Godrej Group to invest Rs 1,000-1,500 crore in housing fin arm in next 2-3 years

Godrej Properties has entered into the housing finance space. To talk more about that and the outlook going ahead Pirojsha Godrej, executive chairman of Godrej Properties spoke to CNBC-TV18.

Pirojsha Godrej said, “We will be starting this venture with a launch of Godrej Housing Finance which is focused entirely on the housing finance space. The reason was that selection was, we think that the housing finance market is very large and offers a lot of opportunity. It is also one where we think risk is more mitigated given the loans are backed by very strong assets which is peoples home.”

He further added, “We will be looking at funding this business entirely through Godrej Group’s balancesheet, so we expect to invest over the first three years somewhere between Rs 1,000-1,500 crore. From a perspective of how we see this business grow, we would like to create a loan book of about Rs 10,000 crore over this first three years.”