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Godrej Prop launches The Trees, a 60:40 JV with Godrej Ind
Godrej Properties on Monday announced the launch of its mixed-use project 'The Trees' in Vikhroli, Mumbai. Talking about the project Pirojsha Godrej, ED, Godrej Properties, said, "It is a 60:40 profit sharing JV agreement between Godrej Properties, which will get 60% of the profits and Godrej Industries, which will get 40% of the profits."
Godrej Properties , the real estate development arm of the Godrej Group, on Monday launched its mixed-use project 'The Trees'. "It is a 60:40 profit sharing JV agreement between Godrej Properties, which will get 60% of the profits and Godrej Industries, which will get 40% of the profits. Godrej & Boyce is the land owner and has a long-term lease agreement with Godrej Industries ," Pirojsha Godrej, ED, Godrej Properties told CNBC-TV18 in an interview.
A report by financial daily Live Mint says a clutch of Godrej group companies will move from their respective headquarters in south Mumbai to the 35-acre 'The Trees' campus. Godrej Industries, Godrej Properties, Godrej Agrovet Ltd, Godrej Consumer Products Ltd, Godrej Hersheys Ltd and Natures Basket Ltd will occupy nearly 250,000 sq ft in Godrej One, an office building within 'The Trees', the report added quoting a Godrej Properties' spokesman.
