Housing and Urban Development Corporation

Updated on Jan 26, 2024

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Industry Housing Finance Website www.hudco.org Founded 1970 Parent organization Government of India		Revenue 15306.0 million Headquarters New Delhi Number of employees 916

Type Public Sector Undertaking Key people Dr. Medithi Ravi Kanth, IAS(r).(Chairman & managing director)

The Housing and Urban Development Corporation Limited (HUDCO) is a government-owned corporation in India. One of the public sector undertakings, it is wholly owned by the Union Government and is under the administrative control of the Ministry of Housing and Urban Poverty Alleviation. It is mandated with building affordable housing and carrying out urban development.

Objectives

The objectives of HUDCO include

providing long term finance for construction of houses for residential purposes or finance or undertake housing and urban development programmes in the country;

finance or undertake, wholly or partly, the setting up of the new or satellite towns;

subscribe to the debentures and bonds to be issued by the State Housing (and/or Urban Development) Boards, Improvement Trusts, Development Authorities etc. specifically for the purpose of financing housing and urban development programmes;

finance or undertake the setting up of industrial enterprises of building material;

administer the moneys received, from time to time, from the Government of India and other sources as grants or otherwise for the purposes of financing or undertaking housing and urban development programmes in the country, and

promote, establish, assist, collaborate and provide consultancy services for the projects of designing and planning of works relating to Housing and Urban Development programmes in India and abroad.

undertake business of Venture Capital Fund in Housing and Urban Development Sectors facilitating Innovations in these sectors and invest in and/or subscribe to the units/shares etc. of Venture Capital Funds promoted by Government/Government Agencies in the above areas.

set up HUDCO's own Mutual Fund for the purpose o Housing and Urban Development programmes and/or invest in, and/or subscribe to the units etc. of Mutual Funds, promoted by the Government/Government Agencies for the above purpose.

Corporate Vision

"TO BE AMONG THE WORLD'S LEADING KNOWLEDGE HUBS AND TECHNO-FINANCIAL ORGANIZATIONS FOR CLEAN, GREEN AND SUSTAINABLE HABITAT DEVELOPMENT."

Corporate Mission

"TO PROMOTE SUSTAINABLE HABITAT DEVELOPMENT TO ENHANCE THE QUALITY OF LIFE" HUDCO would continue to explore opportunities in related sectors for sustainable profits, which in turn will help it to further support its social objectives. Towards expanding its role in the sectors, HUDCO plans to integrate itself along the complete project finance value chain and position itself as sector expert in the identified areas. HUDCO would leverage its expertise and experience gained over the years towards augmenting its Interest based activities. HUDCO's IT strategy is also focused on the right technology solutions to meet its business objectives, including setting up an industry bench marked integrated solution spanning HUDCO's business processes. HUDCO is poised to take up to a much more significant role in the sector by supporting the growing needs of housing and infrastructure in the coming years with the continued growth of economy. HUDCO is also committed to play its unique social role with a special focus on the needs for the economically weaker sections and lower groups.

Legend CMD of the Year Award

Dr. M. Ravi Kanth, Chairman & managing director, HUDCO was awarded the ‘Legend CMD of the Year Award – 2014’ and Housing and Urban Development Corporation Limited (HUDCO) was presented the ‘Legend PSU of the Year Award – 2014’ by News Ink under the ‘Legend PSU shining Award – 2014’. These Awards are an initiative of PSU Khabar which is India’s No. 1 News Portal in PSU Segment.

CMD HUDCO receives ‘Udyog Ratan Award’ by DTA

Dr. M Ravi Kanth, Chairman and managing director, Housing & Urban Development Corporation Ltd. (HUDCO) received the ‘Udyog Ratan Award’ constituted by Delhi Telugu Academy. The award was given away by H.E. Sri Om Prakash Kohli, Hon’ble Governor of Gujarat during the Ugadi Celebration function held at New Delhi on 15 March 2015. Sri Ashok Gajapathi Raju Pusapati, Hon’ble Minister for Civil Aviation graced the occasion.

Bronze Medal in HUDCO Build Tech – 2014

A prominent exhibition on Building Materials, Technologies & Services, Real Estate and Housing Finance’ HUDCO BUILD-TECH 2014 Pavilion has been adjudged Third for Excellence in Display in the 34th India International Trade Fair 2014 held at Pragati Maidan, New Delhi, in the category – PSUs, EPCs, Commodity Boards and Banks.

Dr. M Ravi Kanth, Chairman & managing director, HUDCO received the BRONZE MEDAL on 27 November 2014 in a glittering function amid much fanfare. The Build-Tech exhibition showcased a magnificent display of HUDCO’s contribution in sustainable urban development focusing on funding of housing & infrastructure projects as well as innovative consultancy assignments in architecture, planning, utilisation of cost effective and sustainable building materials, technologies and Services, Disaster Rehabilitation, as well as energy efficient Green Buildings, etc. The exhibition also displayed the work done through HUDCO’s active participation in Government of India programmes, such as JNNURM and RAY by way of providing appraisal and consultancy services. Besides, various companies from Building Material manufacturing industry, Real Estate, Interiors and Housing Finance also participated in Hudco Build Tech 2014. HUDCO pavilion has always earned a tremendous response from National and International visitors including professionals from diversified fields like Architecture, Interior Designers, Builders, Contractors, Civil Engineers and consultants from various fields. Moreover, trade delegations from abroad; captains of the industry, Chief Executives of Organizations, opinion makers, Technocrats, Govt. Officials also graced the show.

HUDCO was incorporated on 25 April 1970.

HUDCO has worked with architects such as B. V. Doshi, Charles Correa, Christopher Charles Benninger and Sheila Sri Prakash.

References

Housing and Urban Development Corporation Wikipedia

(Text) CC BY-SA

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