Godrej Industries (GIL) has communicated the following –
- GCL, the financial subsidiary of GIL was started in 2020 and since then has been providing home loans in select geographies. It is the holding entity for Godrej Housing Finance (an HFC) and Godrej Finance Limited (an NBFC).
- It is currently present across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities, i.e., Jaipur, Chandigarh, Hyderabad, Chennai, Indore and Surat.
- The Company aims to build a Balance sheet size of Rs 30,000 crore by 2026.
- GIL has committed to invest Rs 1,500 crore of equity and expects a total equity requirement of Rs 5,000 crore by 2026 to achieve the targeted scale of business.
Given Godrej’s reliable track record in building new businesses, I would be watching developments in this space closely. The finance business also has synergies with the group’s other ventures including real estate and consumer durables.