Indian Renewable Energy Development Agency (IREDA) and Housing & Urban Development Corporation Ltd (HUDCO) was conferred the prestigious ‘Navratna’ status by the Department of Public Enterprises (DPE).

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Indian Renewable Energy Development Agency (IREDA) was conferred the prestigious ‘Navratna’ status by the Department of Public Enterprises (DPE). This recognition comes alongside IREDA’s strong financial performance in the January-March quarter, marked by improved margins, better asset quality, and a 32% year-on-year increase in net profit to Rs337 crore. IREDA’s assets under management (AUM) have also witnessed significant growth, rising by 26.8% year-on-year and 18% quarter-on-quarter to Rs59,698 crore.


      Housing & Urban Development Corporation Ltd (HUDCO) was also granted the Navratna status.

      The Indian government grants ‘Navratna’ status, a mark of distinction, to high-performing public sector undertakings (PSUs).

      These PSUs are empowered to make significant investments, up to Rs1,000 crore per project or 30% of their net worth annually (capped at Rs1,000 crore), without central government approval.

 

     


Housing & Urban Development Corporation Ltd (HUDCO)

Founded- 25 April 1970
HQ- New Delhi
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