Mumbai29 minutes agoAuthor: Ajit Singh
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Pirojsha has been made the chairman of Godrej Housing Finance. Manish Shah will be the MD and CEO of the company. The company will provide loans in many sectors including realty, business, personal loans.
- Godrej Housing Finance may launch on November 10, just before Diwali
- Godrej Group does business in many sectors. Its revenue has been $ 4.1 billion.
The Godrej Group, which is involved in all sectors including the real sector, is now venturing into a new sector. The company will finance other segments including the housing sector. For this, it has formed a new company called Godrej Housing Finance. It can be launched on November 10, just before Diwali. The company has appointed Pirojsha Godrej as the new chairman of Housing Finance.
Manish Shah will be MD & CEO
According to the information, Manish Shah has been appointed as the new Managing Director (MD) and Chief Executive Officer (CEO) of the Housing Finance vertical. Please tell that Godrej Group’s main office is in Mumbai. It will be its Financial Services Un it. It will initially operate in 4 major cities. This includes Mumbai, National Capital Region (NCR), Bangalore and Pune. These four cities are considered to be prominent in the country in terms of realty sector.
Company will give many types of loans
According to the information, this new unit will provide home loan, balance transfer loan in lieu of property and also business and personal loan. The company’s plan is to capture a new business in the sector in which it is involved. Originally Godrej Group is in realty, retail, consumer, FMCG etc. These are sectors in which debt is required. In this, the interest rates of personal and business loans are very high.
Realty industry is in trouble at the moment
The company has decided to enter such a sector when the entire industry is struggling with cash problems. The realty sector is under great stress and is not getting any help from the banking sector. Godrej Group wants to gain a foothold in all of these by re-financing it. The company will be benefited that it is in this sector itself and can offer realty, home loan, personal loan and business loan to customers.
123 years old group
The 123-year-old Godrej Group wants to create this segment in a fresh way with transparency and value. Through this, the group wants to reach millions of Indians. It wants to reach cheap homes and other project people. It will focus on product innovation, digital approach, decisions based on data and others.
Sales booking of Rs 1,074 crore for the quarter
Godrej Property on Wednesday said its sales bookings stood at Rs 1,074 crore in the September quarter. But in the first 6 months it has been Rs 2,605 crore. Of this, the residential project share is Rs 2,600 crore and the commercial project share is Rs 5 crore. The Godrej Group currently has 1.1 billion consumers globally. This includes consumer goods, real estate, appliances, agriculture and other businesses.
The company runs its business in many countries. According to its website, the company’s total revenue currently stands at $ 4.1 billion.