Pallonji Mistry
Chairman, Shapoorji Pallonji GroupBirth DetailsJune 01, 1929
NationalityIrish
LeagueBusiness Leader
EducationBachelor’s Degree in Arts, St. Xavier’s College, Mumbai; Regent's University London
Net Worth$15.6 billion (As of October 27, 2021)
Pallonji Mistry’s Assets:
Pallonji Mistry’s Journey so far ...
Before you go ...
- Shapoorji Pallonji Group
Pallonji Mistry’s Journey so far ...
- Pallonji Mistry joined his family’s construction business, founded by his grandfather in 1865, at the age of 18 in 1947
- During the 1970s, Mistry played a pivotal role in expanding the company’s footprints to the Middle East or West Asia
- He established his name in the Middle East with the Al Alam Palace, built for the Sultan of Oman
- Some notable buildings in India such as the Taj Mahal Palace and Towers, Oberoi Hotels and the Reserve Bank of India (RBI) headquarters were built under Mistry’s leadership
- Today, the Shapoorji Pallonji Group operates in six sectors — engineering & construction, infrastructure, real estate, water, energy and financial services
- Mistry has more than 18% stake in Tata Sons that which he has inherited, however, in September 2020, he decided to sell the stake
- According to the company’s website, the group has over 70,000 employees in more than 70 countries
- A 2016 Padma Bhushan (India’s third-highest civilian honour) awardee, Mistry is currently one of the richest Indians as well as one of the oldest billionaires of the country
Before you go ...
- According to reports, Mistry is often referred to as the Phantom of Bombay House
- He became a citizen of Ireland after marrying Patsy Perin Dubash in 2003
- Mistry’s father produced the well-known Hindi movie Mughal-e-Azam, which was directed by Karim Asif
Last Updated: 27/10/2021
Pallonji Mistry News
- Tata Trusts exit talks boost SP Group’s high-yield bonds bidShapoorji Pallonji Group is seeking a favorable exit from Tata Sons. This move could significantly reduce its borrowing costs. The group is planning to raise substantial funds through high-yield bonds. Bankers are pitching investors with a lower coupon rate, anticipating positive developments. The ascent of Noel Tata to lead Tata Trusts offers potential clarity on Shapoorji Pallonji's long-delayed stake monetization.
- Dawat-e-Hadiyah buys heritage property 'Killick House' in South MumbaiDawat-e-Hadiyah, a Dawoodi Bohra trust, has acquired Killick House, a heritage building in South Mumbai's Fort area, for over Rs 72 crore. The trust purchased the property from Nippon Investment, previously part of Videocon Group, following a Corporate Insolvency Resolution Process. This transaction is notable as entire building sales are rare in this micro-market known for its heritage structures.
- Battle of ethics: Why Ratan Tata led the ouster of his handpicked Tata Sons successor, Cyrus MistryRatan Tata's appointment as the successor to JRD Tata at Tata Sons in 1991 received strong backing from Pallonji Mistry. Their relationship evolved into a personal one with Pallonji’s daughter marrying Tata's half-brother. Conflict arose when Cyrus Mistry, Pallonji’s son, was removed as chairman in 2016, leading to legal battles and eventual fractures between the families.
- Tycoon Mistry’s SP Group weighs $2 billion asset salesSP Group is working with an adviser to seek buyer for its holdings in Afcons Infrastructure Ltd., a Mumbai-based infrastructure construction company. SP Group is also looking to sell some ports. Gopalpur Port on the east coast of India could be among assets that SP Group is looking to sell
- Cyrus Mistry's last rites to be performed at Mumbai's Worli crematorium on TuesdayMistry was killed in a road accident near Mumbai on Sunday evening. According to Palghar Police, Mistry was travelling from Ahmedabad to Mumbai when his car hit the divider. There were four people in the car. Two died on the spot, including Mistry, while the other two were shifted to hospital.
- Shapoorji Pallonji group suffers 2nd personal loss this yearCyrus' father Pallonji Mistry, who died on June 28, 2022, at the age of 93, is dubbed as 'the Phantom of Bombay House'. According to the Bloomberg billionaires index, the SP Group has a networth of about USD 30 billion in 2022.
