Shapoorji Pallonji Group
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Shapoorji Pallonji & Company Private Limited (SPCPL), trading as Shapoorji Pallonji Group, is an Indian conglomerate headquartered in
Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...
. Its primary business interests include construction and engineering, infrastructure, real estate, energy, and textiles, among others. The company was headed by a grandson of founder Pallonji Mistry, also named Pallonji Mistry, until 2012, when he announced his retirement and the succession of his son, Shapoor Mistry. Shapoorji Pallonji is regarded as "one of India's most valuable private enterprises". The Shapoorji Pallonji Group has three listed companies– Afcons Infrastructure, Forbes & Company Ltd, and Gokak Textiles. The company is known for building some of Mumbai's landmarks around the Fort area, including the Hong Kong Bank, Grindlays Bank,
Standard Chartered Bank Standard Chartered PLC is a British multinational bank with operations in wealth management, Wholesale banking, corporate and investment banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retai ...
and
Reserve Bank of India Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...
building,
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 ...
building and Taj Intercontinental. Apart from these, the company has built Al Alam Palace for the Sultan of Oman in 1972. Other notable projects include The Imperial in Mumbai,
Jumeirah Lake Towers The Jumeirah Lakes Towers (JLT) () is a large development in Dubai, United Arab Emirates which consists of 80 towers constructed along the edges of three artificial lakes (Lake Almas West, Lake Almas East, JLT Lake) as well as the JLT Embankment o ...
in Dubai and Ebene Cyber City in Mauritius.


History

The company was founded as a partnership firm Littlewood Pallonji in 1865. The first project was the construction of a pavement on the Girgaum Chowpatty, followed by being part of the construction of a reservoir on
Malabar Hill Malabar Hill is amongst the most affluent residential areas in Mumbai. It is home to several business tycoons and film personalities. Muhammad Ali Jinnah, the founder of Pakistan, had built and lived in a bungalow, called South Court, in Malab ...
which supplied water to Mumbai for over 100 years. The company also built the
Brabourne Stadium The Brabourne Stadium is an international cricket stadium in Mumbai in Western India, built in the British Bombay era. It is the home ground of the Mumbai men's and Mumbai women's cricket team, women's cricket teams. It can accommodate 50,000 pe ...
in Mumbai and the Jawaharlal Nehru Stadium in
Delhi Delhi, officially the National Capital Territory (NCT) of Delhi, is a city and a union territory of India containing New Delhi, the capital of India. Straddling the Yamuna river, but spread chiefly to the west, or beyond its Bank (geography ...
. The Mumbai Central Railway station, was also built by them at a cost of 1.6
crore Crore (; abbreviated cr) denotes the quantity ten million (107) and is equal to 100 lakh in the Indian numbering system. In many international contexts, the decimal quantity is formatted as 10,000,000, but when used in the context of the India ...
. The company was commended for completing the work within 21 months. In 1936, Shapoorji Pallonji bought F.E. Dinshaw and Co. after the death of its promoter. F.E. Dinshaw was an established finance firm that had high-profile dealings such as arranging a loan from the
Maharaja of Gwalior The Gwalior State was a List of Maratha dynasties and states, state within the Maratha Confederacy located in Central India. It was ruled by the Scindia, House of Scindia (anglicized from Sendrak), a Hindu Maratha Confederacy, Maratha dynasty. ...
for
Tata Steel Tata Steel Limited is an Indian multinational steel-making company headquartered in Mumbai, Maharashtra, with its primary operations based in Jamshedpur, Jharkhand. It is a subsidiary of the Tata Group. Formerly known as Tata Iron and Steel ...
(then TISCO) in 1924 and merging local cement companies to form ACC Cement in 1936. F.E. Dinshaw and Co. also had a 12.5% stake in
Tata Sons Tata Sons Pvt. Ltd. is the holding company of the Tata Group, headquartered in Mumbai. It owns the bulk of shareholding in the Tata group of companies including their land holdings across India, tea estates and steel plants, and derives its reve ...
, which came to Shapoorji Pallonji. Shapoorji Pallonji's stake in Tata Sons increased to 18.37% after the latter's
rights issue A rights issue or rights offer is a dividend of subscription rights to buy additional securities in a company made to the company's existing security holders. When the rights are for equity securities, such as shares, in a public company, it can ...
in 1996. In 2001–02, Shapoorji Pallonji took over Forbes Gokak (now Forbes & Company Ltd) from the
Tata Group The Tata Group () is an Indian multinational conglomerate group of companies headquartered in Mumbai. Established in 1868, it is India's largest business conglomerate, with products and services in over 160 countries, and operations in 100 c ...
after winning a takeover battle with the Pawankumar Sanwarmal Group. In recent years, it has built the Barakhamba Underground Station in Delhi and
Providence Stadium The Providence Stadium or Guyana National Stadium is a sports stadium in Guyana, replacing Bourda as the national stadium. The stadium was built specifically to host Super Eight matches in the 2007 Cricket World Cup held in March and April 2007. ...
in
Guyana Guyana, officially the Co-operative Republic of Guyana, is a country on the northern coast of South America, part of the historic British West Indies. entry "Guyana" Georgetown, Guyana, Georgetown is the capital of Guyana and is also the co ...
. After the
2008 Mumbai attacks The 2008 Mumbai attacks, also referred to as 26/11 attacks, were a series of coordinated Islamic terrorism, Islamist terrorist attacks that took place in November 2008, when 10 members of Lashkar-e-Taiba, a Pakistan-based Islamist terrorist o ...
, the company was involved in the repairs and renovation of Taj Mahal Palace & Tower that was severely damaged by the attack. In 2010, it built India's tallest building of the time, The Imperial, a residential tower in Mumbai. In 2012, Shapoor Mistry announced that the Group had plans to invest in a deep-sea port, an IT park, hydro electricity and construction of roads and night shelters for the poor in
West Bengal West Bengal (; Bengali language, Bengali: , , abbr. WB) is a States and union territories of India, state in the East India, eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabi ...
. In 2012, Shapoorji Pallonji Ports Pvt Ltd was planning to build Simar Port in
Gujarat Gujarat () is a States of India, state along the Western India, western coast of India. Its coastline of about is the longest in the country, most of which lies on the Kathiawar peninsula. Gujarat is the List of states and union territories ...
with SPV name Simar Port Private Limited. In January 2016, the Group launched its first affordable housing brand, Joyville Homes. Shapoorji Pallonji Group began a series of divestments to reduce its debt, starting with the
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
of Sterling & Wilson Solar in 2019. In 2021–2022, Shapoorji Pallonji Group demerged Eureka Forbes from Forbes & Company Ltd and sold its entire stake in Eureka Forbes to
Advent International Advent International Corporation is an American global private equity firm. It is focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strat ...
. By 2024, Shapoorji Pallonji's stake in Sterling & Wilson Solar had reduced to 6.95% from 65.77% in 2019. In 2023, Shapoorji Pallonji Group sold PNP Port in Raigad district to
JSW Group JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and founded by Om Prakash Jindal. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across In ...
. In 2024, Shapoorji Pallonji Group sold its controlling stake in Gopalpur port to
Adani Ports & SEZ Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian multinational port operator and logistics company, part of Adani Group. APSEZ is India's largest private port operator with a network of 12 ports and terminals, including Indi ...
.


