Shapoorji Pallonji Group’s chief business tycoon Pallonji Mistry passes away at the age of 93

Business tycoon Pallonji Mistry, who headed the Shapoorji Pallonji Group, passed away at the age of 93. Over 150 years old, the Shapoorji Pallonji Group is one of India’s largest business firms and the reclusive billionaire – Pallonji Mistry – is credited for its success.

In 2016, he had received Padma BhushanThe country’s third highest civilian award, for his contribution as an industrialist. He was one of the oldest billionaires of India. Born in a Parsi family of Gujarat, this business tycoon passed away last night in Mumbai.

as per latest forbes dataHis net worth was over US$13 billion, ranking 143rd worldwide.

Established in 1865, construction giant Shapoorji Pallonji Group comprises six business segments – engineering and construction, infrastructure, real estate, water, energy and financial services. It is spread over 50 countries.

Pallonji Mistry’s elder son, Shapoorji Mistry, is the Chairman of Shapoorji Pallonji & Co Pvt. Ltd.

His younger son, Cyrus Mistry, was the chairman of Tata Sons’ chairman between 2012 and 2016. He was ousted amid a controversy that turned into one of India’s closest corporate battles in recent times. He is also survived by two daughters – Laila Mistry and Aloo Mistry.

Construction businessman Pallonji Mistry acquired Irish citizenship. His family emerged as the largest holding of shares in the huge Tata group.

He was nicknamed the “Phantom of Bombay House” for his powerful boardroom presence.

Shapoorji Pallonji Group boasts of having built several iconic buildings which include Reserve Bank of India, Citibank Headquarters in India, SAIL Steel Plant, Jawaharlal Nehru Stadium in Delhi.

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