Godrej to enter non-banking lending business
MUMBAI : The 125-year-old Godrej group has entered into the lending business launching its unit Godrej Capital Limited, which will be a subsidiary of Godrej Industries Limited. Godrej Capital will be the holding entity for Godrej Housing Finance and Godrej Finance Limited, its non-banking financial company (NBFC), Godrej group said in a statement. Godrej Finance held a NBFC licence since 1998, when it was known as Ensemble Holdings and Finance; however, it has never been active in the lending space. Godrej Industries has now committed to invest Rs 1,500 crore in capital in Godrej Capital. With its retail financial services business, the $4.1 billion conglomerate group has a near-term aim to build Rs 30,000 crore balance sheet by 2026, the statement further said. Godrej Capital currently has its footprint across Mumbai, Bengaluru, Delhi NCR, Ahmedabad, and Pune and will soon be operational in six new cities, i.e., Jaipur, Chandigarh...