Reviving Sick Bombay Dyeing to be tough for Jeh

   Industrialist Nusli Wadia is getting more aggression into his flagship textile firm Bombay Dyeing & Manufacturing Company that has lost out to competitors besides having suffered due to the overall downturn in the textile manufacturing sector.

   Financial year 2011-12 could be a turning point for the 132 years old company, which is metamorphosing into a realty company after its textile operations turned unviable.

   With no other option lest to completely turn aroung the textile business, the Nusli Wadia led company is aggressively growing its real estate busniess with the aim of reviving its flagging fortunes.

  Wadia Group's unlisted firm Bombay Realty is currently developing Bombay Dyeing's two mill lands measuring 65 acres at Worli and Wadala in Mumbai and this activity is now scaled up with renewed aggression.

  The price of real estate per sq foot in the area is over Rs 25,000. Wadia has now entrusted this task to his younger son Jeh Wadia who, as the Managing Director of Bombay Dyeing from April 1, will spearhead the realty foray to take it to the next level. Jeh's elder brother Ness Wadia, who has so far been in charge of the company's real estate business, has been shifted to the group's trading firm Bombay Burmah. Ness was at the helm of Bombay Burmah. Ness was at the helm of Bombay Dyeing for the past 10 years.

  According to analysts, these changes, which were effected by the Bombay Dyeing board from April 01, indicates radical changes in the group's thinking. Jeh Wadia, who has been in charge of GoAir, is known to be more aggressive by nature compared to his bachelor low- profile and shy sibling Ness. Jeh has successfully brought back GoAir from the brink of closure with his determination to turn it around and sheer hard work.

  In the last two years GoAir, from a completely uncertain future, has become a serious player in the aviation market with a market share of 6.6 per cent and a fleet of 10 aircraft. Possibly this is why senior Wadia has chosen Jeh to lead the realty foray, which needs lot of aggression and execution capability, apart from liasioning with government bodies for project clearance.