MUMBAI: The Godrej Enterprises Group (GEG), a newly established entity carved out of the 127-year-old conglomerate following the amicable division between brothers Adi and Jamshyd Godrej in April, is eyeing a revenue of Rs 20,000 crore by 2032.
The group, which currently generates Rs 16,000 crore, has ruled out the possibility of taking any of its companies public in the near future.
The diversified GEG operates 14 units across 10 sectors, including consumer durables, furniture, locks and safety vaults, aerospace, green power, and battery storage. Its businesses collectively touch over 1 billion customers across five continents.
“Our top-line is about Rs 16,000 crore now, and we hope, with the renewed focus on a greener future and the new brand identity, the revenue should cross ₹20,000 crore by 2032,” said Nyrika Holkar, the group’s Executive Director and sister of Chairman and Managing Director Jamshyd Naoroji Godrej.
Speaking to TNIE on Thursday, Holkar, who is married into the Indore royal family, revealed that 50% of revenue in the next seven years would stem from new, greener businesses. Currently, Rs 10,000 crore of the group’s revenue comes from consumer-facing businesses, with the remainder derived from industrial and other operations.
During the unveiling of GEG’s new logo, Jamshyd Godrej clarified the group’s stance on public listings: “All our businesses are strong and cash-generating. Our cash flows are so robust that we have never felt the need to tap capital markets to raise funds. While we do not rule out the possibility of taking any units public in the future, there is nothing on the cards as of now.”
Godrej also confirmed that GEG will not become a new holding company. “Throughout these years, Godrej Boyce has been our holding company, and even under the new identity, we have no plans to change that,” he said.
The undivided Godrej Group remains the largest landowner in Mumbai, holding over 3,700 hectares of land. Of this, approximately 1,000 hectares are free for development, while the rest are protected mangroves or salt-pans located on the city's northeastern fringes. After the division, Godrej Properties stayed with Adi’s group, but GEG retained ownership and development rights for land in the Vikhroli area.
“As earlier, even after the breakup, we have complete ownership of the land bank in the Vikhroli area and will continue to develop it. These properties will be sold and marketed by Godrej Properties for a 10% commission, as per the existing agreement,” Godrej clarified.
Highlighting the company’s legacy of innovation, Godrej remarked: “Over the past 127 years, we have made history. Godrej Boyce was the first company in the country to launch springless locks in 1909. It was also the first to locally manufacture refrigerators and to launch an electric forklift in India.”
GEG plans to consolidate its 14 business units under three verticals: ‘Consumer First,’ encompassing consumer-facing businesses such as furniture and consumer electronics; ‘Nation First,’ covering sectors like aerospace, locks, and safety vaults; and ‘Future First,’ focusing on emerging areas like green hydrogen, zinc and manganese-based batteries, and recycling construction materials.
Holkar also discussed the recycling arm, established a few years ago and currently operating only in Mumbai. “We aim to scale this rapidly and expand into other cities,” she said.