Housing and Urban Development Corporation Limited (HUDCO) has taken a significant step towards urban development by signing a Memorandum of Understanding (MoU) with NBCC (India) Limited. The non-binding agreement, inked on September 19, 2025, in New Delhi, outlines ambitious plans for development and construction projects across four key locations in India.

Key Projects Under the MoU

The collaboration between HUDCO and NBCC encompasses the following projects:

1. Development of a commercial plot in Kaushambi, Ghaziabad (Uttar Pradesh)
2. Development of an institutional plot in Panchkula (Haryana)
3. Construction of additional blocks at HUDCO Regional Office in Ahmedabad (Gujarat)
4. Reconstruction of residential flats at Asian Games Village Complex, New Delhi (on a turnkey basis as deposit work)

Leadership and Execution

The MoU was formally signed by Shri Sanjay Kulshrestha, Chairman and Managing Director (CMD) of HUDCO, and Shri K. P. Mahadevaswamy, CMD of NBCC. The signing ceremony was attended by senior officials from both organizations, underscoring the importance of this collaboration.

Implications for Urban Development

This partnership between HUDCO, a premier techno-financial institution in the housing and urban development sector, and NBCC, a Navratna CPSE (Central Public Sector Enterprise) under the Ministry of Housing and Urban Affairs, signals a concerted effort to boost urban infrastructure and housing projects across multiple cities.

The diverse nature of the projects—ranging from commercial and institutional developments to residential reconstruction—reflects a comprehensive approach to urban planning and development. This initiative aligns with HUDCO's mission to promote sustainable habitat development to enhance the quality of life.

While the financial details and specific timelines of the projects have not been disclosed, the agreement marks a significant step in fostering public-sector collaboration for urban development in India. As these projects progress, they are expected to contribute to the creation of modern urban spaces and improved housing facilities in the targeted cities.

Investors and stakeholders will be keenly watching the execution of these projects, as they have the potential to impact the future growth and performance of both HUDCO and NBCC in the coming years.

Housing and Urban Development Corporation Limited (HUDCO) has announced the re-appointment of Shri Baldeo Purushartha as Government Nominee Director, effective immediately. This decision comes following the conclusion of his previous tenure, which ended on September 15, 2025, coinciding with HUDCO's 55th Annual General Meeting (AGM).

Board Approval and Appointment Details

The Board of Directors of HUDCO approved Purushartha's re-appointment through a resolution passed by circulation on the same day as the AGM. This swift action ensures continuity in the company's governance structure.

About Baldeo Purushartha

Shri Baldeo Purushartha, who holds the Director Identification Number (DIN) 07570116, brings a wealth of experience to his role at HUDCO:

• Currently serves as Joint Secretary in the Infrastructure Policy and Planning Division at the Department of Economic Affairs
• 2002 batch Indian Administrative Service (IAS) officer from the Punjab cadre
• Represents the Government of India on boards of several Central Public Sector Enterprises, including:
  • Indian Railway Station Development Corporation Ltd
  • Indian Railway Finance Corporation Ltd
  • National Investment and Infrastructure Fund Trustee Limited
  • National Land Monetisation Corporation Limited

Professional Achievements

Purushartha's career is marked by notable accomplishments:

• Received an award from the Prime Minister for making Chandigarh the first Million Plus Open Defecation Free (ODF) city
• Contributed to shaping various books on Public-Private Partnership (PPP) in infrastructure
• Authored articles on Infrastructure & PPP in various magazines

Educational Background

Mr. Purushartha holds a Post Graduate degree from the University of Delhi, India, further enhancing his qualifications for this crucial role.

Implications for HUDCO

The re-appointment of Shri Baldeo Purushartha as Government Nominee Director is significant for HUDCO:

• Ensures continuity in government representation on the board
• Brings valuable expertise in infrastructure and public-private partnerships
• Aligns with HUDCO's role in urban development and housing finance

Additional Notes

• Purushartha does not hold any shares in HUDCO
• He is not related to other board directors of the company

This re-appointment underscores the government's continued involvement in HUDCO's strategic direction and governance, potentially influencing the company's future initiatives in urban development and infrastructure financing.