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 Rs1 lakh crore, against Rs18,000 crore for three listed companies in 2010.
Godrej Agrovet debuted at a 35 per cent premium to IPO price and is valued at over Rs10,000 crore. On October 25, GCPL was valued at Rs62,800 crore. Between November and July, the share price of holding company Godrej Industries surged 85 per cent to Rs679, but fell Rs100 in later trade. The real estate firm, Godrej Properties' share price more than doubled from Rs 300 last November to Rs 676.