Godrej Industries Ltd. (GIL) on Monday announced the unveiling of Godrej Capital Ltd. (GCL), which aims to play a significant role in the financial services sector.
GCL, a subsidiary of GIL, is the holding company of Godrej Housing Finance (an HFC) and Godrej Finance Ltd (an NBFC).
The company said that in the short term, by 2026, GCL would build a balance sheet of 30,000 crore and invest 1,500 crore in equity in GCL.
Pirojsha Godrej, Chairman of Godrej Capital, said: “Godrej Capital will be an important pillar for the overall growth of Godrej Group. We started home loans in select regions in 2020. Having experienced strong customer acceptance of our offering, we are very optimistic about the prospects of our financial services company and will expand into new markets and expand our reach in key target sectors and consumer segments. ”
The company will continue to focus on growing secured lending, consisting of home loans and loans against real estate (LAP).
Additionally, the company is targeting to grow its team by 50% to approximately 500 employees this fiscal year to meet its business and geographic ambitions.
Manish Shah, MD & CEO of 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 digitally delivered contactless solutions.”
“This has inspired us to expand our footprint and broaden our service offering to diverse customer segments through affordable home loans and unsecured loans. We envision Godrej Capital becoming a leading retail financial services institution of the new age in the coming years,” he added.