Godrej Capital launched by Godrej Industries; commits to invest Rs 1,500 cr
- ByStartupStory | April 12, 2022
On Monday, the launch of Godrej Capital Limited (GCL) was announced by Godrej Industries, which runs many businesses, including chemicals, consumer products and real estate.
The company aims to scale up its ambition in the financial services sector, with this launch. Entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC) will be held by GCL.
GIL has committed to invest Rs 1,500 crore in the capital in GCL, with the ultimate aim of building a world-class retail financial services business and by 2026 a near term aim of building a Rs 30,000 crore balance sheet, the company said.
Pirojsha Godrej, Chairman, Godrej Capital, said in a statement that in the overall growth of the Godrej Group, Godrej Capital will form a key pillar. In 2020, they started with home loans in select geographies. Having seen strong customer acceptance of their offering, about the prospects of our financial services venture they are very optimistic and they will be entering new markets and enhancing their reach across key target sectors and consumer segments.
Currently, Godrej Capital has its footprint across Delhi NCR, Mumbai, Bengaluru, Ahmedabad, and Pune and it will soon be operational in six new cities– Chennai, Jaipur, Chandigarh, Hyderabad, Indore and Surat.
The company said that the growth of secured loans consisting of home loans and Loans Against Property (LAP), will be continued to focus on. Additionally, in this financial year the business aims to grow its team by 50 per cent to approximately 500 people in order to fulfil business and geographic aspirations.
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