CHENNAI, OCT 19
Godrej Capital, the financial services arm of 125-year old Godrej Business conglomerate has recently launched unsecured business loans explicitly tailored for MSMEs and aims to capture 10% of the market share in Tamil Nadu across MSME in this segment, said its MD and CEO Manish Shah here on Thursday.
- We have our balance sheet of Rs 7,700 crore and aiming to grow the same to Rs 30,000 crore by 2026: Manish Shah, MD & CEO
- Godrej Capital to launch ‘Nirmaan’ a digital platform, designed to extend 360o business solution for MSMEs, offering a wide range of services tailored to their unique needs.
As part of this initiative, Godrej Capital has expanded its business operations in the state by opening new branches in Kanchipuram, Salem, and Coimbatore, in addition to its existing presence in Chennai.
Manish Shah said, “Chennai has been a critical contributor to our MSME lending business, and we are optimistic about expanding to new cities in Tamil Nadu. With innovative and flexible offerings like Design your EMI, Bizrewards, longer tenures, and higher loan amounts, we remain focused on providing small business owners with the right financing to grow their businesses. Further, “Godrej Capital Nirmaan’’, the new platform launched on pilot basis will help small businesses with the right tools and resources beyond lending for comprehensive growth.”
He further said, Godrej Capital has partnered with 150+ Channel partners across Tamil Nadu to provide various product offerings across MSMEs.
Tamil Nadu remains an essential market for Godrej Capital as private lenders account for over Rs 700 crores per month across secured and unsecured loans for MSMEs. The company aims to scale up the unsecured business and enhance its Loan Against Property business for a broader customer segment and range of collaterals.
Currently, the MSME loan portfolio of the company stands at Rs 4,000 crore, with a target to reach Rs 6,000 crore by the end of this financial year out of which Rs 1,000 crores would be unsecured business loans, he added.
MSMEs play a vital role in India’s GDP but often need help with cash flow management. Recognizing the pertinent challenges faced by these businesses, Godrej Capital aims to provide accessible financing options to MSMEs that address their unique needs of cash flow management by offering innovative and flexible repayment options. The MSME loans provide several benefits, including a fully digitized process, quick sanction and disbursal, longer tenures, and an industry-first reward program on timely repayments.
He further said, “Godrej Capital has a balance sheet of Rs 7,700 crore. It aims to grow the same to Rs 30,000 crore by 2026. With an expansive network of 2,500+ channel partners and over 300 developers, Godrej Capital serves over 11,000 customers across products. It is looking to expand the distribution network to 10,000+ partners over the next 2 years.”
In addition to Chennai, Salem, Coimbatore and Kanchipuram, Godrej Capital extends its MSME loan offerings across multiple cities, including Mumbai, Bangalore, Delhi-NCR, Pune, Surat, Indore, Vapi, Hyderabad, Jaipur, Chandigarh, Alwar, Aurangabad, Baroda, Jalandhar, Jodhpur, Ahmedabad, Mangalore, Salem, Ludhiana, Mysore, Nagpur, Nashik, Rajkot, Udaipur, Vijayawada, Rangareddy, Vishakhapatnam and Thane.
Launches an exclusive platform ‘Godrej Capital Nirman’ for MSMEs
To be a successful entrepreneur, all you need is a well structured business plan. Keep a checklist handy while you are planning to expand and develop your business.
With Nirmaan, now is the right moment to build, plan and transform your business.#GodrejCapitalNirmaan pic.twitter.com/69FdoCMOuH— Godrej Capital Nirmaan (@Nirmaan_GC) October 9, 2023
Godrej Capital has recently launched a new digital platform, Nirmaan, to provide MSME owners an all-inclusive opportunity to grow their businesses.
The company has initially partnered with Amazon Global Selling, Onsurity, Zolvit, and MSMEs to help increase the potential market reach, simplify legal and compliance, enhance employee health and welfare, and provide business coaching for small businesses. It would add more number of partners before the end of December 31, Manish Shah said.
Nirmaan is a revolutionary platform that is set to empower Micro, Small, and Medium Enterprises (MSMEs) for sustainable growth. With its innovative approach and comprehensive offerings, Nirmaan aims to transform the landscape of MSMEs, providing them with the tools and resources needed to thrive in today’s competitive business environment.
The platform has been designed as a 360o business solution for MSMEs, offering a wide range of services tailored to their unique needs. From business consulting and financial assistance to skill development and market access, Nirmaan aims to provide holistic support to MSMEs at every stage of their business journey with the help of its partners.
Features of ‘Godrej Capital Nirmaan’ platform
Business Consulting: Nirmaan facilitates expert business consulting services to MSMEs, providing them with valuable insights, guidance, and strategies to enhance their operations, optimize their resources, and scale their businesses.
Skill Development: Nirmaan recognizes the importance of skill development for MSMEs and aids in customized training and development programs to enhance their technical, managerial, and entrepreneurial skills, enabling them to stay competitive in the dynamic business environment.
Market Access: Nirmaan facilitates market access for MSMEs by providing them with networking opportunities, industry linkages, and market intelligence, helping them to explore new markets, connect with potential customers, and expand their customer base.
Technology Enablement: Nirmaan leverages the power of technology to empower MSMEs with digital tools, platforms, and solutions to streamline their operations, improve their productivity, and enhance their overall business performance.
Healthcare and Insurance: Nirmaan understands the importance of healthcare and insurance for MSMEs and offers access to healthcare plans and insurance solutions through its partner that are tailored to their needs at a much lower cost than the market. This provides them with protection and peace of mind in case of unforeseen events.
Legal and Compliance: Nirmaan with its partners provides MSMEs with expert guidance and support in legal and compliance matters, helping them to navigate complex regulatory frameworks, adhere to statutory requirements, and mitigate legal risks.
Knowledge and Resource Hub: Nirmaan along with its partners serves as a knowledge and resource hub for MSMEs, providing them with access to valuable information, resources, and best practices in areas such as business management, marketing, finance, and compliance.
MSMEs can visit the site for more details www.godrejcapitalnirmaan.com
