Hyderabad Metropolitan Development Authority Jun ’37
Hyderabad Metropolitan Development Authority Jun ’37 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 8.15%.
Data as of 11 Sept 2026
4% above face value
You pay ₹10,39,297 against a face value of ₹10,00,000, about 4% more. Part of any premium is simply interest accrued since the last coupon, but on this bond that can account for at most about 2% - it pays quarterly at a 8.5% coupon. The remainder is a genuine premium: you are paying above face for the yield on offer, and your capital at risk is the full ₹10,39,297, not the face value.
How this yield compares
About this bond
Hyderabad Metropolitan Development Authority Jun ’37 is a corporate bond issued by a company to raise debt from investors, currently offering a yield to maturity (YTM) of 8.15%. It pays a coupon of 8.5% and matures on 15 Jun 2037, a remaining tenure of about 10.8 yr. It is rated AA, a high credit-safety grade. BondScanner lists this bond with a minimum investment of ₹10.4L.
Its 8.15% yield is solid for its risk band, toward the lower end at 236th of 265 Corporate bonds. That trails the Corporate median of 10.50% by 2.35 points, so the trade-off is lower yield for whatever else this issuer offers. A comparable SBI fixed deposit yields about 6.55%, so this bond adds roughly 1.60 points for taking on credit risk. Its long 10.8 yr horizon locks in today's yield well into the future - useful if rates fall, a drag if they rise. Paired with its very high safety (AA) rating, that leans toward the safety-first end. Compare it against similar bonds on RightBonds before investing.
Investors comparing this bond often also look at Muthoot Fincorp (INE549K08590) at 10.5%, Muthoot Fincorp (INE549K08632) at 10.4% and Muthoot Fincorp (INE549K08533) at 10%.
About Hyderabad Metropolitan Development Authority
Hyderabad Metropolitan Development Authority (HMDA) is the statutory urban development authority for the Hyderabad Metropolitan Region, set up in August 2008 under the Hyderabad Metropolitan Development Authority Act, 2008 by merging the erstwhile HUDA, HADA, Cyberabad Development Authority and Buddha Poornima Project Authority. It became operational on 25 August 2008 and its jurisdiction covers about 7,257 square kilometres across seven districts, 70 mandals and 1,032 villages. HMDA plans, coordinates and executes infrastructure and land development in the region and is administered by the Municipal Administration and Urban Development department of the Government of Telangana, with the Chief Minister as its Chairman. Its bonds carry an unconditional and irrevocable guarantee from the Government of Telangana with a direct debit mechanism on the state, and are further backed by a structured payment mechanism with an escrow, a Bond Servicing Account and a debt service reserve account covering two quarters of peak servicing. Acuite rates the guaranteed bond programmes, sized at Rs 5,000 crore per tranche, at ACUITE AA+ (CE) with a Stable outlook. HMDA reported an operating income of Rs 444.22 crore and a net loss of Rs 995.20 crore in FY25, with very low gearing at 0.04 times total debt to tangible net worth.
Bond details
What you keep after tax
Interest on a listed corporate bond is added to your income and taxed at your slab, so the 8.15% headline is a pre-tax number. Here is the same bond seen from each slab, on ₹1,00,000 held for the remaining 10.8 yr.
| Your tax slab | Post-tax yield | ₹1,00,000 becomes |
|---|---|---|
| No tax (income under the exemption limit) | 8.15% | ₹2,32,321 |
| 5% slab | 7.74% | ₹2,23,074 |
| 20% slab | 6.52% | ₹1,97,301 |
| 30% slab | 5.71% | ₹1,81,652 |
At a 8.5% coupon, ₹1,00,000 of face value pays about ₹8,500 of interest a year, under the ₹10,000 Section 193 threshold, so no TDS is withheld.
Slab rates only - surcharge and cess are not included, and the figures assume you hold to maturity. Sold on the exchange after 12 months instead, the gain is taxed as long-term capital gains at 12.5%. Not tax advice.
Against a fixed deposit, in rupees
Same ₹1,00,000, same 10.8 years, one in this bond and one in a tenure-matched SBI fixed deposit at 6.55%.
Bond figure compounds the yield annually; the FD compounds quarterly, as a cumulative bank FD does. Both are pre-tax and assume the bond is held to maturity and the issuer pays in full - the AA credit risk is the reason for the gap.
When you get paid
Interest lands 4 times a year, in Mar, Jun, Sep, Dec, with about 44 payments still to come before 15 Jun 2037, each at the 8.5% coupon rate.
Payment months come from the issuer's schedule. Exact dates within the month, and the amount per payment, depend on the face value of the units you buy - check the term sheet on BondScanner before investing.