The MoU, inked on 8th April 2025 in Mumbai, aims to lay the foundation for a collaborative partnership between HUDCO and MMRDA. As per the agreement, HUDCO will explore and potentially provide funding of up to Rs 1.5 lakh crore over the next five years for infrastructure development projects to be undertaken by MMRDA across the Mumbai Metropolitan Region (MMR).
Beyond financial support, HUDCO will also extend consultancy services and capacity building activities to meet the emerging requirements of MMRDA.
HUDCO is primarily engaged in the business of financing housing and urban development activities in the country. As on December 2024, the Government of India held 75% in the company.
The company's consolidated net profit jumped 41.6% to Rs 735.03 crore while total income increased 36.9% to Rs 2770.14 crore in Q3 FY25 over Q3 FY24.