Surat, Dec 23 (KNN) Maintaining its focus in South of Gujarat, Godrej Industries Group’s financial services arm, Godrej Capital aims to capture 10 per cent of Surat’s MSME finance market.

To capture the market in Surat, Valsad, Bharuch, etc., Godrej Capital has set up an office in Surat, said Manish Shah, managing director and CEO of Godrej Capital, reported Blunt Times, a news portal based in Surat.

“In the next eighteen months, we plan to focus on Loan Against Property (LAP) to capture a 10 per cent market share in MSME financing in Surat and South Gujarat,” he said.

Underlining Surat’s importance as a market for Godrej Capital, Shah said private lenders are financing about Rs 800 crore per month to the MSME sector.

He said that there target customers are in the textile and service sector industries in Surat.

Asked about financing in the diamond industry, Shah told Blunt Times, “We entered the field of financing two years ago. We are still analysing the diamond industry in Surat.”

“It will take time, we are very keen to work with the diamantaires and jewellery manufacturers, especially the MSMEs,” he said.

Godrej Capital currently has a balance sheet of Rs 4000 crore and aims to grow to Rs 6,000 in FY23 and is targeting Rs. 30,000 crore by 2026.

With an expansive network of 1300+ channel partners and over 270 developers, Godrej Capital serves close to 7,300 customers across Home Loans and LAP.  (KNN Bureau)