New Delhi, a day after the founding family of the Godrej Group announced the amicable split of the group, Godrej & Boyce and Godrej Properties on Wednesday said they will continue their collaboration for land development in Mumbai's Vikhroli.
In a joint statement, owner-developer Godrej & Boyce and development manager Godrej Properties said the two companies will continue their MoUs executed from time to time for development of the land in Vikrol, as and when the owner wishes. To develop the land.
Godrej Construction, a business of Godrej & Boyce, designed and constructed four phases of Godrej Platinum, a residential development project with a total built-up area of 1 million sq. ft. marketed by Godrej Properties. In March 2024, a new project named Godrej Vista was successfully launched under this arrangement.“The future development of Vikhroli presents a unique opportunity to create a holistic space in the Mumbai metropolis where urban development and biodiversity co-exist harmoniously. Godrej Construction and Godrej Property bring complementary strengths, and this has translated into the launch of successful real estate projects. , in Vikhroli,” said Jamshed Godrej, chairperson managing director of Godrej & Boyce.
Similarly, Pirojsha Godrej, Executive Chairman, Godrej Properties, said, “We look forward to continuing our collaboration with Godrej & Boyce (G&B) to make Vikhroli a world-class neighborhood that will delight its residents. While ensuring excellent quality of life.Highest standards or sustainable development."
According to some estimates, the 3,000-acre parcel in Vikhroli, owned by G&B, has a development potential of more than Rs 1 lakh crore. It can develop 1,000 acres of land, while about 1,750 acres of land is covered with mangroves and is a destination for rare animals. Plants and birds. About 300 acres of land has been captured.
The Vikhroli property was purchased at a public auction by Pirojsha Godrej, younger brother of group founder Ardeshir Godrej, from the receiver of the Bombay High Court in 1941–42. It was previously owned by Framji Banaji, a Parsi merchant, who purchased it from the East India Company in the 1830s.Under the family settlement announced late on Wednesday night, the group has been divided between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousin Jamshed Godrej (75) on the other. Smit Godrej on the other. It is Krishna. (74) On the other hand.
Godrej Enterprises Group – which comprises Godrej & Boyce and its associates, which have a presence across multiple industries including aerospace and aviation, defence, furniture and IT software – will be controlled by Jamshed Godrej, chairperson and managing director. His sister Smita's daughter Nyarika Holkar (42) will be the executive director.
His family will control the arm, which will also have a land bank including 3,400 acres of prime land in Mumbai.
The Godrej Industries group - which includes listed companies - Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences - will be chaired by Nadir Godrej and controlled by Aadi, Nadir and their immediate families.
In a joint statement, owner-developer Godrej & Boyce and development manager Godrej Properties said the two companies will continue their MoUs executed from time to time for development of the land in Vikrol, as and when the owner wishes. To develop the land.
Godrej Construction, a business of Godrej & Boyce, designed and constructed four phases of Godrej Platinum, a residential development project with a total built-up area of 1 million sq. ft. marketed by Godrej Properties. In March 2024, a new project named Godrej Vista was successfully launched under this arrangement.“The future development of Vikhroli presents a unique opportunity to create a holistic space in the Mumbai metropolis where urban development and biodiversity co-exist harmoniously. Godrej Construction and Godrej Property bring complementary strengths, and this has translated into the launch of successful real estate projects. , in Vikhroli,” said Jamshed Godrej, chairperson managing director of Godrej & Boyce.
Similarly, Pirojsha Godrej, Executive Chairman, Godrej Properties, said, “We look forward to continuing our collaboration with Godrej & Boyce (G&B) to make Vikhroli a world-class neighborhood that will delight its residents. While ensuring excellent quality of life.Highest standards or sustainable development."
According to some estimates, the 3,000-acre parcel in Vikhroli, owned by G&B, has a development potential of more than Rs 1 lakh crore. It can develop 1,000 acres of land, while about 1,750 acres of land is covered with mangroves and is a destination for rare animals. Plants and birds. About 300 acres of land has been captured.
The Vikhroli property was purchased at a public auction by Pirojsha Godrej, younger brother of group founder Ardeshir Godrej, from the receiver of the Bombay High Court in 1941–42. It was previously owned by Framji Banaji, a Parsi merchant, who purchased it from the East India Company in the 1830s.Under the family settlement announced late on Wednesday night, the group has been divided between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousin Jamshed Godrej (75) on the other. Smit Godrej on the other. It is Krishna. (74) On the other hand.
Godrej Enterprises Group – which comprises Godrej & Boyce and its associates, which have a presence across multiple industries including aerospace and aviation, defence, furniture and IT software – will be controlled by Jamshed Godrej, chairperson and managing director. His sister Smita's daughter Nyarika Holkar (42) will be the executive director.
His family will control the arm, which will also have a land bank including 3,400 acres of prime land in Mumbai.
The Godrej Industries group - which includes listed companies - Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences - will be chaired by Nadir Godrej and controlled by Aadi, Nadir and their immediate families.
