Housing & Urban Development Corporation Q2 FY27 Results: Consolidated Net Profit ₹911 Crore on Total Income of ₹4,051 Crore

Housing & Urban Development Corporation (NSE: HUDCO) reported total income of ₹4,051.39 crore and net profit of ₹911.04 crore for the quarter ended 30 Sep 2026, on both standalone and consolidated bases, it said in a filing on 04 Nov 2026. The same filing declared a 2nd interim dividend of ₹1.35 per share.

Key highlights

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Net profit grew faster than total income this quarter: profit rose 28.3% year on year against 24.6% for total income, and profit before tax rose 17.6%.

Revenue from operations rose 25.5% to ₹4,040.42 crore, while other income fell 65.7% to ₹10.97 crore. Other income is 0.3% of total income and 1.0% of profit before tax, so the quarter's income rests almost entirely on interest and related operating revenue.

Finance costs of ₹2,856.58 crore are 70.5% of total income, up 33.1% from ₹2,146.94 crore a year earlier. Finance costs rose faster than total income in the year, and the filing does not give a reason for the rise.

The consolidated figures match the standalone figures line by line. The consolidated results include associate Shristi Urban Infrastructure Development Limited, whose share of loss the filing rounds to zero crore.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The standalone table is identical to the consolidated one in every line shown, including total income of ₹4,051.39 crore and net profit of ₹911.04 crore. Net profit rose 28.3% year on year and 7.0% quarter on quarter, while total income rose 24.6% and 8.4% respectively.

Quarter-on-quarter, net profit grew more slowly than total income, and finance costs rose 11.6% to ₹2,856.58 crore. The margin on total income was 22.49%, compared with 21.83% a year earlier and 22.77% in the previous quarter.

The filing notes that interest income of ₹7.80 crore was booked on the No Lien AGP account for the quarter, with a recoverable balance of ₹743.16 crore as on 30 Sep 2026. The auditors draw attention to this matter, and their opinion is not modified. The company says it is in discussions with the Ministry of Housing and Urban Affairs on recovery of the amount, including interest; the filing does not give a timeline.

Inference

The filing declares a 2nd interim dividend of ₹1.35 per share, 13.50% of the ₹10 face value, subject to TDS. The record date is 11 Nov 2026 and the company says payment will be completed within 30 days of declaration.

The company was included in the RBI list of NBFC-UL for FY 2026-27, and the Ministry of Rural Development's 20.73% stake was transferred to the Ministry of Housing and Urban Affairs on 22 Sep 2026, leaving the ministry with the entire 75% promoter holding.

The company raised ₹1,140 crore through listed non-convertible debt securities in the quarter ended 30 Jun 2026 and nothing in the quarter ended 30 Sep 2026. The standalone debt equity ratio is 7.16 times and net worth is ₹22,959.05 crore. The auditors also report non-compliance with the requirement on independent directors, with stock exchange fines disclosed as contingent liabilities; the filing does not state the amount of those fines or when the board will be compliant.