Godrej Wealth to launch mutual fund business next year, targets Rs 1 lakh crore AUM by 2031

plans to enter the business next year as it looks to expand its wealth and offerings, MD and CEO said on Thursday.

The company is in the process of filing for a and expects to enter the business in about a year, Shah said.

“We are in the process of filing for our mutual fund licence. But we are one year away,” he added.

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Godrej Wealth and Godrej Capital are part of the Godrej Industries Group.

Godrej Wealth, the group’s arm, already has a (PMS) licence and a Category II alternative investment fund (AIF). It is also preparing to launch its first private credit fund, Shah said.

The proposed mutual fund business will complement Godrej Wealth’s existing open-architecture platform, which provides affluent and high-net-worth individual (HNI) clients access to mutual funds, PMS, AIFs, private credit and bespoke portfolio solutions.

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“We want to build a full-fledged wealth and asset management offering over the coming year,” Shah said.

Godrej Wealth formally launched its business in Mumbai in June 2026 and launched its business in Delhi on Thursday. The company plans to expand to six more cities, with Pune, Hyderabad and Bengaluru targeted for the current quarter, followed by Chennai, Ahmedabad and Kolkata in the next quarter.

Godrej Wealth has set a target of Rs 3,000 crore in assets under management (AUM) by the end of the current financial year. It aims to reach Rs 1 lakh crore in AUM across its wealth and asset management businesses by 2031.

The company is focused on high-net-worth (HNI) and ultra-high-net-worth (UHNI) clients. Rising entrepreneurship, greater participation in financial markets and intergenerational wealth transfer are driving demand for wealth management services in India, the company said.