Rs 1,50,000 Crore Infrastructure Projects: President of India-Backed Financial Institution Signs MoU With Mumbai Metropolitan Region Development Authority
The stock gave multibagger returns of 880 per cent in just 5 years whereas the BSE Sensex Index is up by 150 per cent.
The Housing and Urban Development Corporation Limited (HUDCO) and the Mumbai Metropolitan Region Development Authority (MMRDA) formalized a significant partnership today, April 8th, 2025, in Mumbai. A Memorandum of Understanding (MoU) was signed between the two entities, outlining a collaborative framework aimed at bolstering infrastructure development within the Mumbai Metropolitan Region. This strategic alliance signifies a commitment to addressing the growing infrastructural needs of the region through mutual cooperation and resource sharing.
Under the terms of the MoU, HUDCO has pledged to explore and potentially provide substantial financial assistance, up to a staggering Rs 1,50,000 crore over the next five years, for various infrastructure projects undertaken by MMRDA. Beyond financial support, HUDCO will also extend its expertise through consultancy services and capacity-building initiatives, catering to the evolving requirements of MMRDA. The signing ceremony, held in Mumbai, was graced by the presence of prominent dignitaries including the Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis, the Hon’ble Deputy Chief Minister, Shri Eknath Shinde, and the Chairman & Managing Director of HUDCO, Shri Sanjay Kulshrestha, underscoring the importance of this collaboration for the state's development.
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About the Company
Housing and Urban Development Corporation Limited provides financial assistance for housing and urban infrastructure development projects. The Company offers loans for housing projects such as urban and rural housing, community toilets, water supply, roads and transports, and power projects. Housing and Urban Development serves customers in India. The company has a market cap of over Rs 40,000 crore and its maximum stake is owned by the President of India (75 per cent as of December 2024). Additionally, the Life Insurance Corporation of India (LIC) own a 7.44 per cent stake in the company.
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Disclaimer: The article is for informational purposes only and not investment advice.