- Godrej Capital is the financial services arm of the Godrej Group and aims to build a balance sheet of ~INR 30,000 crores by 2026
- The company will expand its retail operations into six new cities this fiscal year, in addition to diversifying customer segments and launching new business lines.
- Godrej Industries is committed to infusing INR 1,500 crores in his financial services business and expects the business to require a total of INR 5,000 crores in equity investments by 2026
Mumbai, India, April 15, 2022 /PRNewswire/ — In an effort to increase its ambition in the financial services sector, Godrej Industries Limited (GIL) has announced the launch of Godrej Capital Limited (GCL). GCL is a subsidiary of GIL and is the holding entity of Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). With the ultimate goal of building a world-class retail financial services business and a short-term goal of building a balance sheet of INR 30,000 crore by 2026, GIL is committed to investing INR 1,500 crores in the capital of GCL.
Godrej Capital is currently established in Mumbai, Bengaluru, Delhi NCR, Ahmedabad and Pune and will soon be operational in six new cities, namely Jaipur, Chandigarh, Hyderabad, ChennaiIndore and Surat.
Speaking on development, Pirojsha Godrej, President, Capital of Godrejsaid: “Godrej Capital will be a key pillar in the overall growth of the Godrej Group. We started with real estate loans in certain geographies in 2020. Having seen strong customer acceptance of our offering, we are very optimistic about the prospects for our financing services business and will enter new markets and strengthen our reach in key target sectors and consumer segments.”
The company will continue to focus on growing secured lending comprised of home loans and loans against property (LAP). Additionally, to meet business and geographic aspirations, the company aims to grow its team by 50% to approximately 500 people this fiscal year.
Manich ShahCEO and CEO, Capital of Godrejsaid, “We have successfully implemented a digital-first approach at Godrej Housing Finance through innovative products such as Design Your EMI and end-to-end contactless solutions delivered digitally. It inspired us to grow our footprint and expand our service offerings. to different customer segments through affordable home loans and unsecured loans. We envision Godrej Capital becoming a new era, leading retail financial services institution in the coming years.
Speaking on occasion, Deepak GoradiaManaging Director at Dosti Realty Ltd., said: “This development comes at a time when clients are looking to rekindle their home and business aspirations that have been on hold due to the ongoing pandemic. Godrej Capital’s entry into affordable housing and business lending unsecured will further expand the availability of credit to Target Partners like us and the real estate industry in general tend to benefit from such offerings and we look forward to the innovation that Godrej Capital will bring to the market.”
Rahul SootaExecutive Director, MyMoneyMantra, added: “An increase in demand for housing finance across all segments and the related shift to virtual engagements due to pandemic-related restrictions has resulted in contactless engagements across the consumer cycle. Godrej Capital would play an important role in fundraising through its proprietary technology and data-driven approach across all consumer segments Coupled with Godrej Group’s heritage of trust and service delivery, Godrej Capital’s product offering will benefit greatly to all their business partners and end users.”
Godrej Capital, for scalable operations, invests in building capacity through talent, technology and analytics that will fuel business growth.
About Godrej Capital:
Godrej Capital is the financial services arm of the Godrej Group. It is a subsidiary of Godrej Industries and the holding company of Godrej Housing Finance & Godrej Finance.
With a digital-first approach and a strong focus on customer-centric product innovation, Godrej Capital offers home loans and loans against property and is positioned to diversify into other customer segments and products. The company is focused on building a sustainable, long-term retail financial services business in Indiarooted in the Godrej Group’s 125-year legacy of trust and excellence.
Godrej Capital pays particular attention to the learning and development of its employees and is committed to making diversity, equity and inclusion a guiding principle. Its entity, GHF, is Great Place to Work® certified and has also been recognized by Economic Times as the best organization for women for 2022.
Godrej Capital currently has its footprint through BombayBengaluru, Delhi NCR, Ahmedabad and Pune. It will soon be operational in Chandigarh, Hyderabad, ChennaiIndore, Surat and Jaipur.
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SOURCEGodrej Industries Limited