Godrej Industries Group (GIG) plans to invest around Rs 20,000 crore in Haryana, with its real estate businesses accounting for the bulk of the proposed investment, as the group looks to expand its presence in the state’s residential and commercial markets.
The investments, which have the potential to create around 40,000 jobs, were outlined in a memorandum of understanding signed with the Haryana government in the presence of Chief Minister Nayab Singh Saini on Monday. The group has already invested around Rs 12,000 crore in Haryana and employs about 9,000 people across its businesses in the state.
Godrej Properties (GPL) will be the largest contributor to the proposed investment, with plans to invest a further Rs 16,000 crore in Haryana by FY28. The company has invested around Rs 11,000 crore in the state so far and currently has 18 projects across Gurugram, Sonipat, Faridabad, Panipat and Kurukshetra.
Its future projects are expected to create more than 11,000 jobs. The investment comes as Gurugram and other parts of the National Capital Region continue to see demand for residential and commercial developments, supported by urbanisation and the expansion of corporate and global capability centre (GCC) operations.
Godrej Ventures, the group’s real estate private equity business, plans to invest another Rs 3,500 crore in Grade A+ office infrastructure in Gurugram, taking its total investment in the state to around Rs 4,500 crore. The proposed projects are expected to generate more than 30,000 direct and indirect jobs, according to the group.
The office expansion is aimed at strengthening Gurugram’s commercial ecosystem and its attractiveness to multinational companies and GCCs. The group said the proposed investments across its businesses have the potential to create around 40,000 jobs, with the job estimates for individual businesses including direct as well as indirect employment.
“Haryana has emerged as an important growth driver for the Godrej Industries Group,” GIG Chairperson Pirojsha Godrej said, pointing to the state’s economic depth, pace of urbanisation and Gurugram’s emergence as a major commercial and employment hub.
The group’s other businesses also have an established 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 across Haryana.