G&B-Godrej Properties partnership to continue

Godrej & Boyce and Godrej Properties on Wednesday said they would continue their association for land development at Vikhroli in Mumbai, a day after the founding family of the Godrej group announced an amicable split of the conglomerate.

In a joint statement, Godrej & Boyce, owner-developer, and Godrej Properties, the development manager, said the two companies will continue their Memorandums of Understanding executed from time to time, for development of land in Vikhroli as and when the owner is desirous of developing the land. Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, a residential development project with a total constructed area of 1 million square feet, which has been marketed by Godrej Properties.

In March 2024, a new project named Godrej Vistas was successfully launched under this arrangement, it added. "The future development of Vikhroli presents a unique opportunity to create a holistic space in the metropolis of Mumbai where urban development and biodiversity co-exists harmoniously. Godrej Construction and Godrej Properties bring complementary strengths, and this has translated into the launch of successful real estate projects in Vikhroli," said Godrej & Boyce Chairperson & Managing Director Jamshyd Godrej. Similarly, Godrej Properties Executive Chairperson, Pirojsha Godrej said,"We look forward to continuing our association with Godrej & Boyce (G&B) with a view to making Vikhroli into a world-class neighbourhood that delivers its residents an outstanding quality of life while ensuring the highest standards of sustainable development."