HUDCO

Housing and Urban Development Corporation shares declined more than 8% on Friday after the company reported a sharp 39% year-on-year fall in pre-tax profit for the March quarter, impacted by a significant rise in expenses. Total expenses surged to ₹3,004 crore from ₹1,835 crore a year ago, dragging the stock down to an intraday low of ₹205.07 on the NSE. Despite this, the company posted a more than two-fold jump in net profit to ₹1,981 crore, largely supported by a deferred tax gain of ₹1,530 crore, while total income rose to ₹3,625 crore. For FY26, HUDCO reported its highest-ever net profit of ₹4,034 crore, up 49% from the previous year. The company also recorded strong operational growth, with loan sanctions increasing 29% to ₹1.64 lakh crore and disbursements rising 28% to ₹51,194 crore. Chairman and Managing Director Sanjay Kulshrestha said the company remains focused on reforms, digital initiatives, governance improvements, and diversification of funding sources to maintain growth momentum. The board has also recommended a final dividend of ₹1.50 per equity share for FY26.