The 160-year-old Shapoorji Pallonji Group is an Indian conglomerate headquartered in Mumbai.
Its primary business interests include construction and engineering, infrastructure, real estate, energy, and textiles, among others.
The SP Group's “crown jewel” Afcons Infrastructure was acquired from ICICI Bank in 2000. It went public in Nov 2024. It now has a market cap of over Rs 15,500 crore.
The global, diversified organization of 15 major companies has a workforce of over 33,000+ people in over 40 countries
The company was founded as a partnership firm Littlewood Pallonji in 1865.
Shapoorji, the group patriarch built some of Mumbai's landmarks around the Fort area – the Hong Kong & Shanghai Bank, the Grindlays Bank, the Standard Chartered Bank, the State Bank of India and the Reserve Bank of India buildings.
His son Pallonji Mistry (1929 – 28 June 2022) succeeded him as the chairman of the Shapoorji Pallonji Group.
Pallonji Mistry had two sons and two daughters. His elder son, Shapoor Mistry (b. 1964), runs the Shapoorji Pallonji group, while his younger son, the late Cyrus Mistry (1968—2022), served for some years as chairman of the Tata group. Mistry's elder daughter is Laila. His younger daughter, Aloo, is married to Noel Tata, half-brother of Ratan Tata.
The SP Group is now equally owned by Shapoorji and his two nephews, Firoz Mistry and Zahan Mistry, children of the late Cyrus Mistry.
The Pallonji Mistry family is the largest individual shareholder in Tata Sons. They have held a stake in the company since 1936 and currently own an 18.4% share.
Pallonji's son, Cyrus, was chairman of Tata Sons from November 2011 to October 2016.
In the past, the Pallonji Mistry family supported Ratan Tata’s chairmanship at Tata Sons.
In recent years, they have been seeking to exit Tata Sons, especially after their relationship with Ratan soured in 2016, but their requests were rejected by Tata Trusts.
They have backed Noel Tata’s appointment to the board of the holding company of the $180 billion Tata Group. Noel, 69, is the son-in-law of the late Pallonji Mistry and was nominated to the board of Tata Sons by its largest shareholder, Tata Trusts.
Mistrys are all Irish. In 2003, Pallonji gave up his Indian citizenship to become an Irish citizen "on the basis of his marriage to an Irish-born national", Pat "Patsy" Perin Dubash
Pallonji Mistry was awarded the Padma Bhushan in 2016.