The Hindu Business Line : Hudco okays Rs 4,680-cr loans in nine months

HOUSING and Urban Development Corporation (Hudco) has sanctioned nearly Rs 4,680 crore for 199 schemes, involving a project cost of Rs 11,275 crore in the first nine months of the current financial year.

The State-owned financial institution earned a net profit of Rs 286.51 crore during the period, of which Rs 107.06 crore came in the October-December quarter, Hudco's Chairman and Managing Director, Mr P.S. Rana, told presspersons here today.

The company plans to set up facilities modelled on the prestigious India Habitat Centre (IHC) in the national capital in different cities, including Noida, Gurgaon and Goa.

The new centres will not be an exact replica of the IHC, but will have a mix and match of facilities depending on the local needs. For example, the proposed India Education Centre in Noida will have space for knowledge-based institutions. It will also have a Vedic Research Centre for the promotion of research into ancient Indian systems in the fields of health and environment.

In addition, Hudco will finance construction of nearly 3.45-lakh dwelling units across the country.

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