The Godrej group has been cut up between two branches of the founding household. (FILE)
New Delhi:
The founding household of 127-year-old Godrej Group, which spans from soaps and residential home equipment to actual property, has reached an settlement to separate the conglomerate, with Adi Godrej and his brother Nadir retaining Godrej Industries that has 5 listed companies, whereas cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its associates in addition to a land financial institution, together with prime property in Mumbai.
The group has been cut up between two branches of the founding household, with Adi Godrej (82) and his brother Nadir (73) on one facet and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the opposite, in keeping with an announcement issued by the group.
Godrej Enterprises Group — comprising Godrej & Boyce and its associates which have a presence throughout a number of industries spanning aerospace and aviation to defence, furnishings and IT software program — shall be managed by Jamshyd Godrej as chairperson and managing director. His sister Smita’s daughter Nyrika Holkar, 42, would be the govt director.
Their households will management this arm that additionally will maintain the land financial institution, together with 3,400 acres of prime land in Mumbai.
Godrej Industries Group — which incorporates the listed firms – Godrej Industries, Godrej Client Merchandise, Godrej Properties, Godrej Agrovet and Astec Lifesciences — can have Nadir Godrej as chairperson and shall be managed by Adi, Nadir and their instant households.
Pirojsha Godrej, 42, son of Adi, would be the govt vice chairperson of GIG and can succeed Nadir because the chairperson in August 2026, the assertion mentioned.
Within the assertion, the Godrej household termed the cut up as “an possession realignment” of the shareholdings within the Godrej firms.
“The realignment has been arrived at in a respectful and conscious method to preserve concord and to raised align possession in acknowledgement of the differing visions of the Godrej members of the family,” it mentioned.
“This may assist maximize strategic path, focus, and agility, and can speed up the method of making long-term worth for shareholders and all different stakeholders.” Each Teams will proceed to make use of the Godrej model and are dedicated to rising and strengthening their shared heritage.
Lawyer-turned-serial entrepreneur Ardeshir Godrej and his brother in 1897 succeeded at locksmithing after failed ventures into hand-fashioned medical gadgets.
Ardeshir didn’t have any youngsters, and so the group was inherited by his youthful brother Pirojsha. Pirojsha had 4 youngsters – Sohrab, Dosa, Burjor and Naval.
Over time, the helm of the group got here to the kids of Burjor (Adi and Nadir) and Naval (Jamshyd and Smita) as Sohrab had no youngsters whereas Dosa had one youngster Rishad, who had no youngsters.
To allow the cut up, the 2 sides stop the boards of firms in rival camps. So, Adi and Nadir Godrej resigned from the Godrej & Boyce Board, whereas Jamshyd Godrej left his seat on the boards of GCPL and Godrej Properties.
Unconfirmed stories say Adi and Nadir Godrej will divest their stakes in Godrej & Boyce to the opposite department. Jamshyd Godrej and his facet of the household will switch pursuits in Godrej Client Merchandise (GCPL) and Godrej Properties to their cousins by way of a household association.
Actual property price crores of rupees, principally in prime land in Mumbai suburbs, will stay beneath Godrej & Boyce (G&B), and a separate settlement shall be labored out to control the possession rights.
It owns 3,400 acres of land in Mumbai, together with a 3,000-acre parcel in Vikhroli, Mumbai. The Vikhroli land by some estimates has a improvement potential of over Rs 1 lakh crore. It could develop 1,000 acres, whereas about 1,750 acres are lined with mangroves and is the vacation spot of uncommon vegetation and birds. About 300 acres of land have already been encroached upon.
The Vikhroli property was purchased by Pirojsha at a public public sale from the Bombay Excessive Courtroom receiver in 1941-42. It was beforehand owned by a Parsi service provider Framjee Banaji, who purchased it from the East India Firm within the 1830s.
Adi is presently chairman of Godrej Group. His brother Nadir is chairman of Godrej Industries and Godrej Agrovet. Their cousin Jamshyd is chairman of the unlisted Godrej & Boyce Manufacturing firm. His sister Smita Crishna and Rishad Godrej additionally maintain a stake in Godrej & Boyce, which owns many of the property in Vikhroli.
A few years again, Jamshyd roped in funding banker Nimesh Kampani and lawyer Zia Mody to advise him on separating the land possession. Kotak Mahindra Financial institution’s Uday Kotak and Cyril Shroff of authorized agency Cyril Amarchand Mangaldas have been helping Adi.
In line with the assertion, the realignment shall be applied after the related regulatory approvals have been obtained.
“Godrej Enterprises Group (GEG) includes Godrej & Boyce (G&B) and its associates, which have a presence throughout a number of industries spanning aerospace, aviation, defence, engines and motors, vitality, safety, constructing supplies, development, inexperienced constructing consulting, EPC companies, intralogistics, healthcare tools, durables, furnishings, inside design, architectural fittings, IT, software program in addition to infrastructure options.
“This group will now be managed by Jamshyd Godrej, chairperson and managing director, Nyrika Holkar, Govt Director, and their instant households,” it mentioned.
Godrej Industries Group (GIG), which incorporates the listed firms, Godrej Industries, Godrej Client Merchandise, Godrej Properties, Godrej Agrovet and Astec Lifesciences can have Nadir Godrej as Chairperson and shall be managed by Adi Godrej, Nadir Godrej, and their instant households.
“Pirojsha Godrej would be the Govt Vice Chairperson of GIG and can succeed Nadir Godrej because the Chairperson in August 2026,” it mentioned.
Commenting on the longer term outlook, Jamshyd Godrej mentioned: “Since 1897, Godrej & Boyce has all the time been pushed by the robust objective of nation constructing. With this future-facing household settlement now in place, we will additional drive our development aspirations with fewer complexities and concentrate on leveraging our core strengths in high-tech engineering and design-led innovation throughout our robust portfolio of strategic, shopper and rising companies”.
Nadir Godrej mentioned, “Godrej was based in 1897 to assist construct financial independence for India. This deep objective of innovating for a trigger – the values of belief and respect and the assumption in trusteeship and making communities that the businesses function in stronger and higher – proceed to kind the bedrock of who we’re 125 years later. We look ahead to constructing on this legacy with focus and agility”
(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
