Hudco Eyes Multilateral Funding Boost for Infrastructure

Housing and Urban Development Corporation Ltd (Hudco) is seeking to secure $1 billion in funding from international development banks to finance infrastructure projects. Talks are underway with various banks, including ADB and KfW, while more Capital Gain Bonds are set to be issued to cut costs and improve asset quality.

State-owned Housing and Urban Development Corporation Ltd (Hudco) is actively engaging with multilateral development banks to raise $1 billion for infrastructure projects, as announced by Chairman Sanjay Kulshreshta.

The company is negotiating with Germany's KfW for $200 million and is in talks with the Asian Development Bank for $500 million, in addition to potential funding of $200-300 million from the Asian Infrastructure Investment Bank.

Hudco's strategy includes issuing 54 EC Capital Gain Bonds to optimize costs, complemented by a trajectory towards net zero NPAs, underscoring its commitment to investment-grade projects and financial stability.

(With inputs from agencies.)