M Ravi Kanth, chairman and managing director, HUDCO presented the dividend cheques for the financial year 2014-15 to M Venkaiah Naidu minister for Urban Development, Housing and Urban Poverty Alleviation and Parliamentary Affairs in the presence of Nandita Chatterjee, secretary (HUPA), Madhusudan Prasad, secretary (UD) and the government directors on HUDCO Board, RR Mishra and Jhanja Tripathy.
HUDCO has declared a total dividend of Rs 120.50 crore (inclusive of dividend tax of Rs 20.49 crore) for the financial year 2014-15 to the government of India. Out of the total dividend, Rs 69.20 crore is paid to the ministry of housing and urban poverty alleviation, Rs 10.08 crore is paid to the ministry of urban development and Rs 20.73 crore is payable to the ministry of rural development, Government of India.
In the financial year 2014-15, HUDCO registered highest ever profit after tax of Rs 777.63 crore.