Godrej Industries to invest ₹1,500 crore in Godrej Capital

Godrey Industries Ltd. (GIL) on Monday announced the disclosure of Godrej Capital Ltd. (GCL), focused on an important role in financial services.

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 near term, GCL would build up a balance sheet of 30,000 crore by 2026 and invest ₹1,500 crore in capital in GCL.

Pirojsha Godrej, Chairman of Godrej Capital, said: “Godrej Capital will be an important pillar in the overall growth of the Godrej Group. We started home loans in selected regions in 2020. Now that we have strongly accepted our offer, we are very optimistic about the prospects for our financial services. We will enter new markets and expand our reach in key target sectors and consumer segments. †

The company will continue to focus on growing secured loans comprising home and real estate loans (LAP).

In addition, to fulfill business and geographic ambitions, the company aims to grow its team by 50% this fiscal year to approximately 500 people.

Manish Shah, MD & CEO, 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 contactless solutions delivered digitally. “

“This has inspired us to increase our footprint and expand our service offering to different customer segments through affordable housing loans and unsecured loans. We envision Godrej Capital becoming a new-age, leading retail financial services institution in the coming years,” he added.

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