Godrej Wealth is set to move into India’s asset management sector next year as it works to broaden its wealth and investment management operations.
Manish Shah, the managing director and chief executive of Godrej Capital, said the firm is getting ready to apply for a mutual fund licence.
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The planned asset management company is expected to start operating in about a year.
Godrej Wealth and Godrej Capital belong to the Godrej Industries Group.
The wealth business already has a portfolio management services (PMS) licence and runs a Category II alternative investment fund (AIF).
The group is also preparing to introduce its first private credit fund.
This would add to its open-architecture model, through which affluent, high-net-worth and ultra-high-net-worth clients can access mutual funds, PMS offerings, AIFs, private credit and tailored portfolio options.
Shah said the group wants to put in place a full wealth and asset management set-up over the next year, extending its reach across investment products and advisory work.
Godrej Wealth started operations in Mumbai in June 2026 and entered Delhi recently.
It plans to expand into Pune, Hyderabad and Bengaluru in the current quarter, with Chennai, Ahmedabad and Kolkata to follow in the next quarter.
The company is aiming for assets under management of Rs30bn ($312m) by the close of the current financial year.
Over the longer term, it is seeking to reach Rs 1tn ($10.5bn) across its wealth and asset management businesses by 2031.
Godrej Wealth is concentrating on India’s HNI and UHNI segments.
Rising entrepreneurship, wider participation in financial markets and intergenerational wealth transfer are expected to support demand for wealth management services.
An entry into the AMC business would enable the group to create investment products while continuing to provide offerings from several providers.
Earlier this year, Godrej Industries Group entered the wealth management segment with the launch of Godrej Wealth and has set a goal of reaching Rs 1tn ($10.5bn) in assets under management by 2031.
The business will sit within Godrej Investments, a subsidiary of the group, and will operate alongside Godrej Capital, its lending arm, under the wider financial services platform.
