68 7.21% 6,654.56 7.32% - Medium Term 36,665.87 6.30% 9,938.00 7.61% 10,067.00 7.47% 9,002.50 7.55% - FCNR(B) - - 9,720.97 5.96% 15,563.34 6.06% 3,990.18 5.96% Foreign Currency 2,974.20 5.98% 4,471.37 5.51% 6,178.87 5.70% 827.85 5.29% Total 53,860.22 6.34% 39,043.54 6.80% 51,133.39 6.75% 21,975.13 7.10% (₹ in Crore) Raised ₹ 53,860.22 Crore in 9M of FY26 as compared to ₹ 39,043.54 Crore in the corresponding 9M of FY25. Superior liability management – adding to margins
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Financing Infrastructure for Viksit Bharat 17 Access to multiple sources of funding with a mix of international and domestic sources to meet the business growth Diversified source of funds Particulars 9M-FY26 9M-FY25 FY25 FY24 A. GoI fully Serviced Bonds 20,000.00 20,000 20,000.00 20,000.00 B. Others Tax Free Bonds 11,083.88 12,372.38 12,372.38 12,372.38 Taxable Bonds* 31,609.89 16,826.00 23,578.50 9,810.00 Bank Loans - Short Term 3,888.69 7,897.20 4,555.68 6,654.56 - Mid Term 49,770.61 22,725.81 23,854.78 19,756.55 Foreign Currency Loans - FCNR(B) 5,842.37 12,212.83 15,563.34 3,990.18 - ECB/ODA 10,034.59 5,361.49 7,063.59 894.03 Refinance Assistance from NHB/ other FI 4,185.37 3,411.37 292.33 554.52 Sub-Total (B) 1,16,415.40 80,807.08 87,280.60 54,032.22 Grand Total (A+B) 1,36,415.40 1,00,807.08 1,07,280.60 74,032.22 Borrowing profile Refinancing, 3.07% (₹ in Crore) *Incls. Capital Gain Bonds launched on 7-May-2025 Short Term, 2.85%
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Financing Infrastructure for Viksit Bharat 18 ➢ Judicious mix of borrowings through various sources, both Domestic and International, based on ALM profile. ➢ Strategic increase in domestic borrowings to capitalize on the prevailing low-interest rate regime. ➢ Strengthening International footprints ▪ Fresh ¥ borrowings of 70 Billion (₹ 4,000 Crore) for tenor of 5 years. ▪ Exploring various other geographies, including possibility of raising USD / EURO / YEN loans/bonds. ▪ Setting up of GMTN program for sourcing funds from international capital market thru maiden bond offering ➢ Multilateral funding partnerships for infra development – finalized loan with KfW & in discussions with AIIB, World Bank. ➢ Strengthening internal control mechanism to address currency risk with hedge/protection at appropriate levels ➢ Raising funds through 54EC Capital Gain Bonds Efforts for cost optimization 7.46% 7.13% 6.80% 6.34% 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 9MFY25 9MFY26 Cost of Borrowings Overall Incremental
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Financing Infrastructure for Viksit Bharat 19 3.42% 2.71% 1.67% 1.08% 0.52% 0.36% 0.25% 0.06% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% FY23 FY24 FY25 9MFY26 Gross NPA Net NPA Best in the Industry Pristine Asset Quality – a competitive edge ◼ Robust appraisal and monitoring mechanism ◼ Periodic review of policies and procedures - in line with best market practices ◼ Loans to Govt. & its agencies: 98.85% of the loan book consists of loan to Govt. and its agencies ◼ Govt. Guaranteed loans: majority of the loans are backed by State Government Guarantee. Adequate Provision Coverage Ratio (%)1 85.24% 86.87% 85.44% 94.70% 80% 84% 88% 92% 96% 100% FY23 FY24 FY25 9MFY26 1. PROVISION COVERAGE RATIO REFLECTS THE RATIO OF PROVISION CREATED AGANST NPA LOANS Steady.. Focused.. almost there Zero NNPA
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Financing Infrastructure for Viksit Bharat 20 Credit Impaired Assets – Resolution/ recovery Status Gross NPA ₹ 1,676.49 Crore, Net NPA ₹ 88.77 Crore, Provision coverage 94.70% • ₹1,095.35 Crore • 07 No. of Accounts • Provision made – 100% Consortium Projects Consortium Under NCLT Resolution • ₹1,060.37 Crore • 04 No. of Accounts • Provision made – 100% Suit Filed Cases/ DRT • ₹403.88 Crore • Top 10: ₹ 280.12 Crore (69.36%) • Provision made – 100% • 7 Long pending NPA A/c resolved during 9MFY26 - ₹378.73 Cr and 9 NPA A/cs technically written off- ₹13.25 Cr. • Recovery of ₹378.83 Cr has been made from NPA A/cs incl. recovery of ₹343.25 Cr from 4 Govt. Agencies. Non-Consortium Projects Outside NCLT (Consortium Projects) • ₹34.98 Crore • 03 No. of Accounts • Provision made – 100% • ₹29.78 Crore • 02 No. of Accounts • Provision made – 100% NCLT
