MUMBAI The 276-year-old Wadia Group, which exited from three businesses in the past year, is now preparing to shed its engineering business too and will focus on its profitable automotive venture.

The group's portfolio restructuring will include an exit from Gherzi Eastern, an unlisted 50-year-old, 100-crore design engineering firm which has built facilities for companies such as Relieance industries and siemeans

The group chairman, Nusli Wadia, started the process sometime last year by swapping the roles among his sons, Ness and his younger brother Jeh Wadia. The group has also put in place a formal structure under Nowrosjee Wadia & Sons to share services among group companies.The group also plans to merge the profit-making Electromags Automotive Products with the group's holding company Bombay Burmah Trading Corp. Wadia scion Ness Wadia is overseeing this group exercise.