Pallonji Shapoorji Mistry (born 1929) is an Irish Indian construction tycoon and chairman of Shapoorji Pallonji Group. According to Forbes, his wealth is estimated to be US$16.9 billion as of September 2016. With his 18.4% 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 Textiles and Eureka Forbes Limited. He is also the former Chairman of Associated Cement Companies. Pallonji gave up his Indian citizenship in 2003 to obtain Irish citizenship, because India does not yet allow dual citizenship. His son Cyrus was chairman of Tata Sons from November, 2011 to October, 2016. A short biography of Mistry was written in a 2008 book by Manoj Namburu titled The Moguls of Real Estate. He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of Trade and Industry.
Personal life and wealth
Mistry’s father first bought shares in the Tata Sons in the 1930s, a stake that currently stands at 18.4%. Mistry is the largest single shareholder in Tata Sons, a firm mostly controlled by trusts. 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 & Shanghai Bank, the Grindlays Bank, the Standard Chartered Bank, the State Bank of India and the Reserve Bank of India buildings.
He is an alumnus of the prominent Cathedral & John Connon School as well as Imperial College London.
Within the Tata Group he is known as the Phantom of Bombay House for the quiet but assured way he commands power around the south Mumbai headquarters of the Tata empire.
In 2003, he became an Irish citizen “on the basis of his marriage to an Irish born national”, Pat (Patsy) Perin Dubash, who was born in September 1939 in Hatch Street Nursing House in Dublin. He gave up his Indian citizenship as the Indian Government currently does not allow dual citizenship, though he remains resident in Mumbai. He owns a stake in the Taj Mahal Hotel. The family’s interest in Ireland is compounded by their love of horses. They own a 200 acres (0.81 km2) stud farm in Pune, India. Mistry also owns a 10,000-square-foot (930 m2) home in Pune.
He has two sons and two daughters. One daughter, Aloo, is married to Noel Tata, the half-brother of Ratan Tata.
Pallonji Mistry is from vaishya community, his religion being Zoroastrianism.