Pallonji Shapoorji Mistry

Pallonji Shapoorji Mistry, often described as being media shy, is a construction tycoon from India. He also benefits from his 18.5 % stake (as last published) in Tata Sons which is the holding company of the Tata conglomerate.

Noel Tata the CEO of Retail arm of Tata’s is his son-in-law. Noel Tata is also the half-brother of Ratan Tata. The fifth richest Indian and Chairman of the Shapoorji Pallonji Group, Pallonji Mistry is a man who rarely appears in public. His employees call him the man with no faults, his friends describe him as humble and within the Tata Group he’s known as the Phantom of Bombay House.

An association that’s half a century old and yet nowhere in the history of the Tata Group is the Mistry family mentioned by name. The Group’s largest stakeholder Pallonji Mistry’s father Shapoorji, muscled his way into Tata Sons by buying out solicitor FE Dinshaw’s estate which was equal to 12.5% of Tata Sons. When JRD Tata took over, Shapoorji took advantage of the Group’s uncertainty and bought out other Tata family members – increasing his stake to 16.5%. Yet the construction contractor was always considered an outsider and his family’s relations with the Tatas eased only when Noel Tata, Ratan Tata’s stepbrother, married Pallonji’s daughter, Aloo.

Today, Pallonji owns 18.35% of Tata Sons, while Ratan Tata himself owns less than a per cent. When TCS went public, Pallonji was the biggest beneficiary, netting more than even the Tata companies. His networth, estimated by Forbes in 2003 was Rs 9,200 crore. He’s always been a silent stakeholder, choosing instead to focus on the international expansion of his own construction group, The Shapoorji Pallonji Group. The Group’s now diversified into textile and IT parks.