Godrej Industries, which runs many businesses, including chemicals, consumer products, and real estate, on Monday announced the launch of Godrej Capital Limited (GCL).
With this launch, the organization aims to scale up its ambition in the financial services sector. GCL will be the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (a NBFC).
With the ultimate aim of building a top notch retail financial services business and a close to term point of building a ₹30,000 crore accounting report by 2026, GIL has committed to invest ₹1,500 crore in the capital in GCL, the organization said.
“Godrej Capital will form a key pillar of support in the general growth of the Godrej Group. We began with home loans in select geographies in 2020. Having seen strong customer acceptance of our contribution, we are extremely hopeful about the prospects of our financial services journey and will enter new markets and enhance our reach across key target sectors and consumer segments,” said Pirojsha Godrej, Chairman, Godrej Capital.
Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be functional in six new urban cities Jaipur, Chandigarh, Hyderabad, Chennai, Indore, and Surat.