Who is Cyrus Mistry?
Posted on: 07:01 PM IST Nov 23, 2011
Cyrus Mistry, 43, is the son of construction tycoon Pallonji Shapoorji Mistry who, valued at $8.8 Billion, is the richest richest person of Parsi descent followed by Adi Godrej at $7.3 Billion.
Pallonji holds a 18.5 per cent stake in Tata Sons, making him the single largest shareholder in India's largest private conglomerate Tata Group.Cyrus is the younger son of Pallonji and is married to Rohika Chagla, the daughter of lawyer Iqbal Chagla. His elder brother, Shapoor Mistry, is married to Behroze Sethna, the daughter of lawyer Rusi Sethna. His sisters, Laila and aloo are married to Rustom Jehangir and Noel Tata, the half-brother of Ratan Tata, respectively.Apart from being a director of Tata Sons since September 1, 2006, Cyrus is the scion of a family that owns Shapoorji Pallonji Construction Limited, Forbes Textiles and Eureka Forbes Limited. The family also owns a stake in the iconic Taj Mahal Hotel in Mumbai.Cyrus P Mistry, 43 , joined the board of Shapoorji Pallonji & Co. Ltd as Director in 1991 and was appointed the Managing Director, Shapoorji Pallonji Group in 1994. He is a graduate of Civil Engineering from Imperial College, UK (1990) and has a M.Sc. in Management from London Business School (1997).Under Cyrus' guidance, Shapoorji Pallonji's construction business has grown from a turnover of USD 20 million to approximately USD 1.5 billion. The companies have evolved from pure construction to now executing projects under design & build and EPC delivery methodologies, implementing complex projects in the marine, oil and gas, rail sectors. Under Cyrus' stewardship, the companies registered many firsts in India construction of the tallest residential towers, the longest rail bridge, the largest dry dock and the largest affordable housing project. The group's international construction business is now present in over 10 countries.Cyrus was responsible for building the infrastructure development vertical in the Shapoorji Pallonji Group starting in 1995 with a 106 MW power project in Tamil Nadu followed by the development of the India's largest biotech park near Hyderabad in partnership with the Andhra Pradesh government. The Infrastructure vertical has also developed two large road projects totaling an investment of USD 550 million. Shapoorji Pallonji Group's recent foray into agriculture & bio fuels, with the leasing of 50,000 hectares in Ethiopia, was overseen by Cyrus P. Mistry.Cyrus joined the Board of Tata Sons in 2006. He has been a Director of Tata Power and Tata Elxsi in the past. He is also on the Board of the Construction Federation of India, Imperial College Advisory Board, on the Board of Governors of NICMAR, and is a Fellow of the Institute of Civil Engineers.