Housing and Urban Development Corporation (HUDCO) has announced that it has posted its highest ever net profit in 2009-10 financial year. In a filing at the Bombay Stock Exchange, HUDCO has declared this fact. During the fiscal year of 2009-10, it has registered a significant net profit of Rs 495.31 crore.

The company has also said that, the recorded net profit figure is the highest figure for the company since its inception in the year 1970. The 2009-10 fiscal has been highly impressive for the firm and it had approved loans worth Rs 16,623 crore during this period of time.

Moreover, it has also announced that its board had decided to pay a dividend of Rs 59.08 crore to the government for this year. This is a record amount to be precise.

HUDCO Chairman and Managing Director P K Mohanty had presented the dividend cheque to Kumari Selja who is the Minister of State for Housing and Urban Poverty Alleviation. Mr. P K Mohanty is also the Additional Secretary of the ministry.