Godrej forays into housing finance

The Godrej Group on November 10 announced its entry into the financial services industry.

With Godrej Housing Finance (GHF), the Group aims to build a long-term and sustainable retail financial services business aiming for a balance sheet of Rs 10,000 crore in the next three years, said a press release issued by the Group. .

It said the Godrej Housing Finance will offer fair, fast and flexible home loans across the country starting with customers in Mumbai, NCR, Pune and Bengaluru. GHF will partner with developers, including Godrej Properties, to build a superior financing experience for their existing and new customers.

Commenting on the launch, Pirojsha Godrej, Chairman, Godrej Housing Finance, said: “We are excited to launch our financial services business today.  This is the first step in what we hope will be another important pillar of growth for the Godrej Group. The increasing formalisation of the real estate sector combined with the dislocation in the residential real estate and housing finance markets makes this a particularly interesting opportunity at the current moment.”

Manish Shah, Managing Director and CEO, Godrej Housing Finance, added: “We believe that the Housing Finance market is underpenetrated and underserved. The industry is also plagued with being complex and convoluted with hidden conditions and painfully long customer journeys. We aim to correct this and usher a refreshingly simple and transparent way of doing business. We want to give customers a home loan that is customised to what’s important to them, basis their housing needs, financial capability and convenience.”