Godrej & Boyce sells Mumbai office spaces to Godrej Industries for ₹157 crore during ownership realignment.

Godrej & Boyce Manufacturing Company Ltd. sold two office spaces in Mumbai’s Vikhroli region to Godrej Industries Ltd. for ₹157 crore, marking a significant real estate deal. The purchase, as confirmed by Propstack, comprises office space in the famed Godrej One tower, a mixed-use construction comprising commercial and luxury residential components.

The office spaces on the eighth and ninth floors of Godrej One’s North Tower measure 24,364 square feet each, for a total area of 48,729.92 square feet. The agreement, signed on April 30, 2024, also gives Godrej Industries 75 parking spaces in the building’s upper and lower basements. A stamp tax of ₹9.42 crore was paid for the transaction.

Interestingly, the ninth story of the building is now leased to flexible workspace provider Simpliwork Offices until March 31, 2026. As part of the agreement, Simpliwork’s lease and security deposit would be transferred to Godrej Industries.

This sale occurred as part of a massive ownership realignment within the Godrej family. On April 30, the family announced the division of the 127-year-old company into two companies: Godrej Enterprises and Godrej Industries. This realignment places Adi Godrej and his brother Nadir Godrej on one side, while their cousins Jamshyd Godrej and Smita Godrej Crishna dominate the other.

Godrej Enterprises, managed by Jamshyd Godrej as Chairperson and Managing Director, will handle Godrej & Boyce and its affiliates in a variety of industries, including aerospace, defense, and IT software. Smita’s daughter, Nyrika Holkar, will be Executive Director of this arm, which will also own a sizable land bank comprising 3,400 acres in Mumbai.

Godrej Industries, which includes the listed companies Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet, and Astec LifeSciences, will be led by Nadir Godrej and managed by Adi and Nadir Godrej’s families.

Despite the separation, Godrej & Boyce and Godrej Properties will continue to collaborate under current Memorandums of Understanding (MoUs) for land development in Vikhroli, Mumbai, as planned.

This deal highlights the Godrej conglomerate’s ongoing strategic actions, reflecting both the substantial real estate assets at its disposal and the continued coordination across its many business units.