Other works

The Shapoorji Pallonji has also had a brief involvement with
Bollywood Hindi cinema, popularly known as Bollywood and formerly as Bombay cinema, is primarily produced in Mumbai. The popular term Bollywood is a portmanteau of "Bombay" (former name of Mumbai) and "Cinema of the United States, Hollywood". The in ...
. Released in 1960, K. Asif's ''
Mughal-e-Azam ''Mughal-e-Azam'' () is a 1960 Indian Epic film, epic historical drama film produced and directed by K. Asif. Starring Prithviraj Kapoor, Dilip Kumar, Madhubala, and Durga Khote, it follows the love affair between Mughal Empire, Mughal Prince ...
'' was funded by the group with a budget of 1.5 crore, which made it the most expensive Bollywood film till then and a record it held for many years. More than four decades later, the group funded a digital remastering of the film at a budget of 5 crore, which was released on 12 November 2004. Shapoor Mistry, grandson of Shapoorji Pallonji Mistry, thought it a fitting tribute to complete his grandfather's unfinished dream of colourising the film, especially as the original was produced by his grandfather. In 2016, Shapoorji Pallonji Group, in association with the
National Centre for the Performing Arts (India) National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, ...
, co-produced ''
Mughal-e-Azam ''Mughal-e-Azam'' () is a 1960 Indian Epic film, epic historical drama film produced and directed by K. Asif. Starring Prithviraj Kapoor, Dilip Kumar, Madhubala, and Durga Khote, it follows the love affair between Mughal Empire, Mughal Prince ...
'', a Broadway-style
musical Musical is the adjective of music. Musical may also refer to: * Musical theatre, a performance art that combines songs, spoken dialogue, acting and dance * Musical film Musical film is a film genre in which songs by the Character (arts), charac ...
directed by Feroz Abbas Khan, and based on the 1960 Bollywood film ''Mughal-e-Azam''.


Key people


Shapoor Mistry

Shapoor Mistry is an Indian businessman who inherited the group in December 2012, succeeding his brother
Cyrus Mistry Cyrus Pallonji Mistry (4 July 1968 – 4 September 2022) was an Indian-born Irish billionaire businessman. He was the chairman of the Tata Group, an Indian business conglomerate, from 2012 to 2016. He was the sixth chairman of the group, ...
, who left to lead the
Tata Group The Tata Group () is an Indian multinational conglomerate group of companies headquartered in Mumbai. Established in 1868, it is India's largest business conglomerate, with products and services in over 160 countries, and operations in 100 c ...
. Forbes ranked Mistry #332 in their 2023 World's Billionaires List, totaling $7 billion in net worth. In October 2024, Mistry and his family were ranked 13th on Forbes list of India’s 100 richest tycoons, with a net worth of $20.4 billion.


See also

*
Cyrus Mistry Cyrus Pallonji Mistry (4 July 1968 – 4 September 2022) was an Indian-born Irish billionaire businessman. He was the chairman of the Tata Group, an Indian business conglomerate, from 2012 to 2016. He was the sixth chairman of the group, ...
*
Tata Group The Tata Group () is an Indian multinational conglomerate group of companies headquartered in Mumbai. Established in 1868, it is India's largest business conglomerate, with products and services in over 160 countries, and operations in 100 c ...


References

{{Reflist Companies based in Mumbai Indian companies established in 1865 Companies based in Bengaluru Shapoorji Pallonji Group Conglomerate companies established in 1865