BOM:540530

Nirmal Bang Upgrades Housing & Urban Development to Buy from Hold; Price Target is INR239

Housing and Urban Development's Profit Soars in Fiscal Q4

Housing and Urban Development's (NSE:HUDCO, BOM:540530) standalone profit jumped to 19.81 billion Indian rupees in the fiscal fourth quarter ended March 31, from 7.28 billion rupees a year ago.Earnings per share climbed to 9.90 rupees from the year-ago figure of 3.64 rupees, according to a Thursday filing to the Indian stock exchanges by the housing finance company.Revenue from operations in the fiscal fourth quarter also increased to 35.63 billion rupees from 28.45 billion rupees a year earlier.The company's board recommended a final dividend of 1.50 rupees per share for the financial year 2025-26.

NBCC (India), HUDCO Sign MoUs for Redevelopment, Asset Monetization

NBCC (India) (NSE:NBCC, BOM:534309) and Housing and Urban Development Corp. (NSE:HUDCO, BOM:540530) signed two memorandums of understanding, according to a Monday filing on Indian bourses.The first MoU covers redevelopment of a leasehold plot of about 18,830 sq m at Bhikaji Cama Place in New Delhi, India. This includes feasibility study, construction, project management and monetization of built-up space, the filing said.The second MoU relates to asset monetization of self-sustainable model projects of NBCC. Under the deal, HUDCO will provide funding, subject to government approval, while NBCC will offer project management and consultancy services, it added.