Adi Godrej on financial services expansion
From Godrej Enters Wealth Management Space, Targets ₹ 1 Lakh CR AUM By 2031 · · NDTV Profit
“Financial services is actually an area we see a huge amount of opportunity in India. We entered financial services about 5 years ago through our lending businesses. We now have both an NBFC and a housing finance company under Godrej Capital. And and we felt the wealth management was a logical next step in our financial services journey.”
On , Adi Godrej, Chairman at Godrej Group, spoke about financial services expansion during Godrej Enters Wealth Management Space, Targets ₹ 1 Lakh CR AUM By 2031 on NDTV Profit.
About Adi Godrej
Adi Godrej announced the launch of Godrej Wealth, a wealth management business targeting ₹1 lakh crore in assets under management by 2031. He described financial services as an area of significant opportunity in India and said wealth management was a logical next step after entering lending businesses five years ago through Godrej Capital, which includes an NBFC and a housing finance company. Godrej stated the investment in the wealth management business would be at most around ₹500 crore, focused on technology and personnel. Godrej also said Godrej Capital is expected to list within five years, by March 2031, with the exact timing dependent on market conditions and business performance. He noted that the group plans to enter allied businesses such as asset management over the next few years, but will proceed step by step. In Godrej Consumer Products, he mentioned a recent small acquisition of the men's face wash brand Must Talk.