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Housing and Urban Development Corporation Ltd. (HUDCO) has announced two major developments that reinforce its role in India’s urban transformation. The company has appointed Shri Baldeo Purushartha as Government Nominee Director and signed a Rs11,300 crore Memorandum of Understanding (MoU) with the Nagpur Metropolitan Region Development Authority (NMRDA) to support infrastructure and housing projects over the next five years.
Shri Purushartha, a 2002 batch IAS officer of the Punjab cadre, currently serves as Joint Secretary in the Department of Economic Affairs, Ministry of Finance. His appointment was approved by HUDCO’s Board of Directors through a resolution passed by circulation, following an order from the Ministry of Housing and Urban Affairs. Known for his contributions to urban governance, Purushartha was awarded by the Prime Minister for making Chandigarh the first Million Plus Open Defecation Free (ODF) city.
He holds a postgraduate degree from the University of Delhi and represents the Government of India on the boards of several Central Public Sector Enterprises. He does not hold any shares in HUDCO and is not related to any other board members.
In a parallel development, HUDCO signed a non-binding MoU with NMRDA in Mumbai to explore funding support of up to Rs11,300 crore over five years. The funds will be directed toward land acquisition, housing, and infrastructure development in the Nagpur Metropolitan Region. HUDCO will also provide consultancy services and capacity-building support to strengthen NMRDA’s execution capabilities.
The MoU signing ceremony was attended by key dignitaries including Shri Devendra Fadnavis, Chief Minister of Maharashtra; Shri Eknath Shinde, Deputy Chief Minister; and Shri Sanjay Kulshrestha, Chairman & Managing Director of HUDCO.
This strategic partnership is expected to accelerate growth in Nagpur’s urban landscape, aligning with HUDCO’s broader mission to support sustainable development across India. The move also follows HUDCO’s earlier Rs1.5 lakh crore commitment to MMRDA, reinforcing its position as a leading infrastructure financier in Maharashtra.
