Godrej Industries Group signs MoU with Haryana Govt for Rs 20,000 crore investment
New Delhi, August 24
Godrej Industries Group has signed a Memorandum of Understanding with the Haryana government to invest approximately Rs 20,000 crore in the state, with the proposed investments having the potential to create around 40,000 jobs, the company informed the bourses on Monday.
The investment plan will build on the group's existing presence in Haryana, where it has invested approximately Rs 12,000 crore so far and employs around 9,000 people across its businesses. The group said the proposed investment reflects its confidence in Haryana's long-term economic potential and growing commercial and urban development opportunities.
Godrej Properties Ltd (GPL) will account for a significant portion of the planned investment. The real estate arm, which has already invested around Rs 11,000 crore in Haryana, plans to invest another Rs 16,000 crore by FY28. It currently has 18 projects across Gurugram, Sonipat, Faridabad, Panipat and Kurukshetra, with future projects expected to create more than 11,000 jobs.
Godrej Ventures, the group's real estate private equity business, plans to invest a further Rs 3,500 crore in Grade A+ office infrastructure in Gurugram. The proposed investments are expected to generate more than 30,000 direct and indirect jobs and strengthen Gurugram's commercial ecosystem, including its appeal to multinational companies and global capability centres.
Pirojsha Godrej, Chairperson, Godrej Industries Group, said Haryana had emerged as an important growth driver for the group, citing the state's economic depth, pace of urbanisation and Gurugram's emergence as a major commercial and employment hub.
"We see Haryana as a market where we can continue to invest for the long term and participate meaningfully in its economic and urban development," he said.
Rakesh Swami, Group Head and President-Corporate Affairs, said the MoU reaffirmed the group's confidence in Haryana as a long-term investment destination, with opportunities spanning residential and commercial development, infrastructure and services.
Beyond real estate, the group's wider businesses also have a presence in the state. Godrej Capital operates five branches and has facilitated around Rs 550 crore in bookings through its financing business, while Godrej Consumer Products has 42 direct distributors and more than 250 rural stockists.
The group also spends around Rs 1 crore annually on CSR initiatives and more than Rs 10 crore on infrastructure-level initiatives in Haryana, and said it will continue working with the state government to support development priorities and enable further investments.
— ANI
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