The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as

healthcare Health care, or healthcare, is the improvement or maintenance of health via the preventive healthcare, prevention, diagnosis, therapy, treatment, wikt:amelioration, amelioration or cure of disease, illness, injury, and other disability, physic ...

life sciences This list of life sciences comprises the branches of science that involve the scientific study of life – such as microorganisms, plants, and animals including human beings. This science is one of the two major branches of natural science, ...

drug discovery In the fields of medicine, biotechnology, and pharmacology, drug discovery is the process by which new candidate medications are discovered. Historically, drugs were discovered by identifying the active ingredient from traditional remedies or ...

financial services Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

alternative investment An alternative investment, also known as an alternative asset or alternative investment fund (AIF), is an investment in any Asset classes, asset class excluding capital stocks, Bond (finance), bonds, and cash. The term is a relatively loose ...

and real estate.

History

In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited (later renamed as Piramal Glass), a manufacturer of glass packaging for

pharmaceutical Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

and cosmetic products. In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the

pharmaceutical industry The pharmaceutical industry is a medical industry that discovers, develops, produces, and markets pharmaceutical goods such as medications and medical devices. Medications are then administered to (or self-administered by) patients for curing ...

. Over the decade, the company acquired many business units to strengthen their presence. In November 1993, Swiss drug multinational Hoffmann-La Roche sold its Indian subsidiary, Roche Products (India) Ltd to Piramal Enterprises, including its assets like the Vitamin-A producing Fine Chemicals Plant in Balkum, Thane. Roche Products was later renamed Piramal Healthcare Ltd. In 1999, Piramal Glass acquired Ceylon Glass Company Limited, Sri Lanka. In 2006, the company bought

Pfizer Pfizer Inc. ( ) is an American Multinational corporation, multinational Pharmaceutical industry, pharmaceutical and biotechnology corporation headquartered at The Spiral (New York City), The Spiral in Manhattan, New York City. Founded in 184 ...

’s UK manufacturing facility in Morpeth. The company also formed the Piramal Foundation, a philanthropic arm of the group. In 2007, it underwent a deal with Merck Pharmaceuticals for development and discovery of new drugs. In 2008, it signed a second drug development deal with

Eli Lilly and Company Eli Lilly and Company, Trade name, doing business as Lilly, is an American multinational Medication, pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 count ...

. The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd. In 2010, Piramal Healthcare sold its domestic formulations business to Abbott for $3.72 billion (about 18,000 crore). It was considered to the "most expensive pharma deal ever" by

Forbes India ''Forbes India'' is the Indian edition of ''Forbes'', which is managed by the Reliance Industries-owned media conglomerate, Network 18. History and profile Since its founding in 2008, ''Forbes India'' has achieved a circulation of 50,000 copies ...

. Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services to SRL for 600 crore. In the same year, the group formed its own real estate entity, Piramal Realty. 2011 saw

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...

ranking Piramal Healthcare in the top-50 largest corporations across India. UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar. In 2014, it sold its 11% Stake in

Vodafone India Vodafone India was the India, Indian Subsidiary company, subsidiary of United Kingdom, UK-based Vodafone Group and was a Internet Service Provider, provider of Telecommunications service, telecommunications services in India with its operationa ...

to Prime Metals, an indirect subsidiary of

Vodafone Group Vodafone Group Public Limited Company () is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and ...

. In 2012, Piramal Healthcare was renamed to Piramal Enterprises Ltd. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company. Piramal Enterprises acquired the brand Caladryl in India. Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in the skin care segment. Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of florbetaben F18. European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F). In December 2020, Piramal Glass was sold to

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...

for 1 billion.

Group companies

The Piramal Group comprises 3 key companies: Piramal Finance Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at both

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange based in Mumbai. It is the 6th largest stock exchange in the world by total market capitalization, exceeding $5 trillion in May 2024. Established with t ...

and National Stock Exchange.

Piramal Finance

Piramal Finance Limited, earlier known as Piramal Enterprises, is the flagship company of Piramal Group and active in

. It is involved in retail lending, housing finance, and vehicle financing. Earlier, named Piramal Enterprises, it had two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest. It also holds minority stakes in Shriram Group companies. In 2021, Piramal acquired the bankrupt Dewan Housing Finance Corporation and merged it with PCHFL. PCHFL's retail finance division provides microlending and

buy now, pay later Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases while only initially paying for a portion of their value, postponing payment of the remainder of the debt until a future date, or dividing it into ...

services on behalf of partner

fintech Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

companies like ZestMoney, Moneyview, EarlySalary, Navi Group and KreditBee, and is also engaged in vehicle financing for partner companies like CARS24, CarDekho and Spinny. Apart from retail finance, it is also involved in corporate lending and real estate finance. Since 2016, Piramal Enterprises and Bain Capital Credit have been operating a partnership called India Resurgence Fund (IndiaRF), an

investment fund An investment fund is a way of investment, investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These ad ...

for financially distressed Indian companies. Piramal Capital Fund (PCF), a partnership between Piramal Enterprises and CDPQ that was started in 2020, provides corporate financing services. Both IndiaRF and PCF are managed by Piramal Alternatives, an

asset management company An asset management company is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more dive ...

set up by Piramal Enterprises in 2021. In 2025, the Piramal Enterprises merged with its subsidiary named Piramal Finance, thus giving it the name. This merger helped the company become an NBFC

Piramal Pharma

Piramal Pharma Limited is active in business verticals including

pharmaceuticals Medication (also called medicament, medicine, pharmaceutical drug, medicinal product, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy ( pharmacotherapy) is an important part of the ...

and

. Its business divisions include Piramal Pharma Solutions, a contract development and manufacturing organization; Piramal Critical Care, a manufacturer of

inhalational anesthetic An inhalational anesthetic is a chemical compound possessing general anesthetic properties that is delivered via inhalation. They are administered through a face mask, laryngeal mask airway or tracheal tube connected to an anesthetic vaporiser ...

s and other hospital generics; and Piramal Consumer Products Division, an

over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid pres ...

consumer healthcare products business. Piramal Pharma Limited was demerged from Piramal Enterprises in 2022. Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals and Convergence Chemicals. It also has a joint venture with

Allergan Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. ...

in the

ophthalmology Ophthalmology (, ) is the branch of medicine that deals with the diagnosis, treatment, and surgery of eye diseases and disorders. An ophthalmologist is a physician who undergoes subspecialty training in medical and surgical eye care. Following a ...

products segment.

Piramal Realty

Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads, at

South South is one of the cardinal directions or compass points. The direction is the opposite of north and is perpendicular to both west and east. Etymology The word ''south'' comes from Old English ''sūþ'', from earlier Proto-Germanic ''*sunþa ...

Mumbai.

Piramal Foundation

The Piramal Foundation is a private

philanthropic Philanthropy is a form of altruism that consists of "private initiatives for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...

foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya (a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal (provides clean water in India through solar powered water ATMs), source for change (rural BPO for rural youth in Bagar, Rajasthan), Pratham (delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize (recognizes emerging ventures and established organizations).

References

External links

* {{Nifty 200 companies Health care companies of India Holding companies of India Real estate companies of India Companies based in Mumbai Indian companies established in 1984 Conglomerate companies established in 1984 Holding companies established in 1984 Real estate companies established in 1984 Warburg Pincus companies Piramal Group 1984 establishments in Maharashtra