HUDCO guides ₹65,000 cr disbursements in FY27, legacy NPAs in sight
Q1 net profit jumped 35% to ₹851 cr. Management targets 2% spread recovery by Q3FY27 and reaffirms ₹3 lakh cr loan book by 2030.
— 6 earlier stories on Housing & Urban Development Corporation Ltd. →What's new
- Management guided to ₹65,000 cr disbursements for FY27, vs ₹51,194 cr in FY26
- Legacy NPAs of ~₹1,100 cr tied to pre-2013 NCLT cases expected to resolve this fiscal
- Spread recovery target of 2% by Q3FY27 revealed; granular state-level origination details shared
Why this matters
HUDCO is laying out a clear growth path: higher disbursements, a cleaner book, and a recovery in spreads to 2%. If the NCLT resolution materialises on time, asset quality could improve meaningfully.
What we're watching
- Resolution progress on pre-2013 NCLT accounts: management expects closure this year
- Disbursement trajectory: can HUDCO sustain the 27% growth pace?
- Spread movement: achieving 2% by Q3FY27 will test pricing power
The full read
HUDCO's Q1 FY27 concall offered the most detailed forward guidance in months. Disbursements for FY27 are pegged at ₹65,000 crore, a 27% jump over FY26's ₹51,194 crore. The company also expects legacy NPAs, about ₹1,100 crore stuck in pre-2013 NCLT cases, to clear this year, and targets a spread recovery to 2% by Q3FY27. The loan-book ambition of ₹3 lakh crore by 2030 remains intact. Strong Q1 results, revenue ₹3,737 crore and net profit ₹851 crore, provide the base. The open question is execution: can disbursement momentum hold, and will NCLT resolutions move as fast as promised? If they do, HUDCO's risk profile tightens considerably.
Questions answered
- What is HUDCO's disbursement target for FY27?
- Management guided to ₹65,000 crore in disbursements for FY27, compared to ₹51,194 crore in FY26 — a 27% increase.
- How much are HUDCO's gross NPAs and what is the composition?
- GNPA stood slightly above ₹1,600 crore, with roughly ₹1,100 crore tied to pre-2013 projects under NCLT. The company expects to resolve these legacy accounts within the current fiscal year.
- What is the timeline for spread recovery?
- Management guided to spread recovery to 2% by Q3FY27, up from the current level. This margin improvement is a key profit driver.
- What is HUDCO's medium-term loan book target?
- The company reaffirmed its ₹3 lakh crore loan book target by 2030. Current loan book is not specified in this filing but the ambition implies sustained growth.
- How did HUDCO perform in Q1 FY27?
- Q1 revenue rose 27% year-on-year to ₹3,737 crore, and net profit increased 35% to ₹851 crore. NPA also shrank to 0.96% as per prior filings.
Housing & Urban Development Corporation Ltd.
Latest quarter · Jun 2026
Leverage & growth
Story so far
All notes on HUDCO →- 28 Jul 2026 · 11:59 AM IST HUDCO guides ₹65,000 cr disbursements in FY27, legacy NPAs in sight
- 1d ago HUDCO's Q1 net profit jumps 35% to ₹851 cr, NPAs shrink further
- 1d ago HUDCO Q1 net profit ₹851 cr, NPAs shrink to 0.96%
- 17d ago HUDCO signs third ₹1 lakh cr MoU in a month, this time with Odisha
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