Godrej Industries on Monday announced the launch of Godrej Capital with an aim to build a world-class retail financial services business in the segment, the company said in its filing to the exchanges.  

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Godrej Capital, a subsidiary of Godrej Industries, is the holding entity for Godrej Housing Finance and Godrej Finance Limited.  

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The parent company has committed to invest Rs 1,500 crore capital in Godrej Capital and has an aim of building a Rs 30,000 crore balance sheet by 2026. 

While speaking with Zee Business Executive Editor Swati Khandelwal Jain, Godrej Capital Chairman Pirojsha Godrej, said, “The ultimate goal is to build a large retail financial services business, which will only get slight benefit from its relationship with other group entities.” 

The company will see opportunities to partner with various parts of the group ecosystem, for example, partnering Godrej Properties customers with Godrej Finance, he added. 

Godrej Industries started with home loans in select geographies in 2020. “Having seen strong customer acceptance of our offering, the aim is to enter new markets and enhance its reach across key target sectors and consumer segments”, the company’s chairman said. 

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

“We started with home finance to help people to buy their homes and give them a better financing solution and option. Going forward, we will move to small businesses,” Manish Shah, MD & CEO, Godrej Capital told Jain. 

The small business segment is so large that there are individual customer segments and product offerings, the MD & CEO said, adding further that the company envisions becoming a new-age, leading retail financial services institution in the years ahead. 

Godrej Capital offers home loans and loans against property and is positioned to diversify into other customer segments and products and focused on building a long-term, sustainable retail financial services business in India, the exchange filing said.