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Time of India
24-07-2025
- Business
- Time of India
Return of the Jeh: Bombay Dyeing's sequel is all real estate
Tired of too many ads? Remove Ads The shift itself isn't new Tired of too many ads? Remove Ads The pivot to real estate has been a slow burn Tired of too many ads? Remove Ads Jeh's second act The land advantage Why now? The competitive lens The Blueprint For more than 150 years, Bombay Dyeing stood as one of India's textile titans, a legacy name woven into the country's industrial story. That era is now in the rear-view. The company is reshaping itself entirely, casting off its textile past to go all in on real this transformation is Jehangir 'Jeh' Wadia, 52, the younger son of industrialist Nusli Wadia. After a four-year hiatus, he's back with a sharp mandate: turn Bombay Dyeing's massive land bank into a serious real estate business under the Bombay Realty brand.'I will be in a strategic role to bring a sharp, defined vision for governance, institutionalisation, and shareholder wealth creation,' Jeh Wadia said in a recent interview at Neville House , the company's Mumbai isn't a nostalgic comeback. It's a recalibration, timed just as India's real estate market is hitting historic highs. DLF and Godrej Properties are clocking record bookings. Luxury housing is booming. Bombay Dyeing doesn't want to be left different is the scale and Dyeing has long struggled to keep textiles FY25, consolidated income dipped to Rs 1,732 crore, down from Rs 1,799 crore the previous year. The majority of it — Rs 1,457 crore — came from polyester. Textiles contributed just Rs 47 estate brought in Rs 100 crore, but that was a 56% fall, coming on a high base inflated by one-off land deals worth nearly Rs 4,000 profit, as a result, crashed 83% to Rs 490 Wadias have been in the business since the early 1900s, originally building housing for Mumbai's Parsi community. But their real push into real estate came during the 2005–06 mill land boom, when they shifted from selling land to developing it trigger was Development Control Regulation 58 (DCR 58), a rule introduced in 1991 to allow the redevelopment of defunct mill land. It remained largely inactive for over a decade due to legal grey changed around 2005, when a Supreme Court ruling and updated state guidelines finally unlocked its potential, letting mill owners commercially develop part of their land while reserving portions for public housing and open set off a construction frenzy across central Mumbai's old mill districts like Lower Parel, Worli and Dyeing, with vast tracts in Worli, Dadar and Naigaon, was well-positioned. Unlike many mill owners who exited or partnered with developers, the Wadias kept set up a dedicated real estate arm in 2008, rebranded it as Bombay Realty in 2011, and launched the Island City Centre (ICC) project in Dadar East, featuring luxury towers like ONE ICC and TWO then managing director, was already steering the group toward real Wadia first became MD in 2011, stepping in after his brother Ness Wadia. Bombay Realty was launched the same year, signalling his intent early on. But progress was uneven. Much of the division's revenue came from sporadic land sales rather than integrated March 2021, Jeh stepped down as MD when his contract ended. That also marked his exit from Go First (formerly GoAir), part of a broader move to 'professionalise' the group. The pandemic, and what was reported as a move to London, also played a company operated without a managing director after that. Day-to-day operations were handled by CEO Suresh Khurana and CFO Hitesh Vora, with oversight from a board committee led by Nusli in July 2025, Jeh is back, not just at Bombay Dyeing but also in a non-executive role at Britannia. Officially, he says he doesn't need to 'wear the CEO or chairman hat.' But those close to the company suggest he's actively shaping the real estate strategy, working quietly but Dyeing's biggest asset is its land. It owns prime plots in areas like Worli and Dadar, some of the most valuable locations in Mumbai. On its website, the company says it is 'transforming and redefining the Mumbai skyline' through landmark projects like Island City Centre in Dadar and Wadia International Centre (WIC) in September 2024, the company sold a 22-acre Worli plot to Japan's Sumitomo Realty for Rs 5,200 crore, one of the biggest land deals in India's history, according to the Economic is in the ICC project alone, spread across 3.5 million sq. ft., is expected to generate Rs 15,000 crore through upscale residences, offices and Anand, CEO of Bombay Realty, told The Economic Times in 2023 that the company has multiple parcels with a combined development potential of 3.5 million sq. isn't unfamiliar sees the upcoming residential and commercial launches at ICC as a natural extension. 