Godrej Group, a major player in consumer durables and fast moving consumer goods sector, is investing heavily in the property sector and expects that realty would be the biggest contributor to the company’s business 10 years ahead.
Talking to reporters here, the $3.2 billion Godrej Group’s chairman Adi Godrej said the company had increased its focus on the real estate business in the past few years.
“In the next 10 years, I expect real estate will be the single largest contributor to our business,” Godrej said at a media briefing on the sidelines of the Partnership Summit here.
Godrej Group’s real estate unit Godrej Properties is currently developing several residential and commercial projects in different parts of the country including Mumbai, Bangalore, Kolkata and the National Capital Region.
Godrej said he was expecting good growth in India’s real estate business in the coming years.
“Real estate is the single largest industry in India. There is no player who dominates the business,” Godrej said.
There are seven major companies under Godrej Group with interests in the sectors like FMCG, industrial engineering, appliances, furniture, security and real estate.