Pallonji Shapoorji Mistry Biography
Pallonji Shapoori Mistry is an industrialist in the construction business and is many times said to be shy of the media attention. He has 18.5% percent of share in Tata Sons which is one of the companies under the Tata Group of Companies and it is because of his stake that he enjoys benefits from them.
The Chief Executive Officer of the retail arm of the Tata group of companies, Mr. Noel Tata is married to his daughter. Noel Tata and Ratan Tata are half-brothers. Pallonji Shapoorji Mistry is the Chairperson of Shapoorji Pallonji Group of Industries, and also the 5th wealthiest man of India, but he is seen neither by the public nor by the media. The people who work for him have labeled him the faultless man; His acquaintances portray him as modest and inside the Tata Group as” Phantom of Bombay House”
The Mistry’s have been associated with the Tata’s for more than fifty years though they have not been mentioned anywhere in the Tata Group history. The biggest shareholder of the Group was the father of Pallonji Mistry’s, Shapoorji who had to fight his way to get some shares of Tata Sons.
In order to do this, he bought the estate of Dinshaw who was a solicitor and whose share was equivalent to twelve and a half percent of the Companies shares. It was during the period when JRD Tata came that there was uncertainty within the Tata group of which Shapoorji took advantage and bought some Tata members thus making his share increase by 4%. Still, the Mistry family was never considered insiders and this continued till Noel Tata who is the stepbrother of Ratan Tata married the daughter of PAllonji.
At present times Ratan Tata has less than 1% share in the company while PAllonji has an 18.35% share in Tata Sons. When the shares of the TCS were open to the public, Pallonji was the one who benefitted the most. His benefits crossed more than what the Tata companies got.
When the valuation of his assets was done by the Forbes it was estimated to be around nine thousand two hundred crores. He chose to expand his business internationally by being a silent shareholder of his construction group, the Shapoorji Pallonji Group. Apart from Construction, the group has now diversified itself into I.T.parks as well as textiles.