𝘎𝘰𝘥𝘳𝘦𝘫 𝘊𝘢𝘱𝘪𝘵𝘢𝘭 𝘈𝘤𝘩𝘪𝘦𝘷𝘦𝘴 100% 𝘎𝘳𝘰𝘸𝘵𝘩; 𝘛𝘢𝘮𝘪𝘭𝘯𝘢𝘥𝘶 𝘮𝘢𝘳𝘬𝘦𝘵 𝘋𝘳𝘪𝘷𝘦𝘴 𝘐𝘵𝘴 𝘌𝘹𝘱𝘢𝘯𝘴𝘪𝘰𝘯

Chennai, February 7, 2024: Godrej Capital, the financial services arm of the Godrej Industries Group, has achieved 100% growth over the past year in Tamil Nadu. The South contributes more than 30% to Godrej Capital's INR 15,000 crore business, with Tamil Nadu accounting for INR 800 crore in Assets Under Management (AUM), highlighting Chennai as a critical growth market. Tamil Nadu remains central to Godrej Capital’s long-term vision, with the state expected to play a significant role in achieving the company’s goal of a balance sheet of INR 30,000 crore by 2026.

Manish Shah, MD and CEO of Godrej Capital

The company has been focusing on empowering the Micro, Small, and Medium Enterprises (MSME) sector, with Chennai emerging as a key market for the company’s expansion strategy in the state. Over the last year, Godrej Capital has increased its network of channel partners in Chennai from 150+ to 500. This strategic expansion has enabled the company to offer a broader range of innovative financial products in Tamil Nadu. These products are tailored to the unique needs of MSMEs, driving an increase in the customer base, which now stands at nearly 1,600.

Press meet Youtube Shorts link:

Godrej Capital offers secured and unsecured financing options for businesses such as Business Loan, Loan Against Property, and Udyog Loan Against Property, catering to customers with varying collateral needs. The company has focused on providing a wider range of innovative offerings tailored to MSMEs' unique requirements. One such innovation is the recently launched Flexi Funds, an overdraft-like facility designed to help MSMEs manage their cash flow requirements more efficiently.

Additionally, Godrej Capital has expanded its footprint in Tamil Nadu with new branches in Kanchipuram, Salem, Madurai, and Coimbatore, alongside its existing stronghold in Chennai. To support the dairy farming community, the company also launched Dairy Farm Loan in partnership with Creamline Dairy, driving economic growth in the sector.

Currently, Godrej Capital’s total AUM stands at over INR 15,300 crore, serving over 30,000+ loan accounts nationwide through a network of 3,800 channel partners. The company plans to expand its distribution network to over 10,000 partners in the next two years, reinforcing its position as a key player in the financial services landscape.

Manish Shah, MD and CEO of Godrej Capital, said “With the rapid growth of the MSME sector, Tamil Nadu remains an essential market for us, with Chennai being a major contributor to our MSME lending business. Our customer-focused approach and innovative products have been key to our success. In the state, we will continue to concentrate on industries such as manufacturing, textiles, electronics, and service-industries among others.”

Looking ahead, Godrej Capital plans to introduce Supply Chain Financing soon, enhancing financial inclusion for MSMEs. The company also aims to scale its secured and unsecured business offerings to cater to a broader customer base, targeting diverse collateral options.

We have recently extended its partnership base for its first-of-its-kind platform, Godrej Nirmaan, a one-stop business solution to provide MSME owners with an all-inclusive opportunity to grow their businesses. Godrej Nirmaan has partnered with 16 organisations, including DBS Bank India, Visa, Amazon, GeMTech Paras, Escrowpay, Onsurity, and CRISIL, among others, to help increase the market reach, simplify legal and compliance processes, provide financial assistance, enhance employee health and welfare, and provide business coaching for small businesses.

****