The founding family of 127-year-old Godrej Group, which spans from soaps, home appliances to real estate, has decided to split the conglomerate, with Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai.

The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, a statement by the group said.

Godrej Enterprises Group — comprising Godrej & Boyce and its affiliates that have a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software — will be controlled by Jamshyd Godrej as chairperson and managing director.

His sister Smita’s daughter Nyrika Holkar, 42, will be the executive director.

Their families will control this arm that also will hold the land bank, including 3,400 acres of prime land in Mumbai.