Housing and Urban Development Corporation Limited (HUDCO) has made two significant announcements, showcasing its commitment to urban development and corporate governance.

New Government Nominee Director Appointed

HUDCO has appointed Shri Baldeo Purushartha as a Government Nominee Director with immediate effect. This appointment follows an order from the Ministry of Housing and Urban Affairs and subsequent approval by HUDCO's Board of Directors through a resolution passed by circulation on September 8, 2025.

Shri Purushartha, a 2002 batch Indian Administrative Service (IAS) officer of the Punjab cadre, currently serves as Joint Secretary in the Department of Economic Affairs, Ministry of Finance, Government of India. His extensive experience includes various field and secretariat positions in both the Government of Punjab and the Government of India.

Key points about Shri Purushartha's appointment:

• He holds a Post Graduate degree from the University of Delhi.
• He represents the Government of India on the boards of several Central Public Sector Enterprises.
• He has received an award from the Prime Minister for making Chandigarh the first Million Plus ODF (Open Defecation Free) city.
• Shri Purushartha does not hold any shares in HUDCO and is not related to other board directors.

Memorandum of Understanding with Nagpur Metropolitan Region Development Authority

In a separate development, HUDCO has signed a non-binding Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) on September 8, 2025, in Mumbai. This strategic partnership aims to boost urban development in the Nagpur Metropolitan Region.

Key aspects of the MoU:

• HUDCO will explore and provide funds up to Rs. 11,300.00 Crore over a five-year period.
• The funding will support land acquisition, housing, and infrastructure projects in the Nagpur Metropolitan Region.
• HUDCO will also extend consultancy services and capacity-building activities to meet NMRDA's emerging requirements.

The MoU signing ceremony was attended by notable dignitaries, including:

• Shri Devendra Fadnavis, Chief Minister of Maharashtra
• Shri Eknath Shinde, Deputy Chief Minister of Maharashtra
• Shri Sanjay Kulshrestha, Chairman & Managing Director of HUDCO

This collaboration between HUDCO and NMRDA is expected to significantly contribute to the urban development landscape of the Nagpur Metropolitan Region, fostering growth and improving infrastructure in the area.

These developments underscore HUDCO's role in facilitating urban development across India and its commitment to maintaining strong corporate governance practices.

HUDCO has taken a significant step towards urban development by signing a Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA). The agreement, inked on September 8, 2025, in Mumbai, outlines HUDCO's commitment to provide funding of Rs 11,300.00 crore for the development of Nagpur Metro over a five-year period.

Key Highlights of the MoU

• Funding Amount: HUDCO to explore and provide funds up to Rs 11,300.00 crore
• Duration: The funding arrangement is structured over a five-year period
• Purpose: For land acquisition, housing, and development of infrastructure projects in the Nagpur Metropolitan Region
• Additional Services: HUDCO will extend consultancy services and capacity building activities to meet NMRDA's emerging requirements

Significance of the Agreement

This non-binding MoU establishes a robust collaborative partnership between HUDCO and NMRDA, aimed at fostering urban development in one of Maharashtra's key cities. The substantial funding commitment underscores the importance of the Nagpur Metro project in enhancing urban mobility and infrastructure in the region.

High-Profile Presence

The MoU signing ceremony was graced by several dignitaries, including:

• Shri Devendra Fadnavis, Hon'ble Chief Minister of Maharashtra
• Shri Eknath Shinde, Hon'ble Deputy Chief Minister of Maharashtra
• Shri Sanjay Kulshrestha, Chairman & Managing Director of HUDCO

HUDCO's Expanding Role

This agreement aligns with HUDCO's mission to promote sustainable habitat development to enhance the quality of life. By providing both financial support and expertise, HUDCO is positioning itself as a key player in urban infrastructure development across India.

Looking Ahead

As the MoU sets the stage for a long-term partnership, stakeholders will be keenly watching the progress of the Nagpur Metro development. The successful implementation of this project could serve as a model for similar urban development initiatives in other parts of the country.

The collaboration between HUDCO and NMRDA represents a significant step towards enhancing urban infrastructure and improving the quality of life for residents in the Nagpur Metropolitan Region. As the project unfolds over the next five years, it is expected to bring substantial changes to the urban landscape of Nagpur.