VPPL is a joint venture of JNPA and Maharashtra Maritime Board (MMB), an entity of the Government of Maharashtra.
Under the MoU, HUDCO will explore and provide funds up to Rs 25,000 crore for the development of new ports and public-private partnership projects of VPPL.
HUDCO is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, and commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.
The company’s consolidated net profit jumped 52.5% to Rs 688.62 crore on a 34.3% increase in total income to Rs 2,526.14 crore in Q2 FY25 over Q2 FY24.
Shares of Housing & Urban Development Corporation fell 1.47% to Rs 224 on the BSE.