Big business groups of the country One of the Godrej Group has been divided. The 127 year old Godrej Group has been divided into two parts. As per the agreement between the families, the group will be divided into two parts. One will be commanded by Adi Godrej and his brother Nadir, while the other will be commanded by their cousins Jamshed and Smita. Adi Godrej and his brother Nadir will lead the Godrej Industries group. This includes other listed companies including Godrej Industries Ltd., Godrej Consumer Products Ltd., Godrej Properties Ltd., Godrej Agrovet Ltd. and Astec Lifesciences Ltd.
Will gift shares to nephews and nieces
Rishad Kaikhushru Naoroji has decided to gift most of his shares in the group companies to his nephews and nieces. This is a rare example of corporate India’s super-rich leaving their wealth to relatives. Naoroji, 72, is a third-generation member of the Godrej business family and cousin of Adi, Nadir and Jamshed Godrej and Smita Godrej Krishna. Naoroji holds shares in several listed and unlisted Godrej companies, including Godrej Agrovet, Godrej Consumer, Godrej Properties and Godrej Industries. As of May 1, their combined stake in these companies is around Rs 7,050 crore.
Cousin brother and sister got this important responsibility
Whereas 75 year old Jamshed Godrej will lead Godrej Enterprises. This includes Godrej and Boyle Manufacturing Company. It is present in many sectors like aerospace, aviation, defence, energy, construction, IT and software. His niece Nairika Holkar will be the executive director. According to sources and information provided to the stock exchange, under the agreement both the groups will continue to use the Godrej brand name.
The group has 3,000 acres of valuable land.
Godrej & Boyce, controlled by Jamshed Naoroji Godrej and his sister Smita Krishna Godrej, will have exclusive construction rights on the available land. This also includes 3,000 acres of land in Mumbai. He got it as part of the family agreement to divide the Godrej business. This information was received from sources and information given to the stock market.
Will not enter each other’s business
Both have signed a six-year non-compete agreement. Due to this they will not be able to enter each other’s area. After the end of the non-compete period, they can work in another’s field. But Godrej name cannot be used for this. Sources said that this division has been done through transfer of shares and not through value. Adi and Nadir will sell their stake in Godrej & Boyce to other entities. Jamshed Godrej and his family will transfer their stake in Godrej Consumer Products (GCPL) and Godrej Properties to their cousins through a family arrangement.
There will be a separate agreement regarding the land
Real estate worth thousands of crores of rupees will be held by Godrej & Boyce (G&B) and a separate agreement will be worked out regarding ownership rights. Most of the real estate is in Mumbai suburban areas. Sources said G&B will have construction rights on all the land bank, while another group’s Godrej Properties will have market rights. Godrej Properties will not have any construction rights. It has 3,400 acres of land in Mumbai. This also includes a 3,000-acre plot of land in Vikhroli, Mumbai. According to some estimates, the development potential of Vikhroli land is more than Rs 1 lakh crore. The company can develop 1,000 acres of land, while about 1,750 acres of land is mangrove. It is home to rare plants and birds.
Resigned from the post of board of directors
The Vikhroli property was purchased by group co-founder Pirojsha in a public auction in 1941–42 from the receiver of the Bombay High Court. It was previously owned by Framji Banaji, a Parsi merchant, who purchased it from the East India Company in the 1830s. Both parties left the boards of directors of each other’s companies to pursue asset division. Under this, Adi and Nadir Godrej resigned from the board of Godrej & Boyce, while Jamshed Godrej has resigned from the board of directors of GCPL and Godrej Properties. Under the agreement, 73-year-old Nadir Godrej will serve as the chairperson of Godrej Industries Group (GIG). Adi Godrej’s son Pirojsha Godrej will be named chairman of GIG in August 2026, succeeding Nadir Godrej.
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