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.
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.
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.
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.
Nadir Godrej, apart from assuming the role of Godrej Industries Chairman, would also continue to serve as Managing Director of the company.
As per the report, Godrej's total remuneration in FY19 stood at Rs 6.07 crore, down 20 percent from the previous year.
Adi Godrej and Jamshyd Godrej said that they have been working on a long-term strategy plan for the group for several years.
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.
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.
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.
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.
The company is also expecting 30 per cent growth in sales during the current festival season.
The commissioning of the plants will start in the middle of the second quarter of the next financial year.
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.
As Indian family-owned firms grow in size, their need for external investors and talent will rise in tandem, leading to diverse ownerships and professional managements, says Adi Godrej
"Godrej Properties Ltd has entered into a development management agreement with Shivam Realty to develop a residential group housing project off the Akurli cross road at Hanuman Nagar, Kandivali East, Mumbai," the company said in a statement.
Godrej Appliances, the consumer durables division of Godrej Group, is aiming to capture 20 percent market share across the 5-star and inverter AC segments by 2018 on the back of new launches.
Godrej Interio, the furniture arm of Godrej Group, is looking to double its mattress segment turnover up to Rs 400 crore in the next three years.
Godrej Group's FMCG unit Godrej Consumer Products has left demonetisation behind in and expects a better show in the fourth quarter ending March 2017. Adi Godrej, Chairman, Godrej Group, said consumption has picked up and FMCG business is doing good.
Media reports suggest that Warburg Pincus is likely to pick up a 40% stake in Tata Technologies (an engineering solutions and IT product developing arm of Tata Motors).
Going ahead, remonetisation will spur the company‘s earnings in the fourth quarter ending March 2017, Godrej Group Chairman Adi Godrej said, adding that GST rollout will fuel the company‘s and India's growth in FY18.
Adi Godrej, who will turn 75 in April, will continue as chairman emeritus at Godrej Properties, which earlier in the day reported a twofold jump in net profit at Rs 77.25 crore, the company said in a statement.
Adi Godrej, Chairman, Godrej Group, feels that cutting individual and corporate taxes is quintesential to stimulating the economy after the demonetisation led to consumption plummeting in the economy.
The Godrej group firm is expecting almost a flat growth in the third quarter (October-December), although the uptown sales have revived in December.
Godrej Group may look to list Godrej Agrovet after assessing the impact of several factors such as demonetisation, Uttar Pradesh state elections and implementation of Goods and Services Tax, according to Chairman Adi Godrej.