Page 3 - Godrej Group

Godrej Group division: Here's a look at 127-year-old history of the company

From steel locks to Cinthol soap, here is a look at the group that once played a role in the Swadeshi movement

Godrej family splits group; divides businesses, assets between Adi, Jamshyd

In the statement, the Godrej family termed the split as 'an ownership realignment' of the shareholdings in the Godrej companies

Godrej Locks eyes 50% market share, bets big on new cheaper products

Locks and security solutions company Godrej Locks has said it aims to increase market share from 30 per cent to 50 per cent in three years, riding on a new range of affordable products and reduced prices of existing ones. Shyam Motwani, business head for Godrej Locks and architectural and systems, said the company's newly-launched products are over 50 per cent affordable than the existing locks, while efforts have been undertaken to make the existing locks cheaper by 7-8 per cent. The company will rely on new affordable range and price cuts in the existing locks to achieve the objective of having the dominant market share in around three years, Motwani told PTI. The target is to grab 50 per cent market in the segment from the current 30 per cent, Motwani said, adding that the company sees a massive opportunity for its products in the tier-2,3, 4 cities and towns. He further said the newly-launched locks have been designed and developed in-house, keeping in mind the needs and ...

Godrej Properties targets Rs 25,000 cr sales bookings in FY25: Chairman

Enthused by record sales bookings of Rs 22,500 crore last fiscal on strong housing demand, Godrej Properties Ltd Executive Chairman Pirojsha Godrej said the company would like to see some growth even on a high base and aim to achieve Rs 25,000 crore pre-sales numbers in 2024-25. Earlier this week, Godrej Properties reported an 84 per cent increase in sales booking last fiscal to a record Rs 22,500 crore on higher volumes and the launch of premium housing projects amid strong consumer demand. Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which has reported pre-sales of Rs 21,040 crore during 2023-24, and is likely to emerge as the largest listed real estate developer in terms of sales bookings in the 2023-24 financial year. In an interview with PTI, Pirojsha Godrej said the company is expecting another good financial year, banking on the positive consumer sentiments. "I think we will see another good year if the market stays as strong a

Godrej Properties to develop 62 acre township project in north Bengaluru

Godrej Properties said that the agreement for the sale of land was entered in 2014 itself, however, the development did not commence at that time

'Godrej Properties to beat FY24 guidance, sale bookings to hit Rs 18k cr'

Godrej Properties' sale bookings are likely to rise 50 per cent annually to over Rs 18,000 crore this fiscal year, beating the annual guidance on strong demand for its residential projects. In an interview with PTI, Executive Chairperson Pirojsha Godrej said the company is hopeful of selling properties of more than Rs 5,000 crore during January-March period of this fiscal year, repeating the performance of the previous two quarters. The real estate arm of Godrej Group had sold properties worth Rs 12,232 crore in 2022-23 and had given sales guidance of Rs 14,000 crore for the current fiscal. "We have crossed last year bookings number already in the first nine months of this fiscal and expect to go well past our full-year guidance. Overall we are happy with what is going from an operational perspective and hoping for a strong end to this fiscal year," said Pirojsha. "We have done Rs 5,000 crore plus sales bookings in the last two quarters. We hope to do that again in the fourth ...

Devaluation of Argentine Peso results in negative impact on Q3 sales: GCPL

FMCG maker Godrej Consumer Products Ltd (GCPL) on Friday said the devaluation of the Argentine Peso by the recently elected government in Argentina has resulted in a "negative mid-single digit impact" on its consolidated sales for the December quarter. The new Argentinian government is taking various measures to improve the economic conditions and one of them was to devalue the Argentine Peso to the US Dollar. In December 2023, the Argentine Peso to the US Dollar was devalued from 361 to 808, as the Argentinian economy is facing hyperinflationary pressures. The IndAS 29 (Indian accounting standards) mandates the YTD statement of Profit and Loss to be translated at the closing rate for presentation in consolidated financial statements, said the Godrej Group FMCG arm in a regulatory statement. It mandates all amounts to be restated into the measuring unit at the end of the reporting period by applying a general price index. "Hence, the impact of the devaluation of the Argentine Peso

Godrej Consumer expects to deliver mid-single digit volume growth in Q3

FMCG major Godrej Consumer Products Ltd (GCPL) on Friday said it is expecting to deliver a "mid-single digit volume growth" on a consolidated basis in the December quarter. In the domestic business, GCPL's organic business delivered steady underlying volume growth of mid-single digits and its inorganic business as Park Avenue and KamaSutra reported a double-digit volume growth. "Growth was broad-based across both home care and personal care. Park Avenue and KamaSutra brands continue to perform well and are on track to achieve full-year ambition," the Godrej Group FMCG arm said in a quarterly update on Friday. The company said its Indonesia business -- the second biggest market after India for GCPL -- continues to deliver "compelling performance" with close to double-digit volume growth and high-single-digit constant currency sales growth. "The GAUM (Godrej Africa, US, and Middle East) business had a flattish to mild decline in volume growth. This was driven by trade destocking in .

