The Hindu : Hudco to set up guidance centres

Online edition of India's National Newspaper
Saturday, Apr 06, 2002

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Business

Hudco to set up guidance centres

By Our Special Correspondent

NEW DELHI APRIL 5. The public sector Housing and Urban Development Corporation (HUDCO) has posted a record gross profit of Rs. 373.21 crores in the just concluded financial year, up from Rs. 316.36 crores in the previous year.

Announcing the provisional results of the company for 2001-02, its Chairman and Managing Director, V. Suresh, said after taking into consideration interest on recognition and part provision in respect of Government guaranteed loans, the profit before tax was consequently estimated at Rs. 124.91 crores and after tax at Rs. 86.91 crores.

Addressing a press conference here on Thursday, he said the company had also registered new highs in terms of sanction of loans for projects and resource mobilisation. It had sanctioned loans amounting to Rs. 8,140 crores and disbursed Rs. 4,652 crores during the year and mobilised Rs. 5,073 crores.

The performance had been particularly good with regard to the HUDCO Niwas scheme, which provides housing finance to individuals. A sum of Rs. 463 crores was sanctioned to 75,000 applicants under the scheme during the year.

As for the thrust areas for 2002-03, he said a major plan was afoot to establish HUDCO Haats (or bazaars) in all State capitals.

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