- Cyrus Mistry no more: All you need to know about Tata Sons' former chairmanCyrus Mistry was the youngest son of construction tycoon Pallonji Mistry, who owned a significant stake, close to 19%, in the Tata group. Mistry was a civil engineer graduate from Imperial College of London, and held a Masters degree in Management from the London Business School.
- Pallonji Shapoorji Mistry: All about the business tycoonPallonji Shapoorji Mistry, Chairman Emeritus of the Shapoorji Pallonji Group, passed away at his home late last night.
- Pallonji Mistry, the billionaire caught in Tata feud, dies at 93Mistry and his family control the Shapoorji Pallonji Group, which started more than 150 years ago and today employs more than 50,000 people in over 50 countries, according to its website. Its landmark projects include the Reserve Bank of India and the Oberoi Hotel in Mumbai and the blue-and-gold Al Alam palace for the Sultan of Oman.
- As final verdict comes up in Tata-Mistry case, here's a look at their complicated, decades-old tiesTheir relationship started to unravel after the unceremonious and very public firing of Cyrus Mistry as chairman of Tata Sons in 2016. The repeated raking up of the issue through the courts, the NCLT, its Appellate body and then the SC, in addition to ancillary cases in Bombay High Court, have rocked share prices and investor confidence.
- Tata Sons offers to buy out Shapoorji Pallonji Group's stake in shares disputeA lawyer representing Tata Sons Pvt. informed the Supreme Court Tuesday of the offer to purchase the 18% stake owned by the cash-strapped Shapoorji Pallonji Group if the latter needed to raise money for paying maturing debt.
- Personal letters to Pallonji Mistry give no legal right: Ratan TataCyrus Mistry’s move seeking proportionate representation on Tata Sons board based on these an afterthought, says Tata confidant.
- Mistry group looks to raise up to $1 billion by pledging Tata stakeShapoorji Pallonji Group is the biggest single shareholder in India’s largest conglomerate.
- Tata Sons mulls legal recourse after losing round one to MistryThe ruling threatens to create more uncertainty for the group as it has immediately restored Mistry’s directorship.
- These are the 20 richest people in the automotive industrySome in this list are prominent, like Elon Musk. Others are not so much so, like Pallonji Mistry.
- Tycoon Mistry plans asset sales to cut $558 million debtThe 154-year-old group, controlled by the reclusive billionaire Pallonji Mistry and his family, expects the deals to be clinched by March next year.
- Billionaires are facing a corporate debt reckoning in IndiaThe weak performance of property businesses and an acute liquidity crunch were cited as key reasons for rating downgrades
- Tycoon Mistry's asset sales in focus after rating downgradesThe family has already infused at least Rs 650 crore ($91.1 million) into the company.
- Shapoorji Pallonji group plans rare asset sale worth $1 billionThe group will sell as much as 30 per cent in the solar engineering arm of Sterling & Wilson.
- Tycoon Pallonji Mistry battles to unlock $17 billion of his wealth in IndiaMistry is one of the largest shareholders in Tata Sons Ltd., which controls the $100 billion conglomerate.
- How unconditional warmth has endured Daruvala and Mistry families in engineering venture togetherThe families’ association dates back to 1927, when Meherwan Daruwala founded Wilson Electric Works, a small contractor in Meadows Street, Mumbai.
- Setback for Mistry: Tatas win another round of battle with AGM voteBy going private, Tata Sons hopes to become more agile and swift in decision making.
- India home to 101 billionaires, Mukesh Ambani tops list: ForbesThe Forbes list of the 'World's Billionaires' 2017 consists of 2,043 of the richest people in the world who have a combined net worth of $7.67 trillion.
- I have a lifetime ahead of me but my fight continues: Cyrus MistryThe ousted chairman feels there has been coercive behaviour as far as shareholders, independent directors and employees are concerned.
- View: Why Ratan Tata was right about Cyrus Mistry and Tata SonsRead about the reasons why the struggle between Ratan Tata and Cyrus Mistry will ultimately be good for both the Tata brand and the legacy of Jamsetji Tata.