'The live-work ecosystem will offer clear land titles, allowing customers to live and work in the same development,' he the market is real estate sector, worth $320 billion, is projected to hit $1 trillion by 2030. It's being driven not just by housing and office demand but also by REITs, senior housing, and rental G. Patel, President of CREDAI, calls it a defining moment. 'India recently overtook Japan to become the world's fourth-largest economy. This milestone signals not just macroeconomic strength but also immense opportunities for sectors like real estate,' he told Moneycontrol on June estate contributed just 1.8–2% of India's GDP in 2012. That figure stands at 8.4% now, with expectations to cross 10% by 2030. CREDAI sees it hitting 13–15% by the end of the decade, tied closely to India's $30 trillion economic vision for housing, in particular, is booming. According to a report by India Sotheby's and CRE Matrix, homes priced above Rs 10 crore generated Rs 14,750 crore in just the first half of 2025, a record six-month July 2024 and June 2025, 1,335 such homes were sold in Mumbai, netting Rs 28,750 crore. Nearly 75% came from the primary market. Secondary (resale) sales added Rs 3,750 crore, both five-year led with 22% of primary sales by value, followed by Bandra West and Tardeo, which posted 192% and 254% jumps, respectively. Notable transactions included Leena Gandhi Tiwari's Rs 639 crore buy at Naman Xana and other Rs 100–200 crore deals at Oberoi 360 West, Lodha Sea Face, and Bandra UBS Billionaire Ambitions Report 2024 says India now has 185 billionaires, more than double from a decade ago, with combined wealth of $905.6 billion, up 263%.JLL says 62% of homes sold in India's top cities in H1 2025 were priced above Rs 1 crore. CBRE and ASSOCHAM reported an 85% spike in sales of homes over Rs 4 leasing is thriving too. According to Knight Frank, India saw 48.9 million sq. ft. of leasing activity in H1 2025, up 41% year-on-year. Bengaluru and Chennai led the also ranks fourth globally in millionaire count, with 85,698 HNWIs, a 72% rise since 2014. McKinsey projects a further 50% jump in ultra-HNWI numbers by 2028. Luxury housing is now part of a much bigger consumption boom, fuelled by rising wealth and Properties had a record Q4 FY25 on paper, with Rs 10,163 crore in bookings. But profits told a more complex story. Despite a 49% jump in revenue to Rs 2,122 crore, net profit fell 19% to Rs 382 crore, hit by rising costs. Margins dropped from 24.1% to 14.4%.Still, the full-year view was upbeat. Net profit nearly doubled to Rs 1,400 crore on annual bookings of Rs 29,444 crore, well ahead of had an even stronger run. FY25 net profit jumped 59% to ?4,357 crore. Bookings were up 44% to Rs 21,223 crore, beating its Rs 17,000 crore target. Revenue hit Rs 8,996 crore. Gross margins held at 48%, with EBITDA at Rs 3,111 crore. It ended the year with a record Rs 6,848 crore net cash launches, 'The Dahlias' and 'DLF Privana West', alone brought in Rs 13,744 crore and Rs 5,600 this points to one thing: India's luxury real estate boom is still Wadia isn't here to flip land for a quick profit. He's aiming for something more enduring, consolidation, clarity, and long-term value. His plan: unify the group's scattered real estate ventures under one banner, Bombay Realty.'We have a legacy experience in different areas of real estate, though it was unorganised,' he said. 'The focus now is to institutionalise it under one unified brand. The Bombay Dyeing name must remain relevant for the next generation.''The live-work ecosystem will offer clear land titles, allowing customers to live and work in the same development,' he of their past work already defines parts of Mumbai: Parsi housing enclaves like Nowroz Baug and Cusrow Baug, the NSE building, Axis Bank HQ in Jeh knows legacy alone won't cut it anymore. 'There's a trust deficit between builders and buyers,' he said. 'Our brand stands for integrity, values earned over generations.'Since stepping away during the pandemic, Jeh returns with a more detached mindset. 'My job is to take the personality out of the process. There's no place for emotion in business.'At the heart of his approach is a three-part filter: every project must fall into one of three buckets, strategic, financial, or exit. If it doesn't serve shareholder value, it doesn't make the 288-year-old Wadia Group includes four listed companies, Britannia, Bombay Dyeing, National Peroxide and Bombay Burmah, with a combined market cap of Rs 1.38 lakh immediate focus is to unlock value from land held across the group and within the family, before partnering with external landowners through joint while Go First's collapse still lingers, he calls it a 'costly miscalculation' that reshaped his thinking. It drove home the three principles he now swears by: data, transparency and unemotional decision-making.
