Godrej Industries (GIL) has launched Godrej Capital (GCL) with the aim of scaling up in the financial services sector. The company has committed to invest Rs 1,500 crore in capital in GCL.
GCL is a subsidiary of GIL and is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance (an NBFC). It aims to build Rs 30,000 crore balance sheet by 2026.
Pirojsha Godrej, chairman, Godrej Capital, said, “We started with home loans in select geographies in 2020. Having seen strong customer acceptance of our offering, we are very optimistic about the prospects of our financial services venture and will be entering new markets and enhancing our reach across key target sectors and consumer segments.”
The company will continue maintaining focus on the growth of secured loans consisting of home loans and Loans Against Property (LAP). Additionally, to fulfil business and geographic aspirations, the business aims to grow its team by 50% to approximately 500 people in this financial year.
Manish Shah, MD & CEO, Godrej Capital, said, “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. This has inspired us to grow our footprint and to broaden our service offerings to different customer segments through affordable housing loans and unsecured loans.”
Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities, i.e., Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat.
