While the two decade-old Godrej Properties expanding all over the country and growing by 50 per cent in the last five years, 31-year-old Pirojsha Godrej, current managing director and chief executive officer of the company, has been a busy man.
Pirojsha, the youngest child of Godrej patriarch Adi Godrej, is also the first among siblings to head a company. While his elder sister Tanya Dubash is executive director and president (marketing) of the group, his other sister Nisa is president, human capital and innovation for Godrej Industries and associate companies.
It seems like the 115 year group is betting big on Pirojsha as Godrej Properties is expected to be the biggest contributor to the group’s profits in less than seven years. The goal: to take revenues of the company from Rs 337 crore in FY 2011 to Rs 20,000 crore by 2021.
“I think for his age, he has developed a lot of maturity. He seems to be focused and does not have the air of a rich man’s son,” says a top executive in the group who has known Pirojsha for many years. Years of good grooming and education has also shaped him as a sharp nosed businessman, he adds.
Pirojsha holds Masters in international affairs from Columbia University and Master’s in business administration (MBA) from Columbia Business School.
Doesn’t the role of MD at the age of 31 bother him when most of the real estate companies are headed by seasoned professionals or experienced scions?
Pirojsha, who has travelled 50 countries in the world, says he does not think so. “I have spent eight years with the company, of which the last three years are in a senior executive capacity. I am ready to take on the challenges,” Pirojsha said in a recent interview with Business Standard.
But then, a drastic fall in home sales in key markets such as Mumbai and Delhi has also hit volumes and eroded profitability of real estate companies. “Yes, there are a lot challenges, but we also see a huge amount of opportunities, given the demographics and demand for housing. In the first place, the joint venture model we follow is well positioned to mitigate the risks and take advantage of the opportunities. We are getting a lot of new deals at attractive valuations," he says