Godrej clan finalises agreement to divide centuries-old conglomerate

The Godrej family has agreed to split their 127-year-old conglomerate peacefully. Adi and Nadir Godrej will keep Godrej Industries and its five listed firms, while their cousins Jamshyd and Smita will take over unlisted Godrej & Boyce and its related businesses, along with a land bank that includes valuable properties in Mumbai.

Godrej Enterprises Group, led by Jamshyd Godrej and his niece Nyrika Holkar, will control Godrej & Boyce and its various businesses, spanning from aerospace and aviation to furniture and IT. They will also manage a significant land bank, including 3,400 acres in Mumbai.

Meanwhile, Godrej Industries Group, headed by Nadir Godrej and supported by Adi Godrej and their families, will oversee listed companies like Godrej Consumer Products and Godrej Properties.

To facilitate the split, family members resigned from boards of companies they were not joining. Adi and Nadir stepped down from Godrej & Boyce, while Jamshyd left his positions at GCPL and Godrej Properties.

The division involves a substantial real estate portfolio, mainly in Mumbai. Godrej & Boyce will retain ownership of properties, including a vast parcel in Vikhroli. This land, estimated to be worth crores of rupees, has immense development potential. However, some areas are environmentally sensitive, with mangroves and rare flora and fauna.

The split aims to streamline operations and align ownership with each branch's vision. Both groups will focus on their respective businesses while continuing the Godrej legacy of innovation and community development.

Regulatory approvals are pending for the realignment, after which the split will be finalised. Jamshyd Godrej expressed optimism about the future, emphasising the family's commitment to innovation and societal progress.

Nadir Godrej highlighted the enduring values of the Godrej legacy, rooted in trust, respect, and community welfare, which will guide the family's endeavours moving forward.