GODREJ SPLIT:ADI, BROTHER NADIR TO KEEP LISTED FIRMS; COUSIN JAMSHYD TO GET UNLISTED COMPANIES, LAND BANK

NEW DELHI: The founding family of 127-year-old Godrej Group, which spans from soaps and home appliances to real estate, has reached an agreement to split the conglomerate, with Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai.

The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group.

Their families will have control over this division, which will also manage the land bank, comprising 3,400 acres of valuable land in Mumbai.

The Godrej Industries Group, comprising the listed companies such as Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec Lifesciences, will be chaired by Nadir Godrej and will be under the control of Adi, Nadir, and their immediate families.

Pirojsha Godrej, who is 42 years old and the son of Adi, is set to become the executive vice chairperson of GIG.

He will take over as the chairperson from Nadir in August 2026, according to the statement. In the statement, the Godrej family termed the split as "an ownership realignment' of the shareholdings in the Godrej companies.

"The realignment has been arrived at in a respectful and mindful way to maintain harmony and to better align ownership in acknowledgement of the differing visions of the Godrej family members," it said.

"This will help maximize strategic direction, focus, and agility, and will accelerate the process of creating long-term value for shareholders and all other stakeholders."

Both Groups will continue to use the Godrej brand and are committed to growing and strengthening their shared heritage.

Adi is currently chairman of Godrej Group. His brother Nadir is chairman of Godrej Industries and Godrej Agrovet. Their cousin Jamshyd is chairman of the unlisted Godrej & Boyce Manufacturing company. His sister Smita Crishna and Rishad Godrej also hold a stake in Godrej & Boyce, which owns most of the property in Vikhroli.

According to the statement, the realignment will be implemented after the relevant regulatory approvals have been obtained.

"Godrej Enterprises Group (GEG) comprises Godrej & Boyce (G&B) and its affiliates, which have a presence across multiple industries spanning aerospace, aviation, defence, engines and motors, energy, security, building materials, construction, green building consulting, EPC services, intralogistics, healthcare equipment, durables, furniture, interior design, architectural fittings, IT, software as well as infrastructure solutions.

"This group will now be controlled by Jamshyd Godrej, chairperson and managing director, Nyrika Holkar, Executive Director, and their immediate families," it said.

Godrej Industries Group (GIG), which includes the listed companies, Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have Nadir Godrej as Chairperson and will be controlled by Adi Godrej, Nadir Godrej, and their immediate families.

"Pirojsha Godrej will be the Executive Vice Chairperson of GIG and will succeed Nadir Godrej as the Chairperson in August 2026," it said.

Commenting on the future outlook, Jamshyd Godrej said: "Since 1897, Godrej & Boyce has always been driven by the strong purpose of nation building. With this future-facing family agreement now in place, we can further drive our growth aspirations with fewer complexities and focus on leveraging our core strengths in high-tech engineering and design-led innovation across our strong portfolio of strategic, consumer and emerging businesses".

Nadir Godrej said, "Godrej was founded in 1897 to help build economic independence for India. This deep purpose of innovating for a cause - the values of trust and respect and the belief in trusteeship and making communities that the companies operate in stronger and better - continue to form the bedrock of who we are 125 years later. We look forward to building on this legacy with focus and agility".

(With PTI inputs)