The Housing And Urban Development Co. (HUDCO), inked a memorandum of understanding (MoU) with Bihar's state government to provide loans worth Rs 25,000 crore for the development of industrial infrastructure, over a course of five years, according to an exchange filing from the company on Wednesday.
The loans also cover the cost of acquisition of land for industrial park projects.
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The authorities in Bihar have assigned the responsibility of this development project to the Infrastructure Development Authority (IDA) including the acquisition, purchase, consolidation and development of the land.
The loan amount will be availed in tranches by the statutory authority specifically designated by the Bihar state government. As a part of the deal, HUDCO will facilitate a flexible loan repayment schedule which will span up to 25 years along with an option for prepayment.
The firm will receive loan repayments via escrowing the revenue generated from these projects by ringfencing other sources of revenue from the state budget to ensure timely payments to the public sector undertaking (PSU).
The MoU will remain valid for three years from the date of execution subject to annual review.
HUDCO Share Price History
Shares of Housing And Urban Development Corp., saw a 0.13% downturn to settle at Rs 178.35 at the end of the day's trade, compared to a 0.59% downturn of the NSE Nifty 50.
The stock opened at Rs 177.80, compared to its previous close of Rs 178.58. During today's trading session, Housing & Urban Development Corporation Ltd. share price moved in the range of Rs 175.13 to Rs 180.27.
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Looking at its last 52-week performance, the stock has touched a low of Rs 159.00 and a high of Rs 246.85. On the performance front, Housing & Urban Development Corporation Ltd. share price is down 17.55% on a year-on-year basis.
The market capitalisation of Housing & Urban Development Corporation Ltd. is Rs 45210.91 crore, with a P/E ratio of 13.07.
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