Adi Godrej on wealth management AUM target
From Godrej Enters Wealth Management Space, Targets ₹ 1 Lakh CR AUM By 2031 · · NDTV Profit
“You rightly stated our goal for the next 5 years is to create an AUM of 100,000 crore in the wealth space. There is a lot of competition, but there is at the same time a lot of opportunity. There's a lot of demand. I think India is a country that's doing very well. If you look at the country's economic growth in the last decade and the expected growth in the next decade and the kind of wealth creation that will result in the kind of financialization that will result in. We think there's going to be huge demand for wealth management services and we'd like to bring the Godrej Group's philosophy of trust based long-term thinking to this industry and combine that with cutting edge a tech and wealth management opportunities and services.”
On , Adi Godrej, Chairman at Godrej Group, spoke about wealth management AUM target 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.