Housing and Urban Development Corporation (HUDCO) has reported results for first quarter ended June 30, 2018.
The company has reported 2-fold jump in its net profit at Rs 333.38 crore for the quarter under review as compared to Rs 162.38 crore for the same quarter in the previous year. Total income of the company increased by 73.42% at Rs 1,614.09 crore for Q1FY19 as compared Rs 930.73 crore for the corresponding quarter previous year.
HUDCO finances social housing and residential real estate through primarily lending to State Governments and their agencies, which, in turn, extend the finance to or utilise the finance for the ultimate individual beneficiaries.
