Godrej Capital looks to expand wealth business, gold loans

Godrej Wealth, which launched in June this year in Mumbai and forayed into Delhi on Thursday, is looking to establish a physical presence in eight locations by March 2027 and plans to enter the asset management business next year.

“By March next year, we will look to establish physical presence in eight locations, in the eight largest cities in the country. We started with Mumbai, now Delhi, followed by Pune, Hyderabad, Bangalore this quarter and Chennai, Ahmedabad and Kolkata in the next quarter,” said Manish Shah, MD and CEO, Godrej Capital.

In an interaction with BT, he said the company plans to establish a physical presence in at least 35 locations over the next four years. “This business will see a very heavy use of how tech and particularly AI is used, but we see it being much more useful to make for better conversations for wealth professionals,” he said.

Godrej Wealth is targeting assets under management (AUM) of ₹3,000 crore by March 2027 and aims to reach ₹1 lakh crore in AUM across its wealth and asset management businesses by 2032.

Godrej Capital and Godrej Wealth are part of the Godrej Industries Group. Godrej Investment Limited (GIVL) is the dedicated financial services holding company of the Godrej Industries Group and houses the group’s financial services businesses, including wealth and asset management, housing finance and NBFC lending.

Gold loan expansion

Godrej Capital is also entering the gold loan business after acquiring Kanakdurga Finance’s gold loan business. It will focus on small business and consumer finance in the segment.

“A large part of the gold loan business will be small business finance because it is increasingly used as an asset, which is leveraged for business growth,” Shah said.

The company has set an ambitious target of building a ₹10,000 crore balance sheet in the gold loan segment over the next five years. Shah said the company had initially planned for a ₹5,000 crore balance sheet but has become more bullish on the opportunity.

“We are brand new, but we have an ambition over the next five years to look at a Rs 10,000 crore balance sheet in the segment. Originally our plan was to look at Rs 5,000 crore, but increasingly we feel quite bullish about aiming for Rs 10,000 crore,” he said.

Godrej Capital may also enter the personal loan segment in the future, although it does not plan to focus on small-ticket personal loans of ₹1 lakh or ₹50,000.

The company formally entered the gold loan business in July 2026, with the acquisition completed through Godrej Capital’s subsidiary, Godrej Finance.