Godrej Industries on Monday announced its foray into the lending business with the launch of Godrej Capital
With the aim of building a world class retail financial services business and a near term aim of building a ₹30,000 crore balance sheet by 2026, Godrej Industries Ltd also plans to invest ₹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 said in a statement.
Godrej Capital currently has operations in Mumbai, Bengaluru, Delhi NCR, Ahmedabad and Pune and will soon be operational in six more cities, including Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat.
Pirojsha Godrej, Chairman, Godrej Capital, said Godrej Capital will form a key pillar in the overall growth of the Godrej Group.
“We started with some 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,” he said.
The company will focus on the growth of secured loans consisting of home loans and Loans Against Property (LAP).