The Rs 4,000 crore Godrej group has decided to make Godrej Industries, formerly Godrej Soaps, as its investment vehicle for all its knowledge-oriented businesses.
Adi B Godrej, chairman of Godrej group said, 'Godrej Industries will be the group's investment vehicle for all its knowledge oriented business (infotech ventures). We do not have skills to run this business and so our role will be similar to that of a venture capital firm.' However Godrej did not reveal the quantum of funds allocated for investment in this area.
The Godrej group had made a couple of investments in the IT sector. Emble Holdings and Finance Ltd, a 100 per cent subsidiary of Godrej Industries, recently picked up a 26 per cent stake in Personalitree Academy for Rs 1.2 crore. Personalitree is a e-varsity providing online soft skills training.
Godrej Industries holds 15 per cent in the UK-based information technology service company, Compass Connections. Compass Connections is involved in the business of outsourcing, backoffice operations and IT enabled services.
"We have increased our holding in Compass Connections from 7 per cent to 15 per cent," Godrej added.
Godrej International, a wholly owned subsidiary of Godrej Industries holds 6.5 per cent stake in the US based information and transcription company CBay Systems. Godrej Remote Services, a 100 per cent subsidiary of Godrej Industries is in the business of call centre and back office and works with CBay Systems.
The Godrej group through its investment arm Godrej Capital holds about 6.28 per cent in the Mumbai-based KarRox Technologies, a IT services company specialising in the call centre business.
Godrej sees software and IT-enabled services as its areas of growth and investment for the group. Godrej expects Godrej Industries to clock a turnover of Rs 600 crore this financial year.
Godrej & Boyce Manufacturing Company (G&B), the holding company of the group holds 22 per cent in Geometric Software Services Company. G&B also holds 52 per cent in Godrej Infotech. Godrej Infotech, a divison of G&B was spun of as a separate corporate company and is in the business of software development, e-solutions development, ERP services.
