WHEN THE 127-year-old Godrej Group separated its businesses between cousins Adi Godrej and Jamshyd Godrej-led factions a couple of months ago, a silent negotiator worked behind the scenes from Jamshyd’s side. Niece Nyrika Holkar, executive director, Godrej & Boyce (G&B) fronted the negotiations with Pirojsha Godrej, who represented the Adi faction. Adi Godrej and his brother Nadir Godrej will retain control of the five listed companies of the Godrej Group with interests in consumer goods, real estate, agriculture, chemicals, and gourmet retail.
In the family division, sibilings, Jamshyd and Smita Crishna (Nyrika’s mother), got the unlisted Godrej & Boyce along with its affiliates and a vast land bank. The separation of the land bank was the contentious issue, and Nyrika and the legal team spent years to complete negotiations. G&B’s net profit jumped 94.06% YoY to ₹409 crore in FY24 despite volatility in commodity prices, rising inflation and changes in consumer preferences. Sales rose 11.06% to ₹16,182 crore. Nyrika is currently focused on driving transformation at G&B. She pushed the teams to understand customer requirements and designed new products with feedback. Moreover, she spearheaded the modernisation of organisational architecture and digital assets.
She leads digital strategy, brand, legal and M&As at G&B. A qualified solicitor who began her career at AZB & Partners, she also oversees the protection of the firm’s intellectual property and commercial deals. Nyrika, who joined the board in 2017, is involved in G&B’s community development efforts, including education, skilling and preservation of Mumbai’s mangroves. — Nevin John