Housing & Urban Development Corporation Ltd (HUDCO) on January 22 reported a 42 percent year-over-year rise in net profit to ₹735 crore in the October-December quarter (Q3) of FY25. Its net profit stood at ₹519.23 in the corresponding quarter of the previous financial year.

The Navratna company also recorded a strong rise in revenue at ₹2,760 crore in Q3. This marks a rise of nearly 37% from the ₹2,013 crore revenue reported in the year-ago period.

HUDCO also announced an interim dividend of ₹2.05 per equity share for the current financial year 2025. The company has set January 30 as the record date for determining the eligibility of the shareholders set to receive the dividend.

Total income increased to ₹2,770.14 crore in the third quarter of this fiscal year from ₹2,022.94 crore in the corresponding period of the preceding year, according to a regulatory filing on Wednesday.

The company has signed a Memorandum of Understanding (MoU) with VPPL, a joint venture of JNPA (Government of India) and Maharashtra Maritime Board (MMB), an entity of the Government of Maharashtra.

“Through this MoU, HUDCO shall explore and provide funds up to ₹25,000 crore for development of new ports/PPP projects of VPPL,” the filing said. It said it has signed an MoU with Vadhvan Port Project Ltd (VPPL) to explore the possibility of providing funds up to ₹25,000 crore.