HUDCO, Maharashtra govt in talks for projects’ funding worth over Rs 30,000 crore
HUDCO), is in talks with the government of Maharashtra to support infrastructure and housing projects in the state with funding of over Rs 30,000 crores, said a top company official.
“We are in talks with the government of Maharashtra and development agencies involved in developing roads, infrastructure, and housing projects in the state to support several projects. We had a few meetings earlier this week too,” said Sanjay Kulshrestha, chairman & managing director, HUDCO.
The public sector undertaking engaged in housing finance and infrastructure project finance is in talks with development bodies including Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra State Road Development Corporation (MSRDC), Thane Municipal Corporation, state government’s Public Works Department (PWD), and Mumbai Metro Rail Corporation.
HUDCO has enhanced its borrowing limit to Rs 35,000 crore from Rs 18,000 crore and is looking to raise funds to support the financing of infrastructure and housing projects across the country and to also support repayment of its existing debt. Of the current limit of Rs 18,000 crore, its has already raised Rs 12,000 crore, Kulshrestha said.
HUDCO is currently registered as a housing finance company with the National Housing Bank and is in process of registration as a non-banking finance company-Infrastructure Finance Company (NBFC-IFC) with the Reserve Bank of India. Till the time of registration of HUDCO with RBI, the Company continues to retain the status of HFC, the company said in
