Godrej Group splits 127-year-old conglomerate between two branches of founding family
Godrej Group splits: The Godrej Group, a conglomerate with diverse business interests ranging from locks and soaps to aerospace and real estate. Established in 1897, the company is one of India's most prominent and trusted brands but in the recent update, the founding family of the 127-year-old Godrej Group reached an agreement to split the conglomerate.
The Godrej family announced an ownership realignment of their shareholdings in the Godrej Companies.
The 127-year-old Godrej Group, known for its diverse portfolio ranging from soaps and home appliances to real estate, has undergone a familial split.
Adi Godrej and his brother Nadir will retain control over Godrej Industries, which includes five listed firms. On the other hand, cousins Jamshyd and Smita will take ownership of Godrej & Boyce and its affiliates, along with a substantial land bank, including valuable property in Mumbai.
This division marks a separation between the two branches of the founding family.
Under the new arrangement, Godrej Enterprises Group, comprising Godrej & Boyce and its affiliates across industries such as aerospace, aviation, defense, furniture, and IT software, will be overseen by Jamshyd Godrej as Chairperson and Managing Director. Nyrika Holkar, Smita's daughter, will serve as the Executive Director.
Godrej Enterprises Group (GEG) encompasses Godrej & Boyce (G&B) and its affiliated companies, operating across a diverse array of industries. These sectors include aerospace, aviation, defense, engines and motors, energy, security, building materials, construction, green building consulting, EPC services, intralogistics, healthcare equipment, durables, furniture, interior design, architectural fittings, IT, software, and infrastructure solutions.
Jamshyd Godrej said "With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging our core strengths in high-tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses."
Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage, it added.
- With inputs from agencies