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Financing Infrastructure for Viksit Bharat 21 Net Profit ₹ 2,053.06 Cr. Vs. ₹ 1,981.40 Cr. (3.62% ) Sanctions ₹ 1,39,151.92 Cr . Vs ₹ 92,151 Cr . (51.00% ) Disbursements Highest Ever 9 Month Disbursement of ₹41,347 Cr . Loan Book Highest Ever Loan Book of ₹1,55,631 Cr .(1,18,931) (30.86% ) Operational Income ₹ 9,587.54 Cr. Vs ₹ 7,466.30 Cr. (28.41% ) Asset Quality GNPA: 1.08% NNPA: 0.06% One of the Best in the Industry Key Financial Highlights (9M FY26 Vs 9M FY25) HIGHEST EVER 9M CRAR 38.28% Well capitalized for future growth ProvisionCoverage Ratio 94.70% Strong Risk Protection
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Financing Infrastructure for Viksit Bharat 22 Standalone Statement of Profit & Loss Particulars Q3 9M 12 MONTHS FY26 (Reviewed) FY25 (Reviewed) FY26 (Reviewed) FY25 (Reviewed) FY25 (Audited) FY24 (Audited) Income: - Revenue from Operations 3,431.20 2.760.23 9,587.54 7,466.30 10,311.30 7,784.29 - Other Income 74.37 9.91 114.52 27.17 37.09 163.81 Total Income (1) 3,505.57 2,770.14 9,702.06 7,493.47 10,348.39 7,948.10 Expenses: - Finance Cost 2,394.57 1,762.83 6,519.88 4,888.68 6,750.11 4,963.94 - Other Cost 400.22 92.49 779.40 257.07 372.11 348.81 - Impairment of Financial Instruments (77.71) (16.84) (197.65) (268.68) (410.50) (208.09) Total Expenses (2) 2,717.08 1,838.48 7,101.63 4,877.07 6,711.72 5,104.66 PROFIT BEFORE TAX {3= (1-2)} 788.49 931.66 2,600.43 2,616.40 3,636.67 2,843.44 Tax Expense (4) 75.49 196.63 547.37 635.00 927.52 726.70 NET PROFIT AFTER TAX {5 = (3-4)} 713.00 735.03 2,053.06 1,981.40 2709.15 2,116.74 (₹ in Crore)
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Financing Infrastructure for Viksit Bharat 23 Key Indicators Particulars 9MFY26 9MFY25 FY2025 Incl. EBR Excl. EBR Incl. EBR Excl. EBR Incl. EBR Excl. EBR Loan Portfolio (₹ Crore) 1,55,631 1,35,631 1,18,931 98,931 1,24,828 1,04,828 Yield on Loan (%) 9.10% 9.14% 9.43% 9.56% 9.50% 9.65% Cost of Funds (%) 7.13% 6.87% 7.46% 7.16% 7.44% 7.15% Interest Spread (%) 1.97% 2.27% 1.97% 2.41% 2.06% 2.49% Net Interest Margin (%) 2.88% 3.30% 3.19% 3.85% 3.22% 3.86% 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/Net Worth (Total Debt represents Principal Outstanding). 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. Particulars 9MFY26 9MFY25 FY2025 Interest Coverage Ratio (times) 1.40 1.54 1.54 Debt Equity Ratio (times) 7.28 5.17 5.72 Return on Assets (%) (Annualized) 1.90 2.45 2.44 Return on Equity (%) (Annualized) 14.60% 14.71 15.08 Net Worth (₹ Crore) 18,744.90 17,965.59 17,969.78 Average Net Worth (₹ Crore) 18,357.34 17,289.95 17,292.04 Book Value in ₹ per Share of ₹ 10 93.64 89.74 89.76 Earning per Share (EPS-Annualized) in ₹ 13.67 9.90 13.53 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 finance cost 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 for Viksit Bharat 24
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Financing Infrastructure for Viksit Bharat 25 ➢ One-stop End-to-End Support Platform for ULBs in Developing Bankable Infrastructure Projects ➢ Transformative initiative - aiming to double urban investments in next 5 years ➢ Repurpose its pan India network of 20 Regional Offices, to act as State Urban Invest Window(s) ➢ Working closely with the State Government and the ULBs ➢ Identification of projects for technical & financial structuring, from capital mobilization to project implementation ➢ Build a pipeline of bankable, investment-ready urban projects ➢ Feasibility studies & assistance in securing finance - Multilateral Agencies (World Bank, KfW, ADB), FIs, Municipal Bonds, FDIs, etc. 1. Launch of Urban Invest Window https://www.hudco.org.in/writereaddata/National-Urban-Conclave.mp4
