Godrej Industries announces Rs 20,000 crore Haryana MoU; stock reacts

Godrej Industries Ltd shares fell 4 per cent on Monday after the company signed a Memorandum of Understanding (MoU) with the Government of Haryana, outlining a future investment plan of approximately Rs 20,000 crore in the state, with the potential to create around 40,000 jobs.

The Godrej Industries stock, which rose 1.63 per cent to hit a high of Rs 1,250 earlier in the day, fell in the afternoon deals. It eventually settled the day at Rs 1,179.20, down 4.12 per cent.

The group has invested approximately Rs 12,000 crore in Haryana to date and employs around 9,000 people across its businesses in the state. Godrej Properties Ltd will be a key driver of the group's investment plans, with the company planning to invest approximately Rs 16,000 crore in Haryana by FY28, taking its total investment in the state to around Rs 27,000 crore.

Godrej Properties 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 group's 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 proposed investments are expected to generate more than 30,000 direct and indirect jobs.

Godrej Capital currently has five branches in Haryana 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.

The group said the MoU reflects its growing presence in Haryana and its plans to build on its existing footprint in the state.

The proposed investments span residential and commercial development, with Godrej Properties and Godrej Ventures expected to account for a significant part of the planned investment.