Shapoorji Pallonji Group
|Key people||Pallonji Mistry,
|Revenue||US$ 2.5 billion|
The Shapoorji Pallonji Group (SP Group) is a Mumbai based business conglomerate in India with interests in construction, real estate, textiles, engineering goods, home appliances, shipping, publications, power, and biotechnology. It was headed by Pallonji Mistry until 2012, when he announced his retirement and his son Shapoor Mistry took charge. Shapoorji Pallonji is regarded as "one of India's most valuable private enterprises". The promoters of the group are also the largest individual shareholders in Tata Sons, the holding company of the Tata Group. The US$2.5 billion Shapoorji Pallonji Group have two listed companies, Forbes & Company Ltd. (BSE: 502865), and Gokak Textiles. Forbes was already listed when bought by Shapoorji Pallonji, though there was speculation in 2006 that group company Afcons Infrastructure would go public via an IPO.
The company is known for building some of Mumbai's landmarks around the Fort area, including the Hong Kong Bank, Grindlays Bank, Standard Chartered Bank and Reserve Bank of India building, Bombay Stock Exchange building and Taj Intercontinental. Apart from these, the company has built a stone palace for the Sultan of Oman in 1971. After the 2008 Mumbai Attacks, the company was involved in the repairs and renovation of Taj Mahal Palace & Tower which was severely damaged by the attack. Other notable projects include The Imperial in Mumbai, Jumeirah Lake Towers in Dubai and Ebene Cyber City in Mauritius. In 2012, Shapoor Mistry announced that the Group had plans to invest in a deep-sea port, an IT park, hydro electricity and construction of roads and night shelters for the poor in West Bengal.
The company was founded as a partnership firm Littlewood Pallonji, in 1865. The first project was the construction of a pavement on the Girgaum Chowpatty, followed by being part of the construction of a reservoir on Malabar Hill which supplied water to Mumbai for over 100 years. The company also built the Brabourne stadium in Mumbai and the Jawaharlal Nehru stadium in Delhi. The Mumbai Central Railway station, was also built by them at a cost of 1.6crore. The company was commended by the then Governor of Bombay for completing the work within 21 months. In recent years, it has built the Barakhamba Underground Station in Delhi and Providence Stadium in Guyana. In 2010, it built India's tallest building, The Imperial, a residential tower in Mumbai. F.E Dinshaw and Co. also had a 12.5% stake in Tata Sons, which came to Shapoorji Pallonji.
In 2001-02 Shapoorji Pallonji took over Forbes Gokak (now Forbes and Company) from the Tata group after winning a takeover battle with the Pawankumar Sanwarmal Group. The company was already listed on the BSE when it was taken over and remains the group's only listed entity as of 2011.
- Shapoorji Pallonji Construction
- Forbes and Company
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