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

Godrej Properties Ltd on Tuesday said it has sold more than 600 flats in its new luxury housing project at Gurugram, Haryana. In a regulatory filing, the company said it has "sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram. " The company will develop nearly 750 apartments in this 9.5-acre housing project. The starting price is around Rs 4 crore per unit. Godrej Properties said this is its most successful launch ever in terms of the value of sales achieved, surpassing the previous best of over Rs 2,000 crore at its project Godrej Tropical Isle in Noida last quarter. MD & CEO Gaurav Pandey said, "Gurugram is an extremely important market for Godrej Properties. We hope to launch four new projects in Gurugram in 2024..." Godrej Properties, the real estate arm of Godrej Group, is one of the leading developers in the country. During April-September 2023-24, Godrej Properties achieved 48 per cent ...

Godrej Consumer starts price war in liquid detergents with new product

Godrej fab launched at Rs 99/ litre in South India

Godrej Capital expects Rs 1,500 cr capital to be infused for 2 years: CEO

"The pie is not the same at $3 trillion. It is expected to grow to $5 trillion and maybe $10 trillion in the next decade. It is that market share that the company is competing for," he said

Godrej Capital eyes Rs 10,000 cr AUM by Jan, hit Rs 50,000 cr by 2028

Godrej Capital, the financial services arm of the diversified conglomerate Godrej Group, has planned to grow its assets under management (AUM) to Rs 50,000 crore by 2028, a top official said on Thursday. The company which commenced operations in 2020 achieved "break-even" in the second quarter of the current financial year, company Managing Director and CEO Manish Shah said here. To achieve the balance sheet of Rs 50,000 crore by 2028, the company would require an additional Rs 4,000 crore capital, Shah noted. "We received the license (to launch operations) in October 2020.. we want to grow AUM to Rs 50,000 crore by 2028..This year we expect to reach Rs 10,000 crore that is by March 2024," he told reporters. "The company received around Rs 2,000 crore as capital from the holding company of the Group. Every year, we require about Rs 1,000 crore as equity capital. To reach Rs 50,000 crore AUM we will require about Rs 4,000 crore," he said. By 2026, Shah said, the company aims to man

Godrej Capital expects AUM to increase by 69% to Rs 30,000 crore by FY26

The company has partnered with over 150 channel partners across Tamil Nadu to provide various product offerings across MSMEs

Strategies for Godrej stocks as group likely finalises separation terms

Godrej Agrovet, Godrej Industries, Godrej Properties can potentially rally up to 10% from current levels, while Astec Life and Godrej Consumer Products can fall up to 17%, suggest charts.

Softbank sells 2.54% stake in PB Fintech; Godrej Industries shares up 20%

Shares of Godrej Industries shot up by 20 per cent on Friday following speculation that the two factions of the Godrej family have finalised the terms of separation

Godrej Aerospace in talks to build aircraft parts for Airbus, Boeing

The company expects its civil aviation business to clock revenues of Rs 100 crore in the current fiscal year, making up 35 per cent of Godrej's total revenues

Godrej Aerospace eyes share of GE 414 engine manufacturing, supply chain

Indian airlines such as Indigo and Air India have recently placed orders for 500 and 470 aircraft, respectively

Godrej Group arm to invest Rs 100 cr to acquire material handling equipment

Godrej & Boyce on Tuesday said it will be investing Rs 100 crore over the next three years to acquire material handling equipment. Demand for renting the equipment is high and the capital investments will be by Godrej Rentrust eyeing a share of the same, a statement said. Pegging the overall market at Rs 2,200 crore, the company said it is eyeing business in the auto, engineering, chemicals and pharma, food and beverages, fast-moving consumer goods, logistics, ecommerce and retail sectors. In the January-March period, it received 100 orders from companies for deploying equipment, the statement said. Renting equipment has become a preferred option for businesses seeking managed services and bypassing high upfront costs, the company said, adding that it has grown at over 20 per cent per annum over the last five years.

GCPL to invest Rs 100 cr in early-stage consumer startups in India

Godrej Consumer Products Limited (GCPL) on Saturday said they will invest Rs 100 crore in Early Spring, a new Rs 300 crore early-stage consumer fund being set up by Spring Marketing Capital (Spring).

Godrej group and SBI sign a strategic MoU to deepen partnership

"Together, we aim to unlock opportunities for financial inclusion and build a long-term, sustainable franchise, helping drive India's growth story forward"