|
|
Godrej, a $2.5-billion diversified group, has plans to go in for more fast moving consumer goods brands’ acquisitions over a period of three years for doubling its turnover.
"Our objective is to achieve 25 percent yearly growth of which around 10 percent will be from acquisitions and the balance organic," group chairman Adi Godrej said In Chennai on Friday.
"We are looking at acquisitions in haircare/hair colouring segments in developing markets like Brazil, Egypt and others as the potential is large”, added the Godrej Chairman.
Godrej will "acquire an existing brand and build it rather than growing a brand, fighting against the established players". This will be the strategy adopted by the industrial group in the F<MCG market.
A FMCG portfolio cell to look after mergers and acquisitions has been constituted.
Godrej is also emerging as a major player in the real estate sector by means of its Godrej Properties Ltd.
"Currently around 100 million square feet property is being developed across the country. The focus will be on developing residential properties," said Godrej.
Godrej Properties will soon start building a residential apartment on 12.5 acre plot near Chennai.
When asked about the 3500-acre property of the company at Vikhroli in Mumbai, he said: "We will be building iconic residential, commercial buildings there."
Godrej declined to disclose the amount Godrej Properties is expecting to raise from the IPO.
