Housing & Urban Development Corporation Ltd

AGM details

• AGM held on 24 August 2026 at 11:30 IST via VC/OAVM.

Resolutions and outcomes

• Adopt Audited Financial Statements (standalone & consolidated) for FY2025-26. Outcome: deemed passed subject to votes.
• Declare final dividend 15% (Rs 1.50) for FY2025-26. Outcome: deemed passed subject to votes.
• Reappoint Daljeet Singh Khatri as Director (Finance) retiring by rotation. Outcome: deemed passed subject to votes.
• Authorize Board to fix remuneration of Statutory Auditors for FY2026-27. Outcome: deemed passed subject to votes.
• Appoint Baldeo Purushartha as Part-time Official Government Director. Outcome: deemed passed subject to votes.
• Raise funds up to Rs 70,000 crore via private placement of NCDs/Debentures. Outcome: deemed passed subject to votes.

Meeting Details

• 12 August 2026, 10:00–11:00, in-person group meetings at Emkay Confluence 2026.
• 12 August 2026, 11:00–12:00, one-on-one meetings with ICICI Prudential Life Insurance representatives.
• 12 August 2026, 12:00–13:00, group investor meetings; mode not specified.
• 12 August 2026, 13:00–14:00, one-on-one with HSBC Asset Management representative.

Participants

• Company Secretary & Compliance Officer represented HUDCO.
• HUDCO representatives conducted one-to-one and group investor meetings.

Purpose

• Participation in Emkay Confluence 2026 investor conference and investor meetings.

Meeting Details

• Date of participation: 12 August 2026
• Type of participation: One-to-one and group meetings
• Venue: Grand Hyatt, Mumbai
• Event: Emkay Confluence 2026 – India: Full Throttle Ahead
• Organizer: EMKAY Global Financial Services Ltd
• Purpose: Investor conference participation

Financial Performance

• Q1 FY27 yield on loans was 8.78%.
• Spread around 2% and NIM around 3% expected to hold.
• Tax rate for the year: 20.61% after not creating DTL on special reserves.
• Gross NPA ~ INR 1,600 crores; net NPA ~ INR 82 crores; ~INR 1,100 crores in NCLT.
• FY27 disbursement target around INR 65,000 crores; borrowing plan around INR 70,000 crores.
• Total sanctions outstanding about INR 2.5 lakh crores; last year sanctions were INR 1.64 lakh crores.
• Loan book target by FY30: INR 3 lakh crores.
• No fixed private-sector sanction target; two private-sector projects sanctioned in Q1–Q2 totaling INR 6,000–7,000 crores.

Operations & Pipeline

• Foreign exposure is miniscule; all short-term forex loans retired; long-term 5-year borrowings dominate.
• RBI forex window lowers hedging costs; 5-year dollar borrowings hedged about 1.5%.
• MOU with Gujarat signed; includes metro, roads, Olympics infrastructure; projects expected to start next month.
• MOU with Bihar signed; includes 12 satellite towns and road projects; urban infrastructure focus.
• Gujarat projects to start in quarter; Bihar to leverage urban-challenge fund; bankable projects prioritized.
• MOUs valid five years; disbursement over five years; ongoing government-level deliberations.
• FY27 disbursement target around INR 65,000 crores; loan book by FY30 around INR 3 lakh crores.
• Debt mix: ~70% domestic (bonds 40%, banks 30%), ECB ~10%.
• Borrowing cost including hedging: 5.5%–6.5%; RBI hedging around 1.5%.
• Private-sector sanctions carry no fixed target; two projects sanctioned; disbursement expected later in year.
• NPA resolution progress: ~INR 1,100 crores in NCLT; resolution expected this year.

Balance Sheet & Funding

• FCNR: no maturing FCNR this year/next; USD 200 million matures in 2028; secured.
• Tax rate 20.61%; DTL not created on special reserves, lowering effective rate.
• NPA: gross ~INR 1,600 crores; net ~INR 82 crores; significant NCLT assets under resolution.

Projects & Capex

• Gujarat Olympics infrastructure is included in MOUs; Bihar expands to roads and satellite towns.
• Disbursement pace depends on approvals and land acquisitions; financial closure timelines crucial.
• Total sanctions outstanding ~INR 2.5 lakh crores; quarterly sanctions around INR 60,000 crores.
• Most large projects target 2029–30 completion; disbursement window spans five years post-signing.

Q&A Highlights

• Foreign exposure confirmed minimal; hedging under RBI window; 5-year loans planned.
• Yield on loans 8.78%; spreads around 2% expected to be maintained.
• Sanction pipeline ~INR 2.5 lakh crores; disbursements to commence on priority projects.
• MOUs with Gujarat and Bihar; five-year validity; disbursement over five years.
• Funding mix: ~70% domestic (bonds 40%, banks 30%); ECB ~10%.

