Godrej Industries announces the launch of Godrej Capital, an investment of ₹ 1,500 cr.| Roadsleeper.com

Godrej Industries announces the launch of Godrej Capital, an investment of ₹ 1,500 cr.| Roadsleeper.com

With an aim to further its ambitions in the financial services sector, Godrej Industries Limited (GIL) today announced the launch of Godrej Capital Limited (GCL). The business will expand its business operations to six new cities this financial year in addition to expanding customer segments and launching new business lines.

GCL is a subsidiary of Godrej Industries and is also the holding company for Godrej Housing Finance (HFC) and Godrej Finance Limited (NBFC). With the immediate goal of building a house 30,000 crore balance sheet by 2026, GIL has committed to investing 1,500 crore in capital and financial services arm, and expects the business to require a total 5,000 crore of equity investment by 2026.

“The company will continue to focus on the growth of secured loans that include home loans and Loans Against Property (LAP). In addition, in order to achieve business goals in the region, this business plans to grow its group by 50% to about 500 people in this financial year,” the company announced in an exchange filing on Monday.

Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon operate in six new cities, namely, Jaipur, Chandigarh, Hyderabad, Chennai, Indore in Surat.

“We started with home loans in selected regions in 2020. Having seen the strong customer acceptance of our offer, we are optimistic about the prospect of our financial services entering new markets and doing to reach across key target groups and customer segments.” said Pirojsha Godrej, CEO, Godrej Capital.

Godrej Capital, for its potential projects, is investing in capacity building through skills, technology and research that will enhance business growth, the company added.

The highest share price of Godrej Industries Limited is 0.5%. 490 each on the BSE in Monday afternoon trade.

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