GODREJ GROUP TO LEAD SEPARATE ENTITIES

The Godrej group was founded by Ardeshir Godrej and his brother Pirojsha in 1897.

- RAJIV KAPOOR

While Ardeshir had no children, the company went to Pirojsha who had four children Sohrab, Dosa, Naval, and Burjor. With time, the group's leadership has gone to Burjor's children, Adi and Nadir, and Naval's children, Jamshyd and Smita. The group is in multiple sectors such as chemicals, furniture, security solutions, real estate, home and personal care, heavy engineering, power and energy, aerospace, intralogistics, infrastructure, food and agriculture products, and information technology.

The Godrej & Boyce Manufacturing Company's assets include a sprawling 3,400 acres in Vikhroli but out of this about 1,000 acres can be developed and another 1,750 acres have mangroves and will not be developed because of environmental concerns while another 300 acres of land have been encroached upon. Real estate analysts price one acre of land at around Rs 70 crores to Rs 80 crores in Vikhroli Mumbai.

The 127-year-old multimillion dollar Godrej family group decided to restructure its conglomerate on April 30 to split them into two entities-Godrej Enterprises and Godrej Industries. Godrej group has also decided to amicably split into two groups between Adi Godrej and his cousin Jamshyd Godrej terming the split due to ownership realignment of the shareholdings in the Godrej companies. The realignment has arrived to: maintain harmony and to better align ownership in acknowledgment of the differing visions of all the Godrej family members. This will help maximize strategic direction, focus, and agility to accelerate the process of creating long-term shareholder value.

All the Godrej family group promoters viz., Adi Godrej, Nadir Godrej, Jamshyd Godrej, and Smita Godrej Crishna have also sent a joint letter to the stock exchanges about the family settlement agreement and a brand and non-compete agreement having been entered into amongst members of the Godrej family.