Pallonji Mistry – Richest Parsi in Ireland

Pallonji Mistry – Richest Parsi in Ireland

Pallonji Shapoorji Mistry is an Irish/Indian entrepreneur and construction tycoon. With his 18.5% stake in Tata Sons, he is the single largest shareholder in India’s largest private conglomerate Tata Group. He is also the Chairman of the Shapoorji Pallonji Group through which he owns Shapoorji Pallonji Construction Limited, Forbes & Company Ltd. and Eureka Forbes Limited. He is also the former Chairman of Associated Cement Companies. In 2007, Forbes estimated his total fortune to be worth US$ 5.9 billion. [1] Pallonji gave up his Indian citizenship in 2007 to adopt Irish citizenship, making him the second richest Irish national in the world, behind Sean Quinn. [2]

Nicknamed by his colleagues in Tata Group as the Phantom of Bombay House, Pallonji, despite being one of the most successful businessmen in India, is known for his media-shyness and rarely appears in public. A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate. [3]

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Cyrus Bulsara adds :

Pallonji Mistry, an Indian origin business magnate, has topped Ireland’s rich list with a worth of 3.9 billion pounds ($5.93 billion).

Mistry, who became an Irish citizen in 2003 through his Irish born wife, has interests in real estate, cars, heavy industry, tea and partly owns the Taj Mahal Hotel.

Mistry, who is in his 70s, reportedly has 18.4 per cent stake in Tata Sons.

The 79-year-old Mistry is ranked 129th on the world billionaire list. He is also the 11th richest Indian.
Mistry is an affable and humble person seldom willing to assert his authority or position. However, he carries a high degree of credibility in his business dealings.

Noel Tata, Ratan’s half-brother and the son of Simone Tata, is married to Mistry’s eldest daughter, Aloo.

Mistry’s sons Shapoor and Cyrus are on the board of Indian Hotels and Tata Power, respectively.

The Mistrys have a huge construction company, Shapoorji Pallonji. Shapoorji, the group patriarch and Pallonji’s father, built some of Mumbai’s landmarks around the Fort area — the Hong Kong Bank, Grindlays Bank, Standard Chartered Bank and Reserve Bank of India building.

Pallonji Mistry extended the construction interests of the group to the Middle East by bidding for the Sultan of Oman’s palace.

4 comments

  • manoj kumar srivastava

    I manoj kumar working in splibya .i have intrest in history. I m working with spcl since 2004. Sp group is very very fine. My good wish, pray for him.

  • Hello…Any ZOROASTRIAN student of Pune city having scored DISTINCTION in current exam results of June / July 2010 are invited to write to the POONA PARSEE PANCHAYAT with documents of passing, photo, Exam I. Card and send it to P.P.P. by post, courier, email ( ppp.1953@yahoo.com ) or by hand latest by 30 JUNE 2010 so that PPP can felicitate them and encourage Parsees/Iranis in academic pursuit….. Please pass on this message to all zoroastrians in PUNE CITY…..Rumy Mehta. Secretary – PPP.

  • Hello,
    I appreciate the contributions & achievements by Parsis in Indian Business
    However it is experienced that most of their business units do not pay their vendors in time.
    The business heads like Tatas & SP Groups should watch and see mobility of funds is continued.

  • mr. shapoorji pallonji mistry, ahura mazda has blessed you. Five and ten billion here and there , how much for zorastrianism , everyday request for funds for repairs to FIRE TEMPLES as their corpus does not allow TO DO SO.

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