Adi Godrej on financial services investment
From Godrej Enters Wealth Management Space, Targets ₹ 1 Lakh CR AUM By 2031 · · NDTV Profit
“So overall in the financial services space counting what we've already invested and what we expect to invest over the next few years, it'll be about 7,000 crore in total. A A of that has already happened in the lending businesses. If you look at the wealth management space, it's actually very asset light fee generating business. So there is no great investment expected. Largely the investment is around technology on the one hand and people on the other. So we think the investment at most would be around 500 crore in the wealth management business.”
On , Adi Godrej, Chairman at Godrej Group, spoke about financial services investment 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.