Time of India
22-07-2025
- Business
- Time of India
'Bombay Dyeing name must stay relevant': Jeh Wadia rejoins family business with plan to institutionalise real estate ops
Mumbai: Jehangir 'Jeh' Wadia, younger son of Wadia Group chairman Nusli Wadia , has returned to the family business after a four-year break with the aim of reinventing older businesses and betting on the new. He's focused on repositioning the Bombay Dyeing textile brand as a consumer-centric real estate company. Jeh Wadia (52) is also identifying new business opportunities with brother Ness (54) and father Nusli (81), the head of the group. The plan is to institutionalise the group's real estate operations under the Bombay Realty brand. Explore courses from Top Institutes in Please select course: Select a Course Category Data Science Management Design Thinking Degree Product Management MCA Operations Management healthcare MBA Artificial Intelligence PGDM Healthcare Digital Marketing Data Analytics Public Policy Project Management Cybersecurity Finance Others Technology Data Science CXO Leadership others Skills you'll gain: Strategic Data-Analysis, including Data Mining & Preparation Predictive Modeling & Advanced Clustering Techniques Machine Learning Concepts & Regression Analysis Cutting-edge applications of AI, like NLP & Generative AI Duration: 8 Months IIM Kozhikode Professional Certificate in Data Science and Artificial Intelligence Starts on Jun 26, 2024 Get Details Skills you'll gain: Data Analysis & Interpretation Programming Proficiency Problem-Solving Skills Machine Learning & Artificial Intelligence Duration: 24 Months Vellore Institute of Technology VIT MSc in Data Science Starts on Aug 14, 2024 Get Details 'I will be in a strategic role to bring a sharp, defined vision for governance, institutionalisation, and shareholder wealth creation,' he said in an interview at Neville House, Bombay Dyeing's headquarters, in Mumbai's leafy Ballard Estate. Bombay Dyeing, the Wadia Group flagship, is a brand that has deep roots in the Indian cultural psyche, having been around for about a century and a half. The 288-year-old Wadia Group owns four listed companies—Britannia, Bombay Dyeing, National Peroxide and Bombay Burmah—with a combined market capitalisation of ₹1.38 lakh crore. Jeh Wadia is applying a 'funnel approach' to filter current and new ventures and assets into strategic, financial and exit categories. Live Events 'These have to be evaluated completely unemotionally with the main focus on generating shareholder wealth,' he said. 'My investment philosophy is to understand the full ecosystem and capitalise on it.' The company will begin by unlocking land held by group companies and the family. It will then explore joint ventures with third-party landowners. 'We have a legacy experience, in different areas of real estate, though it was unorganised,' Wadia said. 'The focus now is to institutionalise it under one unified brand. The Bombay Dyeing name must remain relevant for the next generation.' The Wadias have a history of philanthropy through real estate. Between 1908 and 1956, they developed housing complexes for the Parsi community on 35 acres of Mumbai land. These include Nowroz Baug, Rustom Baug, Bai Jerbai Baug, Cusrow Baug and Ness Baug, as well as two 300-bed charitable hospitals more than a century ago. The group has also developed several Mumbai landmarks in the Worli and Bandra-Kurla Complex areas, including Samudra Mahal, the National Stock Exchange (NSE) building, Union Bank of India headquarters, Twin Towers, Beach Towers, Springs, ICC One and Two and the Axis Bank HQ. The idea is to bridge a key gap. 'Worli and Sewri are gaining importance with the Navi Mumbai airport and improved connectivity,' Wadia said. 'However, in general, there's a trust deficit between builders and buyers. Our brand stands for integrity and reliability—values earned over generations. We'll begin in Mumbai and expand nationally.' The Island City Centre (ICC) project will soon launch with residential offerings. Commercial developments—including office centres and high-street malls—are also being evaluated. 