Godrej Industries Group has signed a Memorandum of Understanding with the Haryana government to invest approximately Rs 20,000 crore in the state, in a major expansion that is expected to create around 40,000 employment opportunities.
The agreement was signed in the presence of Haryana Chief Minister Nayab Singh Saini. The proposed investment will build on the group’s existing presence in the state. Godrej Industries Group has already invested around Rs 12,000 crore in Haryana and currently employs nearly 9,000 people across its businesses in the state.
Godrej Properties to invest Rs 16,000 crore
Godrej Properties will be a major driver of the planned investment. The real estate company has already invested around Rs 11,000 crore in Haryana and plans to invest another Rs 16,000 crore by FY28, taking its cumulative investment in the state to about Rs 27,000 crore.
The company currently has 18 projects across Gurugram, Sonipat, Faridabad, Panipat and Kurukshetra. Its upcoming projects are expected to create more than 11,000 jobs. (Fortune India)
Rs 3,500 crore planned for Gurugram offices
Godrej Ventures, the group’s real estate private equity business, has already invested around Rs 1,000 crore in Haryana. It plans to invest another Rs 3,500 crore in Grade A plus office infrastructure in Gurugram.
The proposed investments by the group’s real estate businesses are expected to generate more than 30,000 direct and indirect jobs, while further strengthening Gurugram’s position as a commercial and employment hub. (NDTV Profit)
Group expands presence beyond real estate
Godrej’s presence in Haryana is not limited to real estate. Godrej Capital operates five branches in the state and has facilitated approximately Rs 550 crore in bookings through its financing business.
Godrej Consumer Products has a network of 42 direct distributors and more than 250 rural stockists across Haryana. The group also undertakes CSR and infrastructure related initiatives in the state.
Godrej calls Haryana a key growth market
Pirojsha Godrej, Chairperson of Godrej Industries Group, said Haryana has emerged as an important growth driver for the group, citing the state’s economic strength, rapid urbanisation and Gurugram’s emergence as a major commercial and employment hub.
The group said the new MoU reflects its long term confidence in Haryana and will support investments across residential development, commercial infrastructure, services and other business areas.
The proposed Rs 20,000 crore investment is being seen as a significant boost to Haryana’s investment landscape, with thousands of new jobs and additional commercial and residential development expected across the state.