- Sanjay Kulshrestha is the Chairman and Managing Director (CMD) of HUDCO, appointed on October 16, 2023.
- He is an electrical engineer, likely from Jabalpur Engineering College, with over 32 years of experience in infrastructure.
- Before HUDCO, he worked 17 years at REC Limited, focusing on power sector financing.
- His leadership at HUDCO includes securing IFC status, reducing funding costs, and aiming to triple the loan book by 2030.
- An unexpected detail is his focus on technology, like AI and ML, to enhance project appraisals and operations.
Background
Early Career and Education
Sanjay Kulshrestha is an electrical engineer, with his education likely from Jabalpur Engineering College, based on available professional profiles. His career began with roles in multinational companies, state PSUs, private sector firms, and central PSUs, spanning over 32 years in infrastructure, particularly in power generation, transmission, and distribution.
Previous Roles
Before joining HUDCO, Kulshrestha spent 17 years at REC Limited, a Maharatna NBFC under the Government of India. There, he led business operations, headed the CSR arm, and managed the consultancy subsidiary, specializing in infrastructure financing, hedging, risk management, and power sector project financing.
Current Role at HUDCO
Appointed as CMD of HUDCO on October 16, 2023, Kulshrestha has driven significant growth. HUDCO, a Navratna CPSE under the Ministry of Housing and Urban Affairs, focuses on housing and urban infrastructure. His vision aligns with Viksit Bharat 2047, aiming for world-class infrastructure.
Achievements and Future Plans
First-Year Milestones
In his first year, he secured Infrastructure Finance Company (IFC) status from the RBI, reduced the cost of funds by 35-36 basis points, increased loan sanctions from ₹25,000 crore to ₹82,000 crore, doubled disbursements, and boosted income by 30% with a 15% asset increase.
Technology and Innovation
Kulshrestha is pushing for technological advancements, including a paperless e-office, ERP implementation, and integrating AI and ML for compliance, asset-liability management, and project appraisals, which is a modern approach in infrastructure financing.
Future Vision
His plans include tripling HUDCO’s loan book from ₹1 lakh crore to ₹3 lakh crore by 2030, aligning with PMAY 2.0 for housing for all in five years, and raising $448 million from the Japanese market at competitive rates, showcasing international funding strategies.
Social Responsibility and Financing Approach
He commits 2% of earnings to CSR for underprivileged sections and adopts an inclusive financing approach, open to both private and public projects. HUDCO has recruited 766 officers with expertise to support expansion, ensuring robust operational capacity.
Detailed Biography of Sanjay Kulshrestha, CMD of HUDCO
Sanjay Kulshrestha’s journey in the infrastructure sector is marked by a blend of technical expertise, strategic leadership, and a vision for sustainable urban development. As of March 22, 2025, his role as Chairman and Managing Director (CMD) of the Housing and Urban Development Corporation Limited (HUDCO) positions him at the forefront of India’s efforts to enhance housing and infrastructure, aligning with national goals like Viksit Bharat 2047.
Educational Background and Early Career
Kulshrestha is an electrical engineer, with his education likely completed at Jabalpur Engineering College, as indicated by professional profiles on platforms like LinkedIn . His early career included roles in multinational companies, state public sector undertakings (PSUs), private sector firms, and central PSUs, amassing over 32 years of experience. His initial focus was on power generation, transmission, and distribution, laying a strong foundation in infrastructure financing.
Professional Journey Before HUDCO
Prior to HUDCO, Kulshrestha’s 17-year tenure at REC Limited, a Maharatna NBFC under the Government of India, was pivotal. He led business operations, headed the Corporate Social Responsibility (CSR) arm, and managed the consultancy subsidiary. . This period honed his skills in techno-commercial appraisals and implementing government schemes, particularly in the power sector.
Appointment and Role at HUDCO
On October 16, 2023, Kulshrestha was appointed CMD of HUDCO, a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Housing and Urban Affairs. HUDCO’s mandate includes financing housing and urban infrastructure projects, and Kulshrestha’s leadership has been instrumental in expanding its scope. His vision to enhance HUDCO’s role in creating world-class infrastructure, aligning with Viksit Bharat 2047, which aims for a developed India by 2047.
First-Year Achievements
In his first year, Kulshrestha achieved several milestones, as highlighted in interviews with media outlets. He secured Infrastructure Finance Company (IFC) status from the Reserve Bank of India (RBI), enhancing HUDCO’s capabilities in infrastructure financing . He reduced the cost of funds by 35-36 basis points, making financing more affordable. Loan sanctions surged from ₹25,000 crore to ₹82,000 crore, disbursements doubled, and the company’s income increased by 30% with assets growing by 15%, reflecting robust financial performance.
Technological and Operational Innovations
A notable aspect of his leadership is the integration of technology. HUDCO is transitioning to a paperless e-office, implementing Enterprise Resource Planning (ERP) systems, and leveraging Artificial Intelligence (AI) and Machine Learning (ML) for compliance, asset-liability management, and project appraisals. This modern approach, detailed in recent interviews, aims to enhance efficiency and reduce environmental impact, positioning HUDCO as a tech-savvy financier in the infrastructure space.
Future Plans and Strategic Vision
Kulshrestha’s strategic vision includes tripling HUDCO’s loan book from ₹1 lakh crore to ₹3 lakh crore by 2030, a significant expansion to meet growing infrastructure needs. He is aligning HUDCO with Pradhan Mantri Awas Yojana (PMAY) 2.0, aiming to ensure housing for all within five years, as mentioned in business reports . Additionally, he raised $448 million from the Japanese market at competitive rates, diversifying funding sources and reducing costs, showcasing international financial strategy.
Social Responsibility and Financing Approach
Kulshrestha is committed to social responsibility, with HUDCO dedicating 2% of earnings to CSR initiatives for underprivileged sections, as noted in leadership discussions. His financing approach is inclusive, open to both private and public sector projects, with a cautious yet progressive expansion strategy. To support this, HUDCO has recruited 766 officers with specialized expertise, ensuring operational capacity to handle increased demands, as reported in recent media coverage.
Vision for Viksit Bharat 2047
His overarching goal is to position HUDCO as a key player in creating world-class infrastructure, diversifying the resource base, improving liquidity, reducing funding costs, entering international markets for competitive lending, and offering 360° solutions for infrastructure needs. This aligns with national development goals, emphasizing sustainable and resilient urban transformation.
Comparative Table: Key Metrics Under Kulshrestha’s Leadership
To illustrate his impact, here’s a table comparing key financial metrics before and during his tenure at HUDCO:
| Metric | Pre-Appointment (FY22-23) | First Year at HUDCO (FY23-24) | Change |
|---|---|---|---|
| Loan Sanctions (₹ crore) | 25,000 | 82,000 | +228% |
| Disbursements (₹ crore) | Not specified | Doubled from previous | Significant Increase |
| Income Growth | Baseline | +30% | +30% |
| Asset Growth | Baseline | +15% | +15% |
| Cost of Funds (bps) | Not specified | Reduced by 35-36 bps | Improved Efficiency |
This table highlights the transformative impact of his leadership, particularly in scaling operations and financial performance.
Conclusion
Sanjay Kulshrestha’s leadership at HUDCO is characterized by strategic growth, technological innovation, and a commitment to national development goals. His extensive experience, coupled with a forward-looking vision, positions him as a key figure in India’s infrastructure landscape, driving urban and housing development towards a sustainable future.