Housing and Urban Development Corporation Limited (HUDCO) announced the appointment of Sanjay Kulshrestha as Chairman and Managing Director of the company, with effect from October 16, 2023.
According to the company’s exchange filing, “The President of India acting through Administrative Ministry, i.e., Ministry of Housing and Urban Affairs (MoHUA), Government of India, vide its Office Order No. A-42012(12)/1/2021- AA (E-9115243) dated 16™ October, 2023 (Annexure-A) conveyed that the Competent Authority, in exercise of the powers conferred under Atticle 39(f) read with Article 39(g) of the Article of Association of the Housing and Urban Development Corporation Limited (HUDCO), is pleased to appoint Shri Sanjay Kulshrestha, presently Executive Director (ED), REC Limited as Chairman & Managing Director, HUDCO for a period of five years with effect from the date of assumption of charge of the post, or until further orders, whichever is the earliest. Shri Sanjay Kulshrestha has assumed the charge as CMD, HUDCO on 16″ October, 2023 (A/N).”
Sanjay Kulshrestha is an Electrical Engineer with 32+ years of expertise in thermal power, plant management, and Power Sector project financing. For the first 15 years, he has worked in the areas of power project execution, high voltage sub stations and transmission lines, at both state as well as private sectors. In 2006 he joined REC, initially at Mumbai and later moved to Delhi headquarters, where he has been a power sector financing expert for the last 17 years, where he has managed the techno-commercial appraisal of power sector projects, and pioneered, implementation of multiple government schemes.
In the last few years, he has acted as the business head for state operations as well as, private sector project management (Generation, T&D and Renewables). Additionally, he has been a member of various committees on Hedging, Risk, Infrastructure Financing, ALM, etc. and has been working in close coordination with Ministry of Power, State Governments & power utilities, Private developers, RBI and Multilateral Development Banks. Additionally, he has acted as the CEO of RECPDCL, an REC Subsidiary working in power sector consultancy services. Furthermore, under his leadership as the head of REC Foundation, CSR Wing of REC, the Company’s impact has been extensive in the areas of health, nutrition and women empowerment clubbed with nation-wide initiatives for uplifting of sports in India.
The Housing and Urban Development Corporation Limited, abbreviated as HUDCO, is an Indian public sector undertaking engaged in housing finance and infrastructure project finance.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.