Overview

• Standalone BRSR for FY2025-26; HUDCO is a Government of India CPSE.
• Main activity: financial services; 99.59% turnover from housing/infrastructure financing.
• Assurance: reasonable assurance by Mehta & Mehta on BRSR Core.

Key ESG Risks & Opportunities

• Opportunities: sustainable financing growth; target ₹3 lakh crore in infrastructure lending by 2030.
• Risk: climate change affecting borrower cashflows and asset quality; mitigated via resilience measures.
• Regulatory/compliance risk: SEBI LODR governance issues; outstanding penalties ₹2.92 crore as of 31/03/2026.
• Digital transformation offers cost savings and paperless operations; EV adoption underway.

Governance & Policy Highlights

• Board-approved ESG Policy; NGRBC alignment; MoU targets tracked by Board.
• Policies: Vigil Mechanism/Whistleblower, anti-corruption, Code of Conduct, POSH, RPT policy.
• Assurance: Mehta & Mehta reasonable assurance for BRSR Core; ESG disclosures audited.
• Past governance penalties disclosed; some waivers granted; outstanding ₹2.92 crore.

Social Responsibility & Workforce

• Total employees 814; 585 permanent; 170 female; female share ~25%.
• Board female representation 12.5%; KMP female representation 0%.
• Turnover: permanent 9.45%; male 8.03%, female 12.81% (FY2025-26).
• Training coverage ~91.8% of employees; PF and gratuity 100% coverage; Benevolent Fund, medical policy.
• CSR spend ₹60.06 crore in FY26; focus on health, education, livelihoods; numerous CSR programs.

Environmental Performance

• Total energy: 4968.2 GJ; renewables 0.7 GJ; non-renewables 4967.5 GJ; intensity 0.38 MT CO2e per turnover.
• Scope 1 emissions ~37.1 tCO2e; Scope 2 emissions ~882.3 tCO2e; total ~919 tCO2e.
• Water: groundwater 5036.8 kl; third-party 47534.6 kl; total 52571.4 kl; water intensity 4.0 kl/₹ crore.
• Waste: total 46.021 MT; e-waste 1.81 MT; paper waste 44.211 MT; disposal via authorized vendors; no plastics.
• Green Assets ₹21,238 crore (13.21% of total loan outstanding); HQ zero water discharge; rainwater harvesting.

Stakeholder Engagement & Complaints

• Stakeholders: shareholders, bondholders, government/regulators, customers, vendors, employees, communities.
• Engagement channels: email, website, meetings, CPGRAMS; frequency: ongoing; investor communications quarterly.
• Complaints: investors 1,443; communities 0; employees 8; others 49; 1 resolved 02/04/2025.
• Grievance mechanisms: CPGRAMS, GRIDS, intranet; timely acknowledgment and resolution.

Other Notable Metrics

• Procurement: 62.21% from MSMEs; GeM share 79.85%; 4.50% MSME SC/ST; 9.91% MSME women entrepreneurs.
• Preference procurement policy prioritizes MSMEs and marginalized groups; DP/Government guidelines followed.
• Data privacy/cybersecurity: 1 data breach; policy in place; Mehta & Mehta assurance.
• Public policy role: nodal agency for PMAY ISS; DAY-NULM involvement; Urban Invest Window (UiWIN).

Key Financial Highlights

• Net profit FY2025-26: ₹4,034.37 Cr.
• Revenue from operations: ₹13,150.40 Cr; YoY growth ~27%.
• Total income: ₹13,327.13 Cr; EPS: ₹20.15.
• End-year borrowings: ₹126,428.98 Cr.
• Debt securities issued: ₹10,396.12 Cr.
• AAA (Stable) credit rating from major agencies.
• Final dividend proposed: ₹1.50 per share.
• Exits from four associates by 31.03.2026.
• UiWIN launched Nov 2025 to bankable city projects.
• CSR spend FY2025-26: ₹60.06 Cr.

AGM Details

• HUDCO's 56th AGM is scheduled for Monday, 24 August 2026 at 11:30 IST via VC/OAVM.

Annual Report

• Annual report for FY2025-26 will be emailed to members with registered addresses.

Dividend Date

• Record date for final dividend approval is Monday, 17 August 2026.

Voting Rights Window

• Cut-off date for voting rights and remote e-voting is 17 August 2026.

Remote E-Voting

• Remote e-voting starts 20 August 2026 at 09:00 IST and ends 23 August 2026 at 17:00 IST.

Dividend Payout

• Final dividend, if approved at AGM, will be paid within 30 days of declaration.

Communication to Members

• Annual report distribution to registered emails; non-registered members receive a web link.