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Financing Infrastructure for Viksit Bharat 26 ➢ Promote financial self-reliance among smaller ULBs (population <1 lakh) ➢ HUDCO- Notified by MoHUA as Credit Guarantee Fund Manager for a ₹300 Cr corpus ➢ Provide handholding support to States/ULBs in identifying & implementing bankable projects 2. Credit Enhancement Initiative: AMRUT 2.0 ➢ Objective: support private sector in creation of Bankable Infrastructure Projects ➢ Initiated process to commence lending against PPP projects. ➢ Supplementing NIP 2.0 - targeting ₹17 trillion in investments. ➢ Board approved Guidelines for funding in the following sectors: 3. Launch of PPP project Finance Division Real Estate Sea Port Airport EnergyRoads
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Financing Infrastructure for Viksit Bharat 27 4. Urban Mobility ➢ Pool of funds (USD 1 Bn) to finance projects of Urban Mobility including Metro across the Country. ➢ Pool - mix of foreign and domestic sources, including Banks. ➢ Objective: to leverage HUDCO's intrinsic strengths and offer loans at market competitive rates. 5. Bridge Loan ➢ Objective - To ensure timely availability of matching contribution of State in GoI schemes/ programmes 6. Technical Assistance Scheme ➢ Grant for Project Formulation, Capacity Building and Institutional Development, Impact Assessment, R&D etc.
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Financing Infrastructure for Viksit Bharat 28 Sector outlook & Opportunities $ 10 Trillion Economy @ 2030 & viksit bharat @ 2047 (developed india @ 2047)
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Financing Infrastructure for Viksit Bharat 29 Infrastructure spending set to surge 1.6 times over next five years Source: CRISIL Intelligence Report 2025 In Rs. Lakh Crore
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Financing Infrastructure for Viksit Bharat 30 Land Acquisition, Integrated Township & Industrial Corridors Mobility – Metro, Expressways etc. Smart Cities, AMRUT, JJM, SBM 2.0 Health Infrastructure, Green Infrastructure & Energy Transition Port Financing (Seaport & Airport) The Government’s vision for marching towards $10 trillion economy by 2030 and Viksit Bharat by 2047 is poised to generate huge demand of funding for infra development with initiatives like: HUDCO’s Emerging Role – Drivers for Growth PMAY 2.0 incl. 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 lending against Private Sector projects.
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Financing Infrastructure for Viksit Bharat 31 “Viksit Pradesh” for Viksit bharat MoU with MMRDA for financial assistance of ₹1.5 Lakh Crore MoU with MP Govt. for financial assistance of ₹1 Lakh Crore ₹ 1 Lakh Crores MoU with Rajasthan for Housing & Infrastructure projects MoU with NMRDA for financial assistance of ₹11,300 Crore ₹1 Lakh Crore MoUs to Boost India’s Port Infrastructure Development ₹ 1 Lakh Crore MoU signed with Govt. of Chhattisgarh
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Financing Infrastructure for Viksit Bharat 32 Launch of Hindi Book jointly published by Home Ministry and HUDCO Launch of Private Sector Funding in Real Estate during NAREDCO event 3rd tranche of ECB to secure optimum cost resources Launch of HUDCO 54EC Capital Gain Tax Exemption Bonds MoU signing with NBCC to jointly develop HUDCO’s Properties Building the backbone of a viksit bharat MoU with NIUA for effective urban infrastructure development
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Financing Infrastructure for Viksit Bharat 33 Motivational honors 17th BML Munjal Award for Business Excellence ETNOW Infra Focus Awards 2024: Infrastructure Sector (Housing) Governance Now 11th PSU Awards: PSU & CSR Leadership WCDM Award 2024: ‘Good Practices in Rescue and Rehabilitation’ Prithvi Award 2024: sustainable development and CSR initiatives PSE Excellence Award 2025 for Enterprise Application Asset Triple A Awards: Best sustainability loan (ESG) in South Asia राजभाषा कीर्ति पुरस्कार 2024-25 5th PSU Transformation Award – Fastest Growing PSU HUDCO GRIHA Award for Consultancy Project
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Financing Infrastructure for Viksit Bharat 31 34 Thank You Head Office: HUDCO Bhawan, Core-7-A, India Habitat Centre, Lodhi Road, New Delhi - 110 003 Financing Infrastructure for Viksit Bharat