Godrej Group to invest Rs 20,000 crore in Haryana

Godrej Industries Group on Monday said it plans to invest about Rs 20,000 crore in Haryana with the potential to create around 40,000 jobs.

The group has signed a memorandum of understanding with the Haryana Government in the presence of Chief Minister Nayab Singh Saini, outlining its future investment plan in the state, Godrej Industries Group (GIG) said in a statement.

The proposed investments will build on the group’s existing footprint in the state. GIG has invested approximately Rs 12,000 crore in Haryana to date and employs around 9,000 people across its businesses, it added.

The group’s real estate firm Godrej Properties Ltd (GPL) will be a key driver of the investment plans. Having invested approximately Rs 11,000 crore in Haryana to date, GPL plans to invest a further Rs 16,000 crore by FY28, it added.

The company currently has 18 projects across Gurugram, Sonipat, Faridabad, Panipat and Kurukshetra, with its future projects expected to create more than 11,000 jobs.

Godrej Ventures, the real estate private equity business, has invested around Rs 1,000 crore in Haryana and plans to invest a further Rs 3,500 crore in Grade A+ office infrastructure in Gurugram, the statement said.

Its proposed investments are expected to generate more than 30,000 direct and indirect jobs, further strengthening the city’s commercial ecosystem and its attractiveness to multinational companies and GCCs, it added.

Commenting on the plans, GIG Chairperson Pirojsha Godrej said, “Haryana has emerged as an important growth driver for the Godrej Industries Group. The depth of its economy, the pace of urbanisation and the emergence of Gurugram as a major commercial and employment hub create opportunities across several of our businesses.”

He further said, “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.”

The group’s wider businesses also have an established presence in Haryana, the statement said.

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 the state, it added.