Godrej Group Forays in the Financial Services Sector

The Godrej Group has announced its entry into the financial services industry. With Godrej Housing Finance (GHF), the Group aims to build a long term, sustainable retail financial services business in India, aiming for a balance sheet of Rs 10,000 crore in the next three years, the company said in a statement. Godrej Housing finance will offer fair, fast and flexible home loans across India starting with customers in Mumbai, NCR, Pune and Bangalore. GHF will partner with developers including Godrej Properties, to build a superior financing experience for their existing and new customers. Godrej Housing Finance’s product offerings are guided by three pillars - flexibility (enabling customers to customise the payment of their own contribution and EMI schedule), affordability (offering competitive pricing with lowest interest rates starting at 6.69%) and personalisation (using data-driven decision making to micro segment customers and tailor-made loan offerings). Godrej Housing Finance intends to focus on the mortgage business starting with home loans, followed shortly by Loans Against Property. In the near future, the company will expand its product portfolio to offer Business and Personal loans, leveraging the Group’s consumer and agri business ecosystems to build these verticals.