Piramal Group

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Piramal Group
Founded1984; 38 years ago (1984)
HeadquartersMumbai, Maharashtra, India
Area served
Key people
Ajay Piramal (Chairperson, Managing Director & Chief Executive Officer)
RevenueIncrease14,710 crore (US$1.8 billion)(FY22)
Decrease6,500 crore (US$810 million)(FY22)
Increase1,923.11 crore (US$240 million)(FY22)
OwnerAjay Piramal (100%)

The Piramal Group is an Indian multinational conglomerate, that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services and real estate.


In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited, a manufacturer of glass packaging for pharmaceutical and cosmetic products, followed by Ceylon Glass in 1999.[citation needed]

In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the pharmaceutical industry. Over the decade, the company acquired many business units to strengthen their presence.

In 2006, the company bought Pfizer’s UK manufacturing facility in Morpeth.[1][2] The company also formed the Piramal Foundation, a philanthropic arm of the group.

In 1999 Piramal Glass acquired Ceylon Company Limited, Sri Lanka.[3]

Chairman: Ajay Piramal

In 2007, it underwent a deal with Merck Pharmaceuticals for development and discovery of new drugs.[4][5] In 2008, it signed a second drug development deal with Eli Lilly and Company.[6][7] The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd. In 2010, the domestic formulations business was sold to Abbott.[8] It was considered to the "most expensive pharma deal ever" by Forbes India.[9] In the same year, the group formed its own real estate entity, Piramal Realty.[10]

Vice Chairman: Dr. Swati Piramal

2011 saw Fortune 500 ranking Piramal Healthcare in the top-50 largest corporations across India. Also, UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar.[11] In 2014, it sold its 11% Stake in Vodafone India to Prime Metals, an indirect subsidiary of Vodafone Group.[12] In 2012, Piramal Healthcare was renamed to Piramal Enterprises Ltd. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company.

Piramal Enterprises acquired the brand Caladryl in India. Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in the skin care segment.[13]

Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of florbetaben F18.[14]

European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F).[15]

In December 2020, the group announced that Piramal Glass was to sell its entire stake of 536,331,880 shares (56.45%) in Piramal Glass Ceylon for 5.16 billion.[16]

Group companies[edit]

The Piramal Group comprises 3 key companies: Piramal Enterprises Ltd, Piramal Pharma Ltd and Piramal Realty.

Piramal Enterprises[edit]

Piramal Enterprises Limited is the flagship company of Piramal Group, and active in financial services. Piramal Enterprises is listed at both Bombay Stock Exchange and National Stock Exchange.[17] Piramal Enterprises is involved in retail lending, housing finance and vehicle financing. In 2021, it acquired the bankrupt Dewan Housing Finance Corporation and merged it with its subsidiary Piramal Capital and Housing Finance Limited.[18]

Piramal Pharma[edit]

Piramal Pharma Limited is active in business verticals including pharmaceuticals, healthcare and life sciences. Its business divisions include Piramal Pharma Solutions, a contract development and manufacturing organization, and Piramal Critical Care Limited, a manufacturer of inhalational anesthetics and other hospital generics. Piramal Pharma was demerged from Piramal Enterprises in 2022.[19]

Fortune 500 ranked Piramal Healthcare in the top-50 largest corporations across India. The UN Conference on Trade and Development’s World Investment Report 2011 ranked the group among the top 5 pharmaceutical contract manufacturers in the world.[20] In 2012, Piramal Healthcare acquired Decision Resources Group, which operates Manhattan Research, a market research company that covers the physician market.[21]

Piramal Realty[edit]

Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads, at South Mumbai.[22]

Piramal Foundation[edit]

The Piramal Foundation is a private philanthropic foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya[23] (a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal [24] (provides clean water in India through solar powered water ATMs), source for change [25] (rural BPO for rural youth in Bagar, Rajasthan), Pratham [26] (delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize [27] (recognizes emerging ventures and established organizations).

See also[edit]


  1. ^ "Nicholas Piramal to buy Pfizer's Morpeth, UK facility". Business Standard. 15 June 2006.
  2. ^ "Nicholas Piramal to buy Pfizer's UK unit". The Times of India. 15 June 2006. Archived from the original on 4 September 2013.
  3. ^ "Piramal – The leader in the manufacture of pharmaceuticals and glass containers". Retrieved 12 October 2020.
  4. ^ "Nicholas Piramal, Merck in new drug discovery JV". Economic Times. 19 November 2007.
  5. ^ "Nicholas Piramal, Merck enter R&D collaboration". Indian Express. 19 November 2007.
  6. ^ "Nicholas Piramal arm signs 2nd drug development deal with Eli Lilly". Economic Times. 15 February 2008.
  7. ^ "Nicholas Piramal, Eli Lilly in drug development deal". Financial Express. 13 January 2007.
  8. ^ "Abbott acquires Piramal's healthcare unit". Economic Times. 21 May 2010.
  9. ^ "The most Expensive Pharma Deal ever". Forbes India. 7 June 2010.
  10. ^ https://www.piramalrealty.com/ Piramal Realty
  11. ^ "Piramal hikes stake to 11% in Vodafone India unit". The Financial Express. 5 February 2012.
  12. ^ "Piramal Group to sell Vodafone India stake for Rs. 8900 crore". IANS. news.biharprabha.com. Retrieved 10 April 2014.
  13. ^ "Piramal Enterprises acquires brand Caladryl in India". Times Of India. 1 November 2013.
  14. ^ "Piramal Imaging enters into a strategic partnership with Ci-Co Healthcare". Express Healthcare. 10 December 2013.
  15. ^ "CHMP recommends EU approval of Piramal Imaging's NeuraCeq". IIFL. 21 December 2013.
  16. ^ "Piramal Glass Pvt Ltd to sell its entire stake in Piramal Glass Ceylon for INR 5.16 billion". bizenglish.adaderana.lk. 11 December 2020. Retrieved 11 December 2020.
  17. ^ "Piramal Enterprises Yearly Results, Financial summary, Piramal Enterprises Yearly Earnings – The Economic Times". economictimes.indiatimes.com. Retrieved 28 June 2019.
  18. ^ "Piramal pays lenders for DHFL acquisition". The Hindu Business Line. Retrieved 6 September 2022.
  19. ^ Narayanan, K. S. Badri (30 August 2022). "Piramal NBFC arm lists after demerger". www.thehindubusinessline.com. Retrieved 6 September 2022.
  20. ^ "Piramal, Jubilant among global top 10". Financial Express. 27 July 2011.
  21. ^ Ltd, Piramal Healthcare. "Piramal Healthcare Limited to Acquire Decision Resources Group". www.prnewswire.com. Retrieved 30 April 2019.
  22. ^ "Piramal Realty a company of Piramal Group, Introduces Welltech Homes in Byculla Mumbai". Rashtranews.com. 17 February 2022. Retrieved 18 February 2022.
  23. ^ "Piramal Foundation's project to provide telemedicine solution in Maharashtra". The Times of India. 15 March 2013. Archived from the original on 2 December 2013.
  24. ^ "Let's drink to that". Business Today. 19 August 2012.
  25. ^ "Source For Change: India's 1st All Women Rural BPO". The Better India. 13 September 2010.
  26. ^ "Citi, Pratham Foundation to build job skills in youth". Business Line. 21 September 2012.
  27. ^ "Piramal Prize — Help Democratize Healthcare". Think Change India. 25 February 2008.

External links[edit]