Listing Godrej & Boyce In Future Not Ruled Out, Says Jamshyd Godrej

The potential listing of Godrej & Boyce Mfg. Co. in the future is not ruled out, but it is currently not on the cards, according to Jamshyd Godrej, chairperson and managing director of Godrej Enterprises.

Godrej & Boyce has always been a closely held unlisted company and the need was never felt to list the flagship company of the Godrej Group, given its strong cash flows that helped in meeting its expansion needs, he said on Thursday.

"Going forward, we cannot rule out listing, though this is not on the cards right now," Godrej told NDTV Profit following the rebranding exercise where the colour of the logo was changed to a single purple colour from three colours after the realignment of the business into Godrej Enterprises Group and Godrej Industries Group in April.

All the five listed companies under the Godrej Group have gone to Adi and Nadir Godrej-led Godrej Industries Group.

Godrej Enterprises has undertaken an ambitious expansion plan across its 14 business verticals and prominent among them is Rs 4,000 crore in a factory at Khalapur, Maharashtra, and Dahej in Gujarat for process equipment business.

The company also sees a major portion of investment to focus on leveraging its landholdings in Vikhroli, Mumbai, emphasising the group's intent to optimise the value of its Mumbai real estate.

Its agreement with Godrej Properties for developing and marketing properties in Vikhroli remains unchanged, with Godrej Properties receiving a 10% fee for its services.

"We will look after development activities, while sales will be handled by Godrej Properties, part of Adi Godrej-led Godrej Industries Group," Jamshyd Godrej said.

Godrej Enterprises is focused on realignment and restructuring to unlock significant value in the future, according to Jamshyd Godrej.

The company aims to generate 50% of its revenue from green businesses, prioritising the development of green technologies under the 'Good and Green' programme, he said.