HUDCO Signs ₹11,300 Crore MoU with NMRDA to Boost Nagpur’s Urban Infrastructure
To fund land, housing, and infrastructure projects over five years.
Housing and Urban Development Corporation (HUDCO) has signed a non-binding Memorandum of Understanding (MoU) worth ₹11,300 crore with the Nagpur Metropolitan Region Development Authority (NMRDA). The agreement aims to support key urban development initiatives, including land acquisition, affordable housing, road networks, and infrastructure projects across the Nagpur metropolitan region over the next five years.
The MoU was signed in Mumbai in the presence of Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde. In addition to funding, HUDCO will provide technical assistance, including project structuring, advisory services, and capacity building to help NMRDA execute these projects efficiently.
The deal marks one of HUDCO’s most significant regional engagements and aligns with its mission to promote sustainable urbanization across India.
HUDCO recently reported a strong financial performance for the June 2025 quarter, with revenue rising 34.2% year-on-year to ₹2,937.3 crore and net profit increasing 13% to ₹630.2 crore. Despite a 9% decline in stock value earlier this year, the shares have shown signs of recovery in recent weeks.
