HUDCO to Sanction ₹13,000 Crore for Urban Development Projects
₹13k cr city projects under Urban Fund in HUDCO's loan sanction pipeline
Business Standard
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The Housing and Urban Development Corporation (HUDCO) is moving forward with loan agreements for approximately ₹13,000 crore (around $1.57 billion USD) in urban development projects across 40 cities in India. This follows the Centre's recent guidelines for the ₹1 trillion Urban Challenge Fund aimed at enhancing urban infrastructure.
- 01HUDCO is set to finance ₹13,000 crore for urban development projects.
- 02This initiative involves around 40 city projects across India.
- 03The financing is part of the Centre's ₹1 trillion Urban Challenge Fund.
- 04HUDCO reported a 49% increase in net profit for FY26.
- 05The move aims to strengthen urban infrastructure and local governance.
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The Housing and Urban Development Corporation (HUDCO), a state-run lender in India, is preparing to sanction loans amounting to ₹13,000 crore (approximately $1.57 billion USD) for about 40 urban development projects. This initiative aligns with the Centre's recently introduced Urban Challenge Fund, which has a total allocation of ₹1 trillion aimed at improving urban infrastructure across the country. HUDCO's efforts come on the heels of a reported 49% rise in net profit for the fiscal year 2026, reflecting its commitment to advancing urban project financing. The corporation is currently finalizing agreements with various state governments and urban local bodies to facilitate these projects, which are expected to bolster local governance and enhance urban living standards.
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This funding will significantly enhance urban infrastructure, potentially improving living conditions and local governance in the cities involved.
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