The Godrej family is dividing its conglomerate, which was founded over a century ago, by stepping down from each other’s company boards and planning to sell their stakes. Adi and Nadir Godrej left the board of Godrej & Boyce, while Jamshyd Godrej resigned from the boards of GCPL and Godrej Properties.
The separation is between two branches of the family: Adi and Nadir Godrej on one side, and their cousins Jamshyd Godrej and Smita Godrej Crishna on the other. The two main groups are Godrej Industries & Associates, led by Adi Godrej, and Godrej & Boyce (G&B), led by Jamshyd Godrej.
Chennai saw a leasing volume of 7.1 million square feet in 2023, the highest in the country, which influenced the residential rental market in the city.
India is seen as a significant offshoring location, with Chennai being favored by companies from the US, UK, and other European countries. Offshoring activities are increasing in the city, with companies from various sectors setting up operations there.
The family is working with professional advisors to divide assets and establish clear ownership for future generations. Adi Godrej and Jamshyd Godrej, the family heads, are 82 and 75 years old, respectively.
The privately held G&B operates in various sectors and reported revenue of Rs 14,796 crore in FY23. GCPL, the largest listed firm, has a market capitalization of Rs 1.20 lakh crore as of Thursday.
The Godrej Group was founded in 1897 by Ardeshir Godrej and Pirojsha Burjorji Godrej.