Godrej family

The Godrej family is an Indian Gujarati Parsi family[1] that largely owns and manages Godrej Group, a conglomerate founded by Ardeshir Godrej and his brother Pirojsha Burjorji Godrej in 1897. The family operates in various sectors, including real estate, consumer products, industrial engineering, appliances, furniture, security, and agricultural products. The family, led by Adi Godrej alongside his brother Nadir Godrej and their cousin Jamshyd Godrej, is among the richest in India, with an estimated net worth of US$16.7 billion as of 2023.[2]

History

The family's 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, so Pirojsha Godrej's sons Burjor, Sohrab, and Naval succeeded him. Today, his grandsons Adi, Nadir, and Jamshyd manage the enterprise.

The initial venture has 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 Interio, 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 upon development. In 2011, the family announced plans to develop three million square feet by 2017, through an internal joint venture of Godrej Industries and Godrej Properties.[5] For decades, the family has preserved approximately 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, the Godrej family bought the bungalow of Homi J. Bhabha, Mehrangir, for Rs. 372 Cr[8] through an auction initiated by the National Center for the Performing Arts in Mumbai.[9]

Members

Charities

The family controls the Pirojsha Godrej Foundation, the Soonabai Pirojsha Godrej Foundation, and the Godrej Memorial Trust.[10]

Bibliography

  • B. K. Karanjia (1997). Godrej: The builder also grows. Penguin Books. ISBN 9780670879243.
  • B. K. Karanjia (2004). Vijitatma: founder-pioneer Ardeshir Godrej. Viking. ISBN 9780670057627.
  • B. K. Karanjia (2000). Final victory: the life and death of Naval Pirojsha Godrej. Viking. ISBN 9780670896448.
  • Sohrab Pirojsha Godrej; B. K. Karanjia (2001). Abundant living, restless striving: a memoir. Viking. ISBN 9780670912056.

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. ^ "Outlook Business | Think Beyond Stay Ahead". Archived from the original on 14 July 2013. Retrieved 23 August 2013.
  4. ^ Erin Carlyle. "Adi Godrej & family". Forbes.
  5. ^ "Archived copy". Archived from the original on 13 December 2013. Retrieved 23 August 2013.{{cite web}}: CS1 maint: archived copy as title (link)
  6. ^ "Godrej helps preserve Mumbai mangroves". Archived from the original on 20 April 2021. Retrieved 23 August 2013.
  7. ^ Kerry A. Dolan. "Richest Green Billionaires 2012". Forbes.
  8. ^ "Godrej Family Buys Bhabha Bungalow For Rs. 372 Cr". Bloomberg TV India. Archived from the original on 19 January 2015.
  9. ^ Mehta, Rajshri (19 June 2014). "Homi Bhabha's iconic bungalow sold for Rs 372 crore". The Times of India. Retrieved 20 July 2018.
  10. ^ Jammulamadaka, Nimruji (20 July 2017). Indian Business: Notions and Practices of Responsibility. Taylor & Francis. ISBN 978-1-351-58919-2.
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