Godrej Capital Targets IPO In Three Years As AUM Crosses Rs 15,000 Crore

Mumbai-based Godrej Capital is eyeing an initial public offering in around three years, Nadir Godrej, managing director of Godrej Industries, told NDTV Profit. He said the company, which has been growing rapidly, is already generating significant profits and will continue to receive investments to support its expansion.

In an interaction at the NDTV Profit Conclave in Mumbai, Godrej said the company would likely consider an IPO once it reaches a certain scale. “I would estimate around three years,” he said, adding that achieving assets under management of Rs 10,000-15,000 crore serves as a key milestone in the journey towards going public.

On Feb. 7, news agency PTI reported Godrej Capital Managing Director and CEO Manish Shah as saying that the company surpassed Rs 15,000 crore in AUM in January 2025, and is on track to reach Rs 30,000 crore by March 2026. He also noted that in Tamil Nadu, the company achieved over 100% growth, with AUM rising to Rs 800 crore, which is expected to surpass Rs 1,000 crore by March 2025.

Shah told PTI that the company reported a profit of Rs 55 crore in the last financial year, which is expected to triple to Rs 175 crore by March 2025. He also said the company has 3,800 channel partners and plans to expand this to over 10,000 in the next two years.

Godrej Capital was launched in 2022 as the financial services arm of the Godrej Group. It is the holding company for Godrej Housing Finance and Godrej Finance, with a focus on home loans and loans against property. According to PTI, the company has received Rs 3,000 crore in equity from the Godrej Industries Group and has raised debt through banks and other financial institutions.

The company currently operates in Mumbai, Bengaluru, Delhi-NCR, Ahmedabad, and Pune and is set to expand into Jaipur, Chandigarh, Hyderabad, Chennai, Indore, and Surat.