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Godrej thinks that the Godrej brand is a tremendous asset that's been built up over 127 years. He further said that the brand gives them the immediate credibility and ability to play in a variety of sectors.
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The five listed firms of the Godrej Group, which include holdings in consumer goods, real estate, agriculture, chemicals, and gourmet retail, would continue to be under the management of Adi Godrej, the patriarch of the family, and his brother Nadir Godrej.
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The amicable settlement between the branches of the Godrej family brings clarity for shareholders
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The restructuring of the 127-year Godrej Group will divide the conglomerate into two- its listed entities under Godrej Industries and unlisted business under Godrej Enterprises.
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Godrej family has decided to restructure its shareholding in the conglomerate to operate as two entities, Godrej Enterprises and Godrej Industries
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As per the settlement, Adi and Nadir Godrej will control listed companies while cousin Jamshyd gets the control of unlisted entities and the land bank.
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As per the report, Adi and Nadir Godrej will divest their stakes in Godrej & Boyce to the other branch. Jamshyd Godrej and his side of the family will transfer interests in Godrej Consumer Products (GCPL) and Godrej Properties to their cousins through a family arrangement.
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Officials familiar with the discussions have indicated that the Godrej family has been engaging in amicable talks, prioritising the best interests of all stakeholders.
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The company, among the youngest NBFCs, began operations only in late 2020 as a housing finance firm, primarily to serve the group's realty arm and then launched an NBFC vertical focused on SMEs and MSMEs.
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Each series will have an aggregate nominal value of up to Rs 250 crore with an option to retain over-subscription up to Rs 250 crore aggregating up to Rs 500 crore.
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The group’s agriculture and chemicals arm Godrej Agrovet Ltd. will more than double the acreage of oil palm trees it manages over the next six years, Chairman Nadir Godrej said in an interview at the company’s headquarters in Mumbai.
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Godrej Appliances, a business unit of Godrej & Boyce, the flagship company of the Godrej Group, aims for a turnover of around Rs 5,500 crore, which is even 35 per cent higher than the pre-pandemic number of Rs 4,500 crore, Nandi added.
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In order to achieve the target of Rs 30,000 crore assets under management in four years, the Group is infusing Rs 1,500 crore into its financial services venture this month.
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Given their dwindling population, it is important that as many of the memories that are still available with the older generation, are captured and retained for the future.
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The 124-year-old conglomerate in mulling for a complete large-scale division between two groups -- one led by Adi Godrej and Nadir Godgej, and the other by Jamshyd N Godrej and his sister Smitha Godrej Crishna.
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Nadir Godrej, apart from assuming the role of Godrej Industries Chairman, would also continue to serve as Managing Director of the company.
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As per the report, Godrej's total remuneration in FY19 stood at Rs 6.07 crore, down 20 percent from the previous year.
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Adi Godrej and Jamshyd Godrej said that they have been working on a long-term strategy plan for the group for several years.
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Serious differences among family members emerged at old business house Godrej Group, indicating a difference in opinion on how the land parcels of the group should be utilised.
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The store offers customers an opportunity to experience home security solutions and engage with experts before taking a decision. The Experience Zone has electronic home security solutions, home safes, wi-fi-based home security solutions, fire resistant and commercial safes.
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The company today launched wifi enabled home cameras under 'Eve series' and 'SeeThru Pro Video Door Phones' for the market as part of its expansion plans here. "Last year, the company achieved a business revenue sales growth of 22 per cent and for this year, it is expecting to target a business revenue growth of 25 per cent" a company statement said.
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The company, the real estate firm of the Godrej group, will develop a housing project on 59 acres at Mamurdi in West Pune. It did not disclose the name of the partner in question.
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The company is also expecting 30 per cent growth in sales during the current festival season.
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The commissioning of the plants will start in the middle of the second quarter of the next financial year.
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In an interview to CNBC-TV18's Priya Sheth, Adi Godrej, Chairman of the Godrej Group spoke about his outlook and impact of GST rollout for the company and Indian economy.