'The live-work ecosystem will offer clear land titles, allowing customers to live and work in the same development,' he said. In September 2024, Bombay Dyeing sold a 22-acre Worli plot to Japan's Sumitomo Realty for ₹5,200 crore—the largest land deal in India to date. Wadia relocated to London during the pandemic and stepped away from active business in 2021. 'That was a personal decision,' he said. 'I left because I had put my family before business during Covid. I had to get my wife and children to London and fulfil my responsibilities as a father.' The return followed discussions with his father, who persuaded him to lend his strategic skills to support the group's next phase of growth. While the family continues to live in London, Wadia is expected to spend significantly more time in India to help guide the group businesses. Technology has enabled quick decision-making when it comes to managing businesses, he said. 'Pre-Covid, running an organisation remotely was difficult,' he said. 'The pandemic forced boards and management to embrace digital. Today, we are a fully analytical, knowledge- and data-driven organisation.' He has resumed non-executive roles at group companies Britannia , Bombay Burmah and National Peroxide, and is expected to take charge as MD of Bombay Dyeing. Elder brother Ness remains MD of Bombay Burmah and National Peroxide. The younger Wadia is unsure about the official titles he will hold in the group, emphasising professional management across group businesses. 'I don't need to wear the CEO or chairman hat. I'm a director—and a professional shareholder. Earlier, promoters were hands-on. Today, the goal is to create shareholder value and transition towards a board-governed organisation,' he said. 'Under my father's leadership, we have a professional team to run all businesses. We run money, not businesses. The promoter's job isn't to be the loudest in the room—it's to hire the best and listen to them. I don't believe in a one-man army. If a company can't function without me, I've failed as a promoter and manager.' The failure of Go First , launched in 2005 as Go Air, remains a sore chapter. The carrier filed for voluntary insolvency in May 2023 after facing financial troubles, including the grounding of a significant portion of its fleet due to engine issues with Pratt & Whitney. 'The collapse still weighs on me. I dedicated 17 years to building it,' he said. 'Our trust in Pratt & Whitney proved to be a costly miscalculation—through no fault of ours. Over half our fleet was grounded while we bore the full operational costs. That crippled efficiency, escalated costs, and eventually forced my father to make the difficult call to declare bankruptcy.' The loss of faith was the biggest blow. 'What hurt most was losing customer trust,' he said. 'We were known for our on-time performance, punctuality, and reliability. P&W hadn't tested engines for Indian conditions. We powered our first 72 Airbus A320neos with them, assuming Airbus certification guaranteed reliability… We felt P&W was a well-established brand with a historic track record of providing reliable engines. Unfortunately, we were very wrong. But we have a strong legal case for compensation, and I am pleased to say it's progressing well.' Wadia said his approach is rooted in data, transparency, and analytics. 'We strive to keep decisions objective, not subjective,' he said. 'I'm analytically data-driven by nature. Every level of management has defined KRAs tied to KPIs. I rely on knowledge dashboards to access and share information, which teams interpret and act on.' Sentiment won't be part of the process. 'My job is to take the personality out of the process,' he said. 'There's no place for emotion in business. Entrepreneurs may need to drive early growth, but over time, companies must run independently, led by professionals. Our role is to create shareholder value—not run the business ourselves.'
