Into the ` 1,00,000 crore league
AT THE END of last decade, the Godrej Group announced a plan to grow 10 times in 10 years ( 10X10). In the past seven years, the group has made a significant jump in valuation of listed companies. With the IPO and listing of Godrej Agrovet on October 16, the overall market capitalisation of four group companies – including Godrej Consumer Products (GCPL), Godrej Industries and Godrej Properties – has exceeded the ` 1 lakh crore, against ` 18,000 crore for three listed companies in 2010. Godrej Agrovet debuted at a 35 per cent premium to IPO price and is valued at over ` 10,000 crore. On October 25, GCPL was valued at ` 62,800 crore. Between November and July, the share price of holding company Godrej Industries surged 85 per cent to ` 679, but fell ` 100 in later trade. The real estate firm, Godrej Properties’ share price more than doubled from ` 300 last November to ` 676.