Rs 11,300 Crore Infrastructure Projects: President of India-Backed Financial Institution Signs MoU with Nagpur Metropolitan Region Development Authority (NMRDA)

The Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with Nagpur Metropolitan Region Development Authority (NMRDA). The non-binding MoU has been entered to establish a robust collaborative working partnership between HUDCO and NMRDA wherein HUDCO shall explore and provide funds up to Rs 11,300 crore over a period of five years, for land acquisition, housing and development of Infrastructure Projects in the Nagpur Metropolitan Region.

Further, HUDCO will also extend consultancy services and capacity-building activities to meet the emerging requirements of NMRDA. The MoU was signed in the presence of Shri Devendra Fadnavis, Hon’ble Chief Minister, Maharashtra, Shri Eknath Shinde, Hon’ble Deputy Chief Minister, Maharashtra, Shri Sanjay Kulshrestha, Chairman & Managing Director, HUDCO and other dignitaries.

About the Company

Housing and Urban Development Corporation Limited provides financial assistance for housing and urban infrastructure development projects. The Company offers loans for housing projects such as urban and rural housing, community toilets, water supply, roads and transport and power projects. Housing and Urban Development serves customers in India.

The company has a market cap of over Rs 40,000 crore and its maximum stake is owned by the President of India (75 per cent as of June 2025). Additionally, the Life Insurance Corporation of India (LIC) own a 7.08 per cent stake in the company. The stock gave multibagger returns of 410 per cent in just 3 years whereas the BSE Sensex Index is up by 36 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.