Godrej Industries on Tuesday announced its foray into wealth management with Godrej Wealth, a subsidiary under the umbrella financial services firm, Godrej Investments. The financial services business is the fastest growing business for the Godrej Industries group and is forecast to continue to grow with the same momentum in the next five years, Pirojsha Godrej, chairperson designate at Godrej Industries group, said. 

Godrej Wealth is being launched in a highly competitive environment, crowded by private sector and public sector banks and independent wealth management firms, keen to provide products and solutions for India’s affluent and high net worth individuals. 

The company will focus on working with clients who have investible surplus of ₹2 crore and above, entrepreneurs, family offices, trusts and non-resident Indians. 

While alternative investment funds (AIFs) have seen a CAGR growth of 31% between FY21 and FY25, according to Crisil, Indian equities have not fared too well in recent times. 

India’s stock market indices have fallen 12% year-to-date, as foreign funds have sold Indian equities worth $25.41 billion in 2026 alone. The attention of foreign funds has shifted to high growth economies of South Korea and Taiwan, fuelled by AI-led application solutions. 

But Pirojsha Godrej reiterated the optimism for growth of the wealth management business by saying: “Godrej Industries group aims for a ₹5 lakh crore market capitalisation by 2031. We are confident that Godrej Wealth could build ₹1 lakh crore in assets under management by 2031,” he said. 

“The opportunity for wealth creation platforms in India is very strong. There will be financialisation of wealth taking place. Our right to win fits well with the ethos of the group, which is trust and long-term value creation,” Pirojsha Godrej said. 

The business will cater to clients with an investible surplus of ₹2 crore and above, including entrepreneurs, new-age wealth creators, business families and family offices, and non-resident Indians. 

Manish Shah, managing director and CEO of Godrej Capital, said the strategy of Godrej Wealth would be to initially grow to 35 cities over the next five years. 

Godrej Weath and Godrej Capital (the NBFC lending arm) will operate as two separate entities. Kunal Karnani will lead the wealth management business as CEO of Godrej Wealth. 

“The biggest challenge which we will have to overcome if we are to get the bigger share of the wallet, will be that behaviourly peoples’ assets are spread across money managers and financial institutions. But we are confident we will be able to achieve this,” Shah said. 

In terms of investment, Pirojsha Godrej said the lending arm, Godrej Capital, could need an investment of ₹5,000-7,000 crore, pre-IPO. The wealth business is an asset-light, regenerative business, where the investment would not be more than ₹500 crore,” he said.