Godrej announces to have more acquisitions in early FY11

Godrej announces to have more acquisitions in early FY11A top official of Godrej Consumer Products Ltd said on Tuesday that the company may announce some more acquisitions in the early of this financial year beginning April'2010.

Personal care products, hair care and household categories are the areas the company is looking in for major acquisitions. Chairman Adi Godrej told media major Reuters via telephone, "Company is looking at several acquisitions and hope to announce some early in the next financial year, depending on how the negotiations go."

Godrej Properties, group's real estate arm, had freshly sold shares in an IPO & in future is also looking at 15 more joint venture projects to come up in its area. Their projects are joint ventures with land owners where they agree to share the profits, the area or the revenue.

The company has recently completed almost 15 such joint ventures and in future is planning to do additional projects on similar terms, at least 15 more. The company is also in the plans to raise its advertising expenditure by about 25% but this will not affect the product prices in the coming fiscal.