Godrej and Boyce sells 2 offices to Godrej Industries for 157 Crore Rupees
- Updated Tuesday May 28 2024
Godrej and Boyce sells 2 offices to Godrej Industries for 157 Crore Rupees
After the recent shareholder realignment in the Godrej Family there has been much speculation about the fate of the ‘prized’ Mumbai land bank. Officially the land ownership which vests in Godrej and Boyce will continue to remain with the faction being headed by Jamshyd Godrej. However the development of the property up until now had been taken under the listed entity Godrej Properties.
There was some messages released to the public that the arrangement would continue in this fashion thereby allowing Godrej and Boyce to focus on their core business and not disturbing the current ongoing arrangement.
This recent sale, which includes a massive 60,000 square feet of pre-leased and group occupied office spaces is in consonance with the arrangement. The property in question is believed to be spread over the 8th and 9th floors of the north tower of the office complex known as Godrej One and encompasses two basements and 11 upper stories along with 75 car parks.
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