Shares of Housing and Urban Development Corporation Ltd (HUDCO) rose 2% to hit a day’s high of Rs 233.28 on 17th November after the firm said it is in talks with multilateral development banks, including ADB, and other institutions to mobilise $1 billion to fund infrastructure projects in the country, according to Chairman and Managing Director Sanjay Kulshreshtha.

HUDCO CMD Sanjay Kulshreshtha said the company is close to securing major foreign funding. This includes $200 million from Germany’s KfW, $500 million from the Asian Development Bank, and $200–300 million from the Asian Infrastructure Investment Bank. He added that HUDCO aims to close these fundraises — totalling about $1 billion — within the current financial year. This will support infrastructure lending.

He noted that foreign funding will help diversify HUDCO’s funding sources. It will also lower its cost of capital. HUDCO has also been authorised to issue 54 EC Capital Gain Bonds and has raised Rs 50 crore so far at a coupon rate of 5.39%. These bonds allow investors to defer long-term capital gains tax. The company plans to raise an additional Rs 150 crore this year.

For the first half ending September 2025, HUDCO’s loan sanctions rose 22% to Rs 92,985 crore. Disbursements increased to Rs 25,838 crore. Kulshreshtha said HUDCO is on track to achieve net-zero NPAs within 15 months. This is backed by a focus on investment-grade projects. Gross NPAs improved to 1.21% from 2.04% a year ago, and net NPAs fell to 0.07% from 0.31%.

At 11:55 AM, shares of HUDCO were trading 2.20% higher at Rs 232.50 on NSE.

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