- Family-owned retail shares voted for Cyrus MistryWhile Tata Sons, being a majority shareholder, easily won the bid to oust Mistry with a strong backing of 93% votes, a huge chunk of retail shareholders, about 78%, were seen backing Mistry, who claimed moral victory after results were made public.
- Cyrus Mistry and family owns 94% of retail shares that voted against his removalHowever, according to sources, out of 1.21 crore retail shares that voted against Mistry's removal 1.14 crore shares are owned by Mistry and associates.
- Cyrus Mistry fiasco: Acid test for brand Tata's business basicsWhat complicates matters is that the Mistry clan's Shapoorji Pallonji group has an 18.4% stake in the holding company, two-thirds of which is owned by the Tata Trusts, controlled by Ratan Tata.
- Tata orders to Pallonji drop to zero from Rs 1,124 crore in 3 years"Current contracts under the execution by the Shapoorji Pallonji Group of companies can, however, continue till completion," said Mistry's letter.
- Cyrus Mistry failed to keep trust of Trusts: InsidersThe decision to dismiss Cyrus was driven by the Trusts, which handily outgun the 18.5% held by his father Pallonji Mistry, a construction tycoon.
- Wait for Q3 and Q4, for bump up in earnings, consumption: Prateek Agarwal, ASK Investment Managers“There is stress on the economy. The metal pack is under a huge amount of stress. It has needed the support of measures like MIP to float around. Those measures are not permanent.”
- Ratan Tata assures Narendra Modi on a swift transition at the Tata GroupJust a few days back former Chairman Emeritus of Tata Sons had expressed concern over the alleged growing intolerance in the country.
- Mystery behind Mistry's exit: 5 things you should know right nowThe decision was taken collectively by the board of Tata Sons in the long-term interest of the company and on the recommendation of Tata Sons.
- Mukesh Ambani's wealth at $22.7 billion equals Estonia's GDP: ForbesSimilarly, Wipro's Azim Premji, the 4th richest Indian on the Forbes list, has a networth of USD 15 billion -- more than Mozambique's GDP of USD 14.7 billion.
- Mukesh Ambani richest Indian, net worth jumps 30% to $26 bnIndustrialist Mukesh Ambani remains India's richest person with a sharp surge of 30 per cent in his net worth to USD 26 billion, pushing his global rank.
- Dhirubhai Ambani, Pallonji Shapoorji Mistry, Shanghvi get Padma awardsR C Bhargava, Chairman of Maruti Udyog, have been conferred Padma Bhushan, the third highest civilian honour.
- Delhi HC restrains man from using sites in name of Tata group chief Cyrus Pallonji MistryThe judge noted that the domain names were created on December 20, 2011, barely a month after Tata group announced that Mistry would be taking over.
- Suvidhaa in talks with payment bank licensees for tieupSuvidhaa Infoserve, a remittance and payments company, said it’s in talks with payment bank licensees for a possible alliance or even more.
- Ola founders Ankit Bhati, Bhavish Aggarwal youngest on list of super-rich IndiansThe Indian who posted the biggest gain in wealth over the past year is reported to be Dhiraj Rajaram, the 40-year-old founder of analytics firm Mu Sigma.
- Exotic pets of the rich and famousAn African grey parrot has been missing from Sterling Bay, the Shapoorji Pallonji Mistry mansion, for a month now. Here’s looking at exotic pets of the rich and famous.
- India among top 3 nations generating most billionairesThe India list gives details of the richest people in the country with a cut off wealth of Rs 6,000 crore. Mukesh Ambani with a a wealth of Rs 1.2 lakh cr.
- Gujarat companies seek visibility by riding on Narendra Modi bandwagon“The stock of Gujarati business has been rising ever since Modi became India’s 15th prime minister," says Behram Mehta, an industrialist.
- Global citizenship catching fancy of super rich in India, ChinaSome of the noted Indian billionaires who have a second citizenship include LN Mittal, who is based in UK and Pallonji Mistry who holds an Irish citizenship.
- How Cyrus Mistry is planning to fix what isn't working at the Tata GroupCyrus Mistry spent much of the first year as chief of the 92-co Tata group creating fresh foundation and figuring out what’s working and what isn’t.
