Mumbai: In order to “better align ownership in acknowledgment of the differing visions of the family members,” the Godrejs have agreed to separate the Rs 59,000 crore ($7 billion) locks-to-land development firm.
Jamshyd and his sister Smita will fully control the closely held Godrej & Boyce. At the same time, Adi and his brother Nadir Godrej will acquire total ownership over the five listed entities of the Godrej Group: Godrej Consumer Products, Godrej Properties, Godrej Industries, Godrej Agrovet, and Astec Lifesciences.
Adi and Nadir have been running the five organizations with their kids. In contrast, Jamshyd, his sister Smita, and their families operate Godrej & Boyce, which builds appliances, aerospace components, and locking solutions.
Despite having a shareholding in the Godrejs firms, their other cousin, Rishad, is not officially employed by the group. The Godrejs Group was founded 127 years ago by their grandfather and his brother.
The two branches have served on the boards of each other’s businesses and owned interests across the group. To enable a smooth split, they will now transfer their equity interests after resigning from the boards.
Adi and Nadir will give up their ownership of Godrej & Boyce to Jamshyd and Smita. In contrast, Jamshyd and Smita will give Adi and Nadir their ownership of Godrej Consumer Products and Godrej Properties. It is reported that following his death, Rishad will divide his assets equally among his family members. He was unavailable for comment at this time. Both parties will keep using the Godrej brand for their companies, the family said in a late-evening statement. Adi, Nadir, Jamshyd, Smita, and Rishad each own about 10% of Godrej & Boyce. Godrejs Investments and the Pirojsha Godrej Foundation, a charitable trust established by the family, hold the remaining 24%.
With a market valuation of Rs 2.4 lakh crore ($29 billion), the five listed firms generate approximately Rs 41,750 crore ($5 billion) in sales and Rs 4,175 crore ($500 million) in profit. With almost $2 billion in revenue, Godrej & Boyce has made $72 million in pre-tax profit.
According to the statement, “the Godrej companies’ shareholding realignment has been arrived at respectfully and thoughtfully to maintain harmony.” Following the acquisition of the necessary regulatory clearances, the realignment will take effect.
Nyrika Holkar, Smita’s daughter, and Jamshyd will now be in charge of Godrej & Boyce and its affiliates, together with their immediate families. Adi, Nadir, and their immediate families will hold control over Godrej Industries and the other four listed companies.
The announcement also stated that in August 2026, Adi’s son Pirojsha will take over as executive vice chairperson of GIG (Godrej Industries Group) and succeed Nadir Godrej as chairperson. The two parties have yet to determine the distribution of the group’s real estate holdings, valued at over Rs 3,000 crore and held through Godrej & Boyce.
Godrej Properties has developed a portion of the Godrej & Boyce site. The breakup occurs at the same time that the family’s fourth generation becomes significantly more active in the company’s operations.
Jamshyd Godrej discussed prospects, emphasizing Godrej & Boyce’s nation-building goal since 1897. With a new family agreement, they focus on high-tech engineering and design-led innovation in various businesses to simplify growth objectives.
“Godrej was founded in 1897 to help build economic independence for India,” stated Nadir Godrej. 125 years later, our core values of trust, respect, trusteeship, and strengthening and improving the communities in which our companies operate—along with our fundamental mission of innovation for a cause—remain the cornerstones of who we are. We are eager to continue this history with agility and focus. Today, the Godrej family is locked in the class and dignity for which they are renowned. No dramas, just everything tidy like their soap operas,” RPG Group’s Harsh Goenka wrote in a post on X.
