Godrej family

The Godrej family is an Indian Gujarati-speaking Zororastrian Parsi family[1] that manages and largely owns the Godrej Group, a conglomerate founded by Ardeshir Godrej and his brother Pirojsha Burjorji Godrej in 1897, spanning sectors as diverse as real estate, consumer products, industrial engineering, appliances, furniture, security and agricultural products. Headed by Adi Godrej alongside his brother, Nadir Godrej, and cousin, Jamshyd Godrej, the family is one of the richest in India; with an estimated net worth of $11.6bn as of 2014.[2]

History

The family's presence in business began in Bombay in 1897, when Ardeshir Godrej, after reading a newspaper article about rising citywide crime rates, began developing and selling locks, with the assistance of his brother Pirojsha.[3] Ardeshir Godrej died childless; Pirojsha Godrej's sons Burjor, Sohrab, and Naval succeeded in the second generation. Today, grandsons Adi, Nadir, and Jamshyd manage the group. The initial venture, Godrej Brothers, has since diversified across sectors and evolved into multiple companies under the umbrella of the Godrej Group, including Godrej Industries, Godrej Agrovet, Godrej Consumer Products, Godrej Properties, Godrej Infotech, and the holding company Godrej & Boyce.

Estate in Mumbai

Among the family's most valuable assets is a 3,500-acre estate in Vikhroli, Mumbai,[4] the value of which is estimated at $12 billion if developed; in 2011, the family announced plans to develop three million square feet by 2017, through an internal joint venture composed of Godrej Industries and Godrej Properties.[5] For decades, the family has preserved some 1,750 acres of mangrove swamps within the estate,[6] leading to the 2012 inclusion of Adi Godrej and Jamshyd Godrej in Forbes magazine's list of the richest green billionaires.[7] On 18 June 2014, Godrej family bought the iconic bungalow of Homi J. Bhabha, Mehrangir, for Rs. 372 Cr [8] through an auction initiated by The National Centre for the Performing Arts,Mumbai (NCPA). [9]

Members

Bibliography

  • B. K. Karanjia (1997). Godrej: The builder also grows. Penguin Books.
  • B. K. Karanjia (2004). Vijitatma: founder-pioneer Ardeshir Godrej. Viking.
  • B. K. Karanjia (2000). Final victory: the life and death of Naval Pirojsha Godrej. Viking.
  • Sohrab Pirojsha Godrej; B. K. Karanjia (2001). Abundant living, restless striving: a memoir. Viking.

References

  1. ↑ Kamlendra Kanwar (2000). Icons of Gujarat industry: stories of rare grit & enterprise. Harmony Publishers. p. 22. Though both are Gujarati speaking, the Godrej family is Zoroastrian (Parsi), a very westernized community, in stark contrast to the earthy Patels. The Godrej family is a part of Mumbai's glamour society
  2. ↑ Erin Carlyle. "Godrej family". Forbes.
  3. ↑ http://business.outlookindia.com/article_v3.aspx?artid=286346
  4. ↑ Erin Carlyle. "Adi Godrej & family". Forbes.
  5. ↑ "Archived copy". Archived from the original on 2013-12-13. Retrieved 2013-08-23.
  6. ↑ "Godrej helps preserve Mumbai mangroves".
  7. ↑ Kerry A. Dolan. "Richest Green Billionaires 2012". Forbes.
  8. ↑ "Godrej Family Buys Bhabha Bungalow For Rs. 372 Cr". Bloomberg TV India.
  9. ↑ Mehta, Rajshri (19 June 2014). "Homi Bhabha's iconic bungalow sold for Rs 372 crore". The Times Of India. Retrieved 20 July 2018.
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