Shapoorji Pallonji Group Chairman Pallonji Mistry passed away last night at the age of 93 at his Mumbai residence. More than 150 years old, Shapoorji Pallonji Group is one of the largest business firms in India, raised to this position by billionaire Pallonji Mistry. Pallonji Mistry lived in Mumbai with his family and has spread business from here in 6 different sectors.
In 2016, Mistry was awarded the Padma Bhushan, one of India’s top civilian awards. At the same time, he was the largest individual shareholder in the Tata group, holding 18.4 percent stake. On his demise, Union Minister for Women and Child Development, Smriti Irani said in a tweet, “An era is ending, one of the greatest joys of life was to see his talent, his gentleness at work. My condolences to the family and their loved ones.”
Pallonji Mistry was one of the oldest billionaires of India. Born in a Parsi family of Gujarat, this business tycoon achieved many milestones. His net worth is more than US$13 billion, ranking him 143rd in the world according to new figures from Forbes.
Business spread in 50 countries
Veteran businessman Pallonji Mistry’s business is spread over 50 countries of the world. The construction giant Shapoorji Pallonji Group was established in 1865, which does six types of business, in which it does business like engineering and construction, infrastructure, real estate, water, energy and finance services.
Family members
Pallonji Mistry’s elder son, Shapoorji Mistry, is the Chairman of Shapoorji Pallonji & Co Pvt Ltd. His younger son, Cyrus Mistry, who was the chairman of Tata Sons between 2012 and 2016, was ousted amid a controversy. Apart from this, he also has two daughters in his family – Laila Mistry and Aloo Mistry. Businessman Pallonji Mistry is also called by the nickname “Phantom of Bombay House”.
These giants have built buildings
Shapoorji Pallonji Group claims to have built several famous buildings, including Reserve Bank of India, Citibank Headquarters in India, SAIL Steel Plant, Jawaharlal Nehru Stadium in Delhi.