HUDCO Promotes Reva Sethi To CFO

In a recent corporate disclosure, the Housing and Urban Development Corporation Limited (HUDCO) announced the appointment of Reva Sethi as its new CFO. The announcement was made on Friday.

What Happened: The decision was taken during a board meeting held on Friday. Sethi, who was previously serving as the executive director (Finance) at HUDCO, will take up her new role with immediate effect.

The terms and conditions of Ms. Sethi’s appointment, including her remuneration, will be in line with the existing policy of the company, the company added in the filing. Sethi, a commerce graduate and an associate member of the Institute of Cost Accountants of India (ICMAI), brings over three decades of professional experience in various key roles within HUDCO.

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HUDCO is a policy institution providing housing finance and non-commercial urban infrastructure financing, regulated by the National Housing Bank and under the administrative control of the Ministry of Housing and Urban Affairs.

The state-owned company reported a 9.54% increase in consolidated net profit, reaching ₹700.16 crore for the quarter ended March 2024, up from ₹639.14 crore in the same period last year. Total income for the March 2024 quarter rose to ₹2,194.04 crore, compared to ₹1,862.41 crore a year ago.

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