- Estate planning industry flourishes, as India's rich try to leave a lasting legacyThere are the lessons from history being drawn - as India’s old money and new money converge - on how its richie rich manage their assets.
- With $21-bn networth, Mukesh Ambani continues to be India's richest for 6th yearAs per Forbes' annual list of India's 100 richest, their total wealth grew by a modest 3 per cent from a year ago to $ 259 billion.
- Investor Rakesh Jhunjhunwala buys six Mumbai flats for Rs 176 croreBillionaire investor Rakesh Jhunjhunwala bought half of a sea-facing building, comprising six plush apartments, in Mumbai’s upmarket Malabar Hill.
- RK Krishna Kumar set to begin new innings with Ratan Tata at RNT AssociatesSet to retire on July 18 from Tata Sons, Ratan Tata’s right hand man won’t walk into the sunset. A look at the legacy he leaves behind, and the road ahead.
- As Cyrus Mistry is to Tatas, so is NR Narayana Murthy to Infosys nowMurthy has been criticised for relying on the founders-becoming-CEOs-by-rotation policy, widely believed to have been behind the current crisis.
- Bill Gates reclaims world’s richest titleBill Gates captured the title of world’s richest man from Mexican investor Carlos Slim, according to the Bloomberg Billionaires Index.
- Cyrus Mistry’s team: A look at new line of leadership & dark horses of Tata GroupOld hands at Tata Motors recall Mistry personally supervising the construction of Tata Motors factories at Pantnagar and Sanand.
- Tata Steel to assess cost overrun for Odisha projectTata Steel is evaluating the impact of cost overrun on the ongoing six million tonne greenfield steel project at Kalinga Nagar in Odisha.
- SP Group taps arm for new business foraySterling & Wilson, which recently started the solar division, has completed 22 projects so far, including the one to set up a 25-MW solar power plant in Gujarat for India's ace deal maker Vallabh Bhansali.
- Power of Ideas 2012: More enterprises, investors across various sectors seek to combine social good with profitsMore enterprises are now seeking to combine social good with profits. We turn the spotlight on a clutch of such ventures across the country.
- Mukesh Ambani richest Indian with personal wealth of $19.3 bn: ReportAccording to China-based research firm Hurun's inaugural India Rich List, Ambani is followed by the London-based steel baron L N Mittal who has a wealth of $ 16.9 billion.
- Sunday ET: Shapoor Mistry to spruce up the SP groupTo power the new businesses, the Shapoorji Pallonji group will need to step out and aggressively hire talent from the best corporations & B-schools.
- Shapoor Mistry seen within the Shapoorji Pallonji Group as a 'big picture strategist'Shapoor has taken charge as chairman & MD of SPG a little over six months before younger brother Cyrus Mistry, 43, is slated to succeed Ratan Tata.
- Shapoor Mistry brings in talent, expands role of old handsShapoor Mistry is bringing in talent, expanding the role of the old guard and identifying new business ventures at the $2-billion group.
- Shapoorji Pallonji criticises attempts to 'implicate' Cyrus Mistry in graft caseShapoorji Pallonji lashed out at what they described as attempts to "implicate" Cyrus Mistry in litigation linked to Nitish Thakur, a suspended deputy collector.
- Brand India saving grace in time of crisisOver the last couple of years, India has been seen stamping its presence in the league of global leaders by the strength of its economic power.
- India Inc prefers an internal candidate as successor rather than an outsiderChoosing an internal candidate for top post provides multiple benefits for corporates, and also sends out a message that hardworking people would be rewarded.
- Ratan Tata, Cyrus Mistry call on Commerce Minister Anand SharmaRatan Tata and Mistry declined to speak to the waiting media at Udyog Bhavan on the agenda of their meeting with Sharma.
- ET Awards' sideshow: The lighter side of otherwise serious businessmenThe woman, who Rajiv Bajaj felt deserved a bigger award than the one he received, Ruparani Bajaj, provided an even-handed view of the father-son relationship.
- Cyrus P Mistry, son of Tata Sons' largest shareholder Pallonji Mistry to have a long stint at Tata GroupCyrus Mistry was the surprise choice of the Tata Sons selection committee which plumped for the construction tycoon and overlooked the claims of Noel Tata.
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