“MARKET SHARE GOING UP STEADILY” - MODI ENTERPRISES

In an exclusive conversation with Fortune India Exchange, Bina Modi, Chairperson, Modi Enterprises (who took over the command of the over $1.5 billion revenue group late last year), explains her strategy to steer different verticals of the group to the next growth level. Edited excerpts...

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Tell us about your journey from managing businesses for Modi Enterprises with Mr. KK Modi to now leading one of the most prominent Indian conglomerate?

I had a late start as an entrepreneur and the journey has been both challenging and exciting. I started my ventures at 40 but they were linked to my passion. It has led to successful ventures in fashion, luxury lifestyle, hospitality and travel that have added both diversity and value to Modi Enterprises over time.

The truth is that along with building and managing these businesses, I have always been actively involved with the main companies of Modi Enterprises. I formally joined the Board of Godfrey Phillips India in 2014 and been an active participant in many strategic business decisions. A few years ago when Godfrey Phillips was facing growth issues, I was part of the executive team that worked on business process restructuring. Many decisions were taken for profit maximisation that included decisions on business portfolio. I would say one of my key achievements was to influence the decision on divestment of Tea. Mr. KK Modi was not really keen on it, but I lead the resolution through and that has played out very well for the company.

Similarly, in Indofil, besides overseeing operations, I led crucial arbitrations for the company such as Indofil’s segregation from Modipon. All my efforts were directed to ensure amicable, transparent and impartial segregation between the two companies. I was also rigorously involved in the acquisition and joint ventures with global companies to increase shareholder value.