Housing and Urban Development Corporation Limited appointed Shri Sanjay Kulshrestha, presently Executive Director (ED), REC Limited as Managing Director, HUDCO for a period of five years with 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 16th October, 2023 (A/N). Further, Shri Kuldip Narayan, Joint Secretary (HFA), Ministry of Housing and Urban Affairs holding the additional charge of Chairman & Managing Director, HUDCO ceased to be the Director of the Company in accordance with the Office Order dated 16th October, 2023 issued by the Ministry of Housing and Urban Affairs, Government of India.

Shri 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. Last but not the least, he has also been closely associated with the CMD, REC for Business Development, Strategy and Coordination works.