Godrej Capital Ventures into Affordable Housing

Godrej Capital, part of the Godrej Group, is set to enter the affordable housing loan market, aiming to grow its assets under management to Rs 17,000 crore by 2024 and Rs 30,000 crore by 2026. The expansion aligns with India's 'Housing for All' mission.

Godrej Capital, the financial services arm of the Godrej Group, is making a strategic move into the affordable housing loan segment. The company aims to expand its assets under management (AUM) from the current Rs 13,000 crore to Rs 17,000 crore by the end of 2024, with a long-term goal of reaching Rs 50,000 crore by March 2028, according to Managing Director Manish Shah.

Focusing on smaller loan amounts to cater to affordable homebuyers, Godrej Capital plans to launch its affordable housing loans in one or two states initially, expanding based on customer response. This move aligns with the government's 'Housing for All' mission, providing essential financing options for lower-income buyers.

In addition to affordable housing, the company's growth strategy includes serving small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs). The firm has already initiated a dairy farmer financing program, leveraging its group firm Creamline Dairy, and is eyeing an IPO within the next three-and-a-half years. Godrej Capital registered a profit of Rs 55 crore last year and aims for Rs 175 crore in profit before taxes this financial year.

(With inputs from agencies.)