The Business Bytes
TBB BUREAU
MUMBAI, APRIL 11, 2022
With the aim of scaling up its ambition in the financial services sector, Godrej Industries Limited (GIL) today announced the launch of Godrej Capital Limited (GCL).
GCL is a subsidiary of Godrej Industries and is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC). With a near-term aim of building an Rs 30,000 crore balance sheet by 2026, GIL has committed to invest Rs 1,500 crore in capital in the financial services arm, and expects the business to require a total of Rs 5,000 crore of equity investment by 2026.
Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities — Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat.
“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,” said Pirojsha Godrej, Chairman, Godrej Capital.
“We envision Godrej Capital becoming a new-age, leading retail financial services institution in the years ahead,” said Manish Shah, MD & CEO, Godrej Capital.
Godrej Capital, for scalable operations, is investing in building capabilities through talent, technology and analytics that will power business growth, the company added.