India.com
25-05-2025
- Entertainment
- India.com
Meet Muhammad Ali Jinnah's great-grandson, lives in India, heir to multi billion dollar company, his name is…, net worth is...
Meet Muhammad Ali Jinnah's great-grandson, lives in India, heir to multi billion dollar company, his name is…, net worth is… Ness Wadia is a very prominent name in the business world. He is the elder son of Nusli Wadia and Maureen Wadia, which makes him the heir of the 283-year-old company Wadia Group. He is the managing director of Bombay Burmah Trading Corporation and co-owner of the Indian Premier League cricket team – the Punjab Kings. Let's know about him. Who is Ness Wadia? Born to Nusli Wadia and Maureen Wadia, he belongs to a Parsi family in Mumbai. After completing his in Engineering Management from the University of Warwick, he joined Bombay Dyeing in the year 2001. He is serving as the Director on Boards of various Wadia Group companies, like – GoAir, Britania, Wadia Techno Engineering Services and Bombay Dyeing. The Controversy Wadia made headlines after Bollywood actress Preity Zinta lodged an FIR against co-directors Mohit Burman and Ness Wadia in a Chandigarh court. She questioned the legality of an Extraordinary General Meeting that took place in April 2025. She said she had raised objections to the meeting, but her concerns were overlooked. Great-Grandson Of Muhammad Ali Jinnah Very less people know that Ness shares a close connection with Pakistan's founding father – Muhammad Ali Jinnah. He is the great-grandson of Jinnah. He is the son of Nusli Wadia, and former air hostess and Editor of Gladrags Maureen Wadia. His grandparents were Neville Wadia and Dina Wadia. Affair With Preity Zinta Rumours about Preity Zinta and Ness Wadia's relationship began surfacing in the early 2000s, and by 2005, Preity confirmed they were together. The two were frequently seen attending events, cricket matches, and even the wedding of Abhishek Bach 'We don't hide our relationship from the media. We go for parties together, we go to have coffee in Barista, we go for pizzas together… But I don't talk about him or talk about how I feel. What do I say? Those are feelings I cherish,' Zinta said. The Bollywood actress lodged molestation charges on Wadia. Preity and Ness broke their relationship in 2009 after the businessman had allegedly slapped her at a party. In 2014, Zinta accused Wadia of physical molestation. 'For some time we have ended our relationship. Although we are the co-owners of our team 'Kings XI Punjab', but we are no longer in a relationship and only talk for professional reasons and work. During that time he tried to abuse me and used extremely derogatory language and tried to behave in a manner where I was put to shame in front of my colleagues, friends and family,' Preity Zinta's complaint read. Ness Wadia filed a counter case against Preity Zinta, and the two were involved in a legal battle for some time. However, in 2018 Ness apologised to Preity, leading her to withdraw the case.
