Bhubaneswar: Odisha State Police Housing and Welfare Corporation Limited (OPHWC) and the Odisha Home Department have signed a Memorandum of Understanding (MoU) for the financial year 2024-25.
The MoU was signed by Soumendra Priyadarshi, Chairman-cum-Managing Director (CMD) of OPHWC, and Satyabrat Sahu, Additional Chief Secretary of Home Department.
The MoU include a targeted turnover of Rs 1,250 crore for the financial year 2024-25, representing a significant increase from the previous year. OPHWC has also been set a target of achieving a 16% growth in profit, amounting to Rs 62.50 crore.
Additionally, OPHWC has committed to sharing its profits, with a target of paying a dividend of Rs 18.75 crore for the financial year 2024-25, marking a 16% increase from the previous year. The corporation has also agreed to complete 700 projects, including 200 in areas affected by left-wing extremism.
Furthermore, OPHWC has set a target of achieving a 50% turnover from departments other than housing for the financial year 2024-25. The corporation has also been advised to comply with all applicable statutory requirements within the stipulated timeframe
