The MSME unsecured loan portfolio of Godrej Capital, the financial arm of Godrej Group, has crossed INR 500 crore AUM. The company further aims to achieve INR 1,000 crore AUM for its unsecured portfolio by the end of FY24.
Currently, the MSME loan portfolio of the company stands at INR 3,900 crore, with a target to reach closer to INR 6,000 crore by the end of this financial year. Godrej Capital has over 2,500+ channel partners empanelled across markets and aims to grow its total partner base to 10,000 in the next two to three years.
Tailored specifically for Micro, Small, and Medium-sized Enterprises (MSMEs), Godrej Capital launched its unsecured business loan product in April 2023. The business loan provides accessible financing options that address MSMEs’ unique needs like cash flow management by offering innovative and flexible repayment options like ‘Design your EMI’ or DEMI. In addition to these, Godrej Capital offers a digitized process, quick sanction and disbursal, longer tenure of up to 60 months, and rewards on timely repayments. Godrej Capital ‘BizRewards’ is an industry-first reward program in the lending industry, designed to recognize and reward timely repayment behaviour amongst borrowers. Since starting business operations in November 2020, Godrej Capital through its subsidiaries has built a balance sheet of ~INR 8,000 crore across housing and MSME loans.
Speaking on the achievement, Pankaj Gupta, Chief Business Officer, said, “We are delighted to see the strong acceptance of our product offerings tailored to the distinct needs of MSMEs in India. Our focus remains on the growth of the Indian MSME sector and to contribute to its success story and financial aspirations.”
Godrej Capital currently offers business loans across 31 markets, including Mumbai, Bangalore, Delhi-NCR, Pune, Ahmedabad, Surat, Indore, Chennai, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Coimbatore, Jalandhar, Jodhpur, Kanchipuram, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vapi, Vijayawada, Rangareddy, Vishakhapatnam and Thane. We further aim to double our presence to 60 locations by the end of the next financial year.
Godrej Capital recently also introduced, Nirmaan, a one-of-its-kind digital platform facilitating MSME owners with a comprehensive solution for the growth and expansion of their businesses. To provide MSMEs with the benefits of expanding their potential market reach, streamlining legal and regulatory requirements, improving employee health and welfare, and providing coaching to small enterprises, the firm has partnered with Amazon Global Selling, Onsurity, Zolvit, and MSMEx.