Page 6 - Godrej

Indian business families that are shifting control to their next generation

From Ambani to Birla, more and more business families in India are showing trust in their scions

Godrej Properties buys 60-acre land in Chennai to develop housing project

In a regulatory filing, the company informed that it has purchased the land on an outright basis in the micro market of Oragadam Junction, Chennai

Godrej Properties to launch Rs 8,000 cr housing project in Delhi by March

Godrej Properties expects to launch a luxury housing project at Ashok Vihar in the national capital in March quarter and is eyeing Rs 8,000 crore of sales revenue from this property. It had in February 2020 acquired a nearly 27-acre land in the national capital for Rs 1,359 crore to develop a luxury housing project. The land parcel belonged to Rail Land Development Authority (RLDA). In an interview with PTI, Godrej Properties Executive Chairman Pirojsha Godrej said the company is still awaiting the final approval to start the work and sales of its upcoming housing project at Ashok Vihar. "There has been a good progress on the approvals. We are still hoping for a Q4 launch (January-March)," he said. The total development potential of the Ashok Vihar project would be around 4 million square feet and the company is eyeing sales of Rs 8,000 crore, said Pirojsha Godrej. "I am very very confident about this project. Quality of the land is so good because of those three parks in the (Ash

Godrej Yummiez expands vegetarian portfolio; aims for 30% growth in FY23

Godrej Yummiez, a brand of ready-to-cook products from Godrej Tyson Foods (GTFL), expanded its vegetarian portfolio with the launch of Godrej Yummiez Crispy Potato Starz

Godrej Capital forays into Rajasthan, targets 10% market share: Official

Godrej Capital, the financial services arm of Godrej Group, has forayed into Rajasthan. The company will target a 10 per cent market share with a focus on loan-against-property (LAP), a company official said. In addition, it will launch unsecured business loans for micro, small and medium enterprises (MSMEs) in Q4 FY23 and venture into supply chain financing. "We are looking to scale our existing operations and expand our offerings through product innovations. Jaipur has immense potential and is an important market to begin our expansion journey in Rajasthan," Godrej Capital MD and CEO Manish Shah said. Godrej Capital closed the first half of the financial year with a balance sheet of Rs 3,500 crore and aims to grow to Rs 6,000 in FY23 and is targeting Rs 30,000 crore by 2026. With an expansive network of 970+ channel partners and over 270 developers, Godrej Capital serves close to 7,000 customers across home loans and loans against property.

Godrej Properties net profit up 54% to Rs 55 cr, net income grows 13%

Company says it has added 6 new projects with a total saleable area of 6.34 million sq ft

India's Godrej Consumer profit misses view on weak Indonesia sales

India's Godrej Consumer Products on Tuesday reported a sharper-than-expected drop in second quarter profit, as expenses climbed, while Indonesia sales continued to decline

Godrej & Boyce creating hurdles for bullet train project: Maha govt to HC

The Maharashtra government on Tuesday told the Bombay High Court that Godrej & Boyce Manufacturing Co Ltd had left no stone unturned to create unnecessary hurdles for acquisition of land, owned by the company, for the Ahmedabad-Mumbai bullet train project. A division bench of Justices Nitin Jamdar and Sharmila Deshmukh was hearing a petition filed by Godrej & Boyce Manufacturing Co Ltd challenging an order of September 15, 2022 passed by the state government awarding compensation to it for land acquisition for the project. The company, in their petition, sought that the high court direct the state government to not start the process of awarding compensation and initiate possession proceedings. The state government, in its affidavit filed by deputy collector (land acquisition) Jagatsing Girase, termed the company's allegations as frivolous, baseless, unwarranted and unsubstantiated. It also informed the court that the acquiring body of the state government has already deposited

China's zero-Covid move could hit India's white goods post festive season

This will impact the flow of finished products into the Indian market, unlike last year, this impact will be felt post Diwali

'We need to stop dividing country; govt, industry need to do more'

Billionaire Nadir Godrej has said we need to "stop dividing the country" and urged the government as well as the industry to "do more" on this aspect. Godrej, the chairman and managing director of the diversified Godrej Industries, said we are doing very well on the economic front and also undertaking welfare measures like financial inclusion and education, but efforts ought to be made to "unify the country". "I think we need to try and unify the country and stop dividing the country. I think that is important and I am sure the government also recognises the economic growth requires that, and we should be focusing on that," Godrej told PTI on the sidelines of a book launch earlier this week. When asked if the industry also needs to do more on this front, he said, "Of course, industry should try and do things also by trying to be as inclusive as possible. And the government should also do more." Godrej's comments are rare among top industrialists, who generally refrain from speaking

India at 75: Chelpark and 14 other brands that will take you back in time

Some taglines have made us laugh. Some jingles have made us sing along. Some mascots have endeared themselves to us for a lifetime. Let's look at 15 such brands

Godrej submits Science Based Targets initiative for emission reduction

Godrej Industries Limited and Associate Companies (GILAC) has submitted greenhouse gas (GHG) emission reduction targets to the Science Based Targets initiative (SBTi) for validation

Godrej Consumer eyes double-digit domestic sales growth in Q1 of FY23

The firm, however, expects a mid-single-digit volume drop on a high base in the quarter

Godrej Industries reports net profit of Rs 422.82 cr for March quarter

The company had posted a loss of Rs 92.17 crore for the same quarter of previous fiscal year, Godrej Industries said in a regulatory filing

Godrej Properties decides not to go ahead with DB Realty investment

The real estate firm said the decision was taken after receiving shareholders' feedback. On Friday, the company's scrip fell nearly 10% on BSE

FPIs dump $2.1 bn worth bank shares in Nov, pump $2.7 bn into FMCG stocks

The inflows into the realty sector too could have been subdued if not for Godrej Properties' inclusion in the MSCI index

Godrej Group headed for split of $4.1 billion business empire: Report

At present, the group is led by veteran industrialist Adi Godrej (79), who is its chairman

Betting on 'good and green' hasn't hurt Godrej's wealth creation

Sustainability and development have been key goals for the group

Godrej Properties posts Rs 17 cr profit in Q1; sales bookings down 68%

Total income rose to Rs 261.99 crore in the first quarter of this fiscal from Rs 195.66 crore in the corresponding period of the previous year.

Consumer durables industry may contract 12-15% in FY21: Godrej Appliances

This was mainly due to the loss witnessed in June quarter and the worst hit was the air conditioner segment