Godrej Industries’ subsidiary Godrej Agrovet (GAVL) has received an approval for joint development of land/s admeasuring approximately 100 acres, located at Sarjapur, Bangalore, by GAVL and/or its subsidiaries along with Godrej Properties, the developer. The board of directors at its meeting held on June 14, 2016 has approved for the same.
GAVL has not been carrying out any operational activity on the aforesaid land for a long time and the land was available for alternate use. Such asset monetization by way of joint development on the said land over a period of time, with the expertise of Godrej Properties will benefit GAVL.
Godrej Industries is part of the Godrej group, one of the leading business groups in India and is in the businesses of Oleo-chemicals, surfactants, finance & investments and estate management.