HUDCO secures BBB+ credit rating from JCRA

HUDCO announced on December 4, 2025, that Japan Credit Rating Agency (JCRA) Ltd. has assigned it a Foreign Currency Long-term Issuer Rating of BBB+ with a Stable outlook, and a Local Currency Long-term Issuer Rating of BBB+ with a Stable outlook. These ratings align with the Republic of India's Long-term Issuer Ratings and highlight HUDCO's significant role in India’s housing and urban infrastructure development.

The ratings reflect HUDCO’s strong capital ties with the Government of India, its status as a de facto implementing agency for government-led projects, and robust business expansion. For FY2025, HUDCO’s outstanding loans increased by 35% year-on-year, with consolidated revenue reaching INR 103.1 bn and net profit at INR 27.1 bn, both record highs.

JCRA highlighted HUDCO's sound loan portfolio, with approximately 90% guaranteed by central and state governments, leading to a capital to risk-weighted assets ratio of 46.6% at the end of FY2025, well above the 15% domestic regulatory requirement. The non-performing loan ratio also improved to 1.67% on a gross basis and 0.25% on a net basis.