Godrej Group looks to lock in terms of division ahead of family split of Rs 1.76-lakh-crore conglomerate
Godrej Group, the ₹1.76-lakh-crore conglomerate that began its industrial journey five decades before Independence selling locks to the citizens of a then crime-prone Bombay, is reportedly in advanced stages of crucial negotiations to conclude the formal division of its diverse businesses, top industry executives familiar with the matter told ET.
The two factions of the Godrej family — Godrej Industries & Associates led by Adi Godrej and his brother Nadir, and Godrej & Boyce Manufacturing Company (G&B) involving cousins Jamshyd Godrej and Smitha Godrej Crishna — are likely to finalise soon the formal split of business verticals as diverse as engineering, appliances, security solutions, agricultural products, real estate, and consumer products, said the officials cited above. The family council is ironing out some important specifics involving two critical points — usage of the Godrej brand name after the split, including possible royalty payments, and land valuations currently held by G&B.
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«There have been some issues that need ironing out on the land parcel. Given tax implications, it is difficult to move the parcel out of G&B,» said an official, who declined to be named. «That has thrown up a challenging task