India.com
12-05-2025
- Business
- India.com
Meet man, the grandson of Jinnah who had a fierce rivalry with Tata and Ambani, leads business empire of Rs 478370000000, owns companies like…
New Delhi: The chairman of the Wadia Group, Nusli Wadia, is a billionaire Indian businessman. His company operates in various industries such as textiles, aviation, chemicals, and real estate. Nusli Wadia expanded the Wadia Group and established several new companies, including Bombay Dyeing. He was also actively involved in GoAir airline. He has also contributed to the fields of education and healthcare through philanthropy. However, he faced controversies, including rivalries with the Ambani family and legal disputes with the Tata Group. The Wadia family holds an important place among the Parsi community. His mother, Dina Wadia, came from a Gujarati Muslim family. Nusli Wadia's maternal grandfather was Muhammad Ali Jinnah, the founder of Pakistan. His maternal grandmother, Rattanbai Petit, belonged to one of India's wealthy Parsi families. Nusli Wadia's paternal grandfather, Sir Ness Wadia, was a well-known textile industrialist who played a key role in making Bombay one of the world's largest cotton trading centers at the end of the 19th century. His paternal grandmother was an Englishwoman named Evelyne Clara Powell from Yorkshire. His grandaunt (mother's aunt) Fatima Jinnah was a politician. Thus, Nusli Wadia's family has connections to many prominent figures in politics and business. In this article, we will delve into the journey of his success. All you need to know about Nusli Wadia Nusli Wadia was born on February 15, 1944, in Bombay (now Mumbai). Nusli Wadia is a billionaire Indian businessman. He is the chairman of the Wadia Group, which operates in various industries such as textiles, aviation, chemicals, and real estate. Nusli Wadia's father, Neville Wadia, was a well-known businessman, and his mother, Dina Wadia, was the daughter of Muhammad Ali Jinnah, the founder of Pakistan. The Wadia family has played a significant role in Indian business for several generations. Nusli Wadia expanded the Wadia Group and established several new companies, including Bombay Dyeing. He was also actively involved in GoAir airline. He has also contributed to the fields of education and healthcare through philanthropy. His wife's name is Maureen Wadia. They have two sons – Ness Wadia and Jeh Wadia. Nusli Wadia acquired an 11 percent stake in the company with the help of well-wishers such as his mother, sister, friends, and J.R.D. Tata. He also persuaded employees to invest their savings and buy shares in order to prevent the company from being sold. Nusli then went to London, where his father was negotiating a deal, and convinced him not to sell the company or move abroad. In 1977, Nusli Wadia became the chairman of the company after his father. Nusli Wadia is married to Maureen Wadia, who was formerly an air hostess. Maureen Wadia is the head of Gladrags magazine and one of the organizers of the Mrs. India beauty pageant. They have two sons: Ness Wadia and Jehangir Wadia. Nusli Wadia's son Ness Wadia is also quite well known. He is recognized in both the sports and business worlds. Ness Wadia is the co-owner of the IPL team Kings XI Punjab, which is now known as Punjab Kings. Nusli Wadia's real-time net worth is $5.6 billion (approximately Rs 47,837 crore).
India.com
06-05-2025
- Entertainment
- India.com
This romantic thriller earned four times its budget, Canadian actress made hit debut, worked with Shashi Kapoor's son, her name is…, lead actor was…
It takes one film to make or break career of the actors, directors, producers. This one romantic thriller was a commercial success. The lead actors rose to quick fame and vanished as quickly too. While the actor still remains a blurr memory, the actress has ventured into a different trajectory all together. The movie was a produced when such stories were not so common in that era. The film was directed by Vikram Bhatt and produced by Mahesh Bhatt. It was released in 2001 and became a blockbuster. The name of the film is 'Kasoor'. It featured Aftab Sivdasani, Lisa Ray, Irrfan Khan and Ashutosh Rana among others. Canadian Actress' Successful Debut 'Kasoor' was the maiden Hindi fil of the Canadian born actress Lisa Ray. Aftab Sivdasani has established a name for himself by then and Lisa Ray was rising to fame in the world modelling amd advertisement. She started her career on 1990s and worked with popular brands like Bombay Dyeing, Lakme etc. Ray was born to an Indian Bengali father and Polish mother in Toronto, Canada. She spent quite many days of early childhood in Kolkata. She first appeared in the Bombay dyeing ad oppiste to Shashi Kapoor's son Karan Kapoor. Subsequently, her talent was recognized and she got more and more work catapulting her into nationwide fame. As a successful model in India, she anchored several shows, travel shows, hosted events. Lisa Ray made her Bollywood debut with 'Kasoor'. Lisa was born in Canada. Before her Bollywood debut, she worked in the Tamil film 'Netaji' and the Kannada film 'Yuvraj'. Before this, she played a very small role in the 1994 film 'Hanste Khelte'.
