Godrej Industries has officially launched its wealth management division, Godrej Wealth, with ambitious plans to amass ₹1 lakh crore (approximately $12 billion USD) in assets under management (AUM) by 2031. This new venture targets affluent and high net worth individuals, specifically those with investable assets starting at ₹2 crore (around $240,000 USD). The establishment of Godrej Wealth is part of a broader strategy under Godrej Financial Services, which has recently reported a remarkable 142.6% increase in consolidated net profit, reaching ₹444 crore (about $53 million USD) compared to ₹183 crore (approximately $22 million USD) in the previous year. Pirojsha Godrej, the chairperson designate of Godrej Industries Group, highlighted the increasing demand for institutions that can provide sustainable financial guidance across generations as the wealth base in India continues to grow. The company views wealth management as a crucial long-term growth driver and plans to venture into asset management soon, with a public listing expected within the next five years.