Godrej Industries (GIL) has announced the launch of Godrej Capital (GCL), a subsidiary of GIL and the holding entity for Godrej Housing Finance and Godrej Finance, with the goal of expanding its prospects in the financial services sector. GIL has committed to investing Rs 15 billion in GCL with the objective of building a Rs 300 billion balancesheet by 2026.
Pirojsha Godrej, Chairman, Godrej Capital, said, “Godrej Capital will form a key pillar in the overall growth of the Godrej Group. 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. 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.
