However, the biggest change instituted since Rahul’s passing was that there will no longer be a chairman. Instead, the ₹1.46 lakh crore Bajaj Group will be run by consensus via the family council — which includes Rahul’s cousins Shekhar, Madhur and Niraj and Niraj’s son Nirav, besides Rajiv and Sanjiv. The council meets every one and a half months and spends a day together in Mumbai or Pune discussing business and family matters. Moreover, the fifth generation — Rajiv’s son Rishabh and Sanjiv’s daughter Sanjali — has joined the business.
Two years and four months since Rahul Bajaj’s passing, a statistical analysis of the 98-year-old Bajaj Group reveals the business performance has improved despite his absence. Yet, new challenges have emerged stronger than before. Aggregate net profit (consolidated) of six major companies rose 117% to ₹37,809 crore in the last three fiscals. During the period, the group added over ₹4 lakh crore to the aggregate market cap of listed firms, crossing ₹10 lakh crore in December 2023. “Rahul Bajaj was always against the idea of doing multiple things at a time and insisted on sticking to the knitting. We want to become better every day with sharper focus in the businesses we are in,” says a family member.
Yet, the group faces new challenges that can affect profitability and valuations. Especially its two most successful and profitable companies: Bajaj Auto and Bajaj Finance. BAL was a late entrant and less aggressive initially in electric mobility and for that reason its electric scooter Chetak lags Ola Electric and TVS Motors in market share. BFL, on the other hand, is up against stiff competition from new ventures of cash-rich conglomerates — Jio Financial Services, Godrej Capital, Poonawalla Fincorp and Hero Fincorp. In the NBFC space, Tata Capital is strengthening its play.
Keeping the family together is another challenge, especially when the baton is being passed on to the fifth generation.
この記事は Fortune India の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Fortune India の July 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
INSIDE THE UNCANNY WORLD OF TIKTOK HOME REMODELING
Turn a tree into a luxury apartment. Retrofit a bedroom for a million children. The videos are bizarre-and going very viral. Who's behind them?
A FULL-TERM GIG
Hiring someone to carry your baby to term is a booming business. The market for surrogacy is expected to expand to $129 billion by 2032, fueled by older parents, rising infertility, and more same-sex families. Silicon Valley contributes to the growth too: Tech companies like Google, Meta, and Snap pitch in up to $80,000 toward the six-figure cost of the process.
THE ALTERNATE UNIVERSE OF MEREDITH WHITAKER
It's free. It doesn't track you or serve you ads. It pays its engineers very well. And it's a go-to app for hundreds of millions of people.
THE MIDLIFE NOT -A-CRISIS OF MARK CUBAN
Though he's soon to be out at Shark Tank, the billionaire has a massive new \"disruption\" in the works. He's certain it'll save lives.
THE DAD-ROCK DIPLOMACY OF ANTONY BLINKEN
Two major wars. A rising China. Hackers everywhere. He's from the US government, and he's here to help.
THE MILITARY INDUSTRIAL COMPLEXES TRAE STEPHENS
The venture capitalist and cofounder of the defense-tech startup Anduril has worked with Donald Trump, Peter Thiel, Palmer Luckey, and Elon Musk.
THE TELEVISUAL HIJACKING OF ALFONSO CUARON
Gravity, Children of Men, the best Harry Potter film-and now a seven-part miniseries?
What's the future for Western 'super apps'?
Super apps create a single interface to unify a broad ecosystem of services such as messaging, e-commerce, and transport. With consumers making all of their purchases within one walled garden, the user engagement and data benefits for the app owner are obvious and substantial. These apps have become a major part of the Chinese technology landscape, so we asked two leading experts: Could the concept successfully break through in Western markets?
WAIT, GO BACK
To mature as programmers, newer generations need to take a lesson from Google’s programming language.
THE SICK (AND SLOW) BURNS OF JOSH JOHNSON
The comedian tells jokes the way he found fame: slowly, and then all at once.
THE ULTRACOOL CASH GRABS OF BOOBI ALTHOFF
Now the Tik Tokker turned podcaster is out to prove her worth-by being herself.
THE CHIT-CHATBOT
Is talking with a machine a conversation?
QUARTET ISLAND
Mendelssohn on Mull celebrates chamber music away from urban pressures.
WELL, WELL, WELL
Eating—and not-in the epicenter of hype diets.
FIX YOU
The self-help positivity of Coldplay.
THE WORKER REVOLT
Harris and Walz try to stop blue-collar Americans from drifting to Trump.
ILLUMINATIONS
Suzanne Jackson captures the transformative power of light.
RAT PACK
The classic rodent studies that foretold a nightmarish human future.
THE TALK OF THE TOWN
At the 1940 Republican National Convention, in Philadelphia, an uneasy affair marked by bomb scares, a British espionage scandal, and the imminence of global conflict, ten names were placed in nomination.
NEWARK STATE OF MIND
Mayor Ras Baraka's reasonable radicalism.
ROYAL TREATMENT
The unrivalled omnipresence of Queen Elizabeth IL.
DOOM SCROLLING
Social media and the teen-suicide crisis.
CAN AI MAKE VIDEO GAMES MORE IMMERSIVE? SOME STUDIOS TURN TO AI-FUELED NPCS FOR MORE INTERACTION
For decades, video games have relied on scripted, stilted interactions with non-player characters to help shepherd gamers in their journeys.
Watch SERIES 10 & ULTRA 2: REFRESHING THE LINEUP WITH NEW FINISHES & BOLD COLORS
At this year’s September Event, Apple unveiled the Apple Watch Series 10, a device set to redefine the smartwatch landscape with its sleek design, advanced display, and innovative health, fitness, and connectivity features.
APPLE BEGINS TESTING AI SOFTWARE DESIGNED TO BRING A SMARTER SIRI TO THE IPHONE 16
Apple is giving more people the chance to test a software update that will implant artificial intelligence into its virtual assistant Siri and automate a variety of tedious tasks on the latest iPhone coming out.
TECH TIP: USING INSTAGRAM'S NEW TEEN ACCOUNT SETTINGS TO SUPERVISE YOUNG USERS
Worried about your teen’s Instagram use? Faced with growing pressure to do more to stop online harm, the social media platform has rolled out a major new update to protect young people and give parents more control.
OPENAI CHIEF TECHNOLOGY OFFICER MIRA MURATI AND 2 OTHER EXECS ARE LEAVING THE CHATGPT MAKER
A high-ranking executive at OpenAI who served a few days as its interim CEO during a period of turmoil last year said she’s leaving the artificial intelligence company.
UN EXPERTS URGE UNITED NATIONS TO LAY FOUNDATIONS FOR GLOBAL GOVERNANCE OF ARTIFICIAL INTELLIGENCE
A high-powered U.N. advisory body said that global governance of artificial intelligence is “imperative” and urged the United Nations to lay the foundations for the first inclusive global institutions to regulate the fast-growing technology.
PHONE DEAL FOR VISITING FANS AT 2026 WORLD CUP PART OF VERIZON SPONSOR PACT WITH FIFA
Soccer fans arriving in North America for the 2026 World Cup have been promised help with their cell phone coverage from Verizon as part of a sponsor deal with FIFA announced this week.
X RELEASES ITS FIRST TRANSPARENCY REPORT SINCE ELON MUSK'S TAKEOVER
Social media platform X on Wednesday published its first transparency report since the company was purchased by Elon Musk.