HUDCO expressed its interest in executing this MoU for an investment up to Rs 14,500 crore under Financial Services Sector in the form of financial assistance as per its objectives and guidelines to the State Government of Gujarat for eligible sector projects through term loan for infrastructure projects.

Housing & Urban Development Corporation (HUDCO) is a policy institution that provides housing finance and non-commercial urban infrastructure financing. The company's key mission is to support the construction of affordable housing for lower-income households and the development of non-commercial urban infrastructure (including water supply, road and transport, power, commercial infrastructure). HUDCO conducts its business by balancing profitability with its social mandate.

The company’s consolidated net profit increased 14% to Rs 451.65 crore on 7.7% rise in revenue from operations to Rs 1,880.85 crore in Q2 FY24 over Q2 FY23.