2001:8F8:1B69:BCDC:580D:AE0F:758D:9F6 at 08:30, 2 July 2021

2021-07-02T08:30:43Z

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{{short description|Indian conglomerate}}
{{Use dmy dates|date=September 2020}}
{{Use Indian English|date=December 2018}}
{{Infobox company
| name = Shapoorji Pallonji & Company Private Limited
| logo = Shapoorji_Pallonji_Group_logo.svg
| logo_size = 250px
| type = [[Privately held company|Private]]
| founded = {{Start date and age|1865}}
| founder = Pallonji Mistry 
| key_people = {{ubl
|[[Pallonji Mistry|Pallonji Shapoorji Mistry]]
|Shapoor Pallonji Mistry {{small|(Chairman)}}
|Pallon S. Mistry <br/> {{small|(President, Corporate Affairs)}}
}}
| industry = [[Conglomerate (company)|Conglomerate]]
| products =
| services = {{ubl|
[[Engineering]]
|[[Construction]]
|[[Infrastructure]]
|[[Energy]]
|[[Water]]
|[[Financial services]]
|[[Hospitality]]
||[[Real estate]]
|[[Electronic publishing]]
}}
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| owner = [[Pallonji Mistry|Pallonji Shapoorji Mistry]] (100%)
| num_employees =
| subsid = {{ubl
|SP Engineering & Construction
|Forbes & Co.
|[[Eureka Forbes]]
|SP Infrastructure
|SP Investment Advisors
|SP Oil & Gas
|SP Real Estate
|[[Afcons Infrastructure]]
|Forvol International Services
|Sterling & Wilson
|SD Corporation
|Oman Shapoorji Co
|NextGen Publishing
}}
| location_city = [[Mumbai]]
| location_country = [[India]]
| homepage = {{URL|http://www.shapoorjipallonji.com/|shapoorjipallonji.com}}
}}
'''Shapoorji Pallonji & Company Private Limited''' trading as '''Shapoorji Pallonji Group'''<ref>{{Cite web|title=About Us - Shapoorji Pallonji Group|url=https://www.shapoorjipallonji.com/about/|access-date=2020-11-03|website=www.shapoorjipallonji.com}}</ref> is an Indian [[Conglomerate (company)|conglomerate]] company, headquartered in [[Mumbai]], India. It operates in [[construction]], [[real estate]], [[textiles]], [[Engineering|engineered good]]s, [[home appliances]], [[shipping]], [[publications]], [[Electric power|power]], and [[biotechnology]].<ref name="jatropharef">{{Cite web |title= Jetropha Mission in Uttar Pradesh |url= http://jetropha.up.nic.in/corporate_support/corp_body.htm |access-date=17 March 2012}}</ref> The company was headed by a grandson of founder Pallonji Mistry, also named [[Pallonji Mistry]], until 2012, when he announced his retirement and the succession of his son, Shapoor Mistry.<ref name=pallonjiretires>{{cite news |title= Pallonji set to quit after six decades |url= http://timesofindia.indiatimes.com/business/india-business/Pallonji-set-to-quit-after-six-decades/articleshow/12205426.cms |first=Reeba |last= Zachariah |agency=[[The Times of India]] |location= Mumbai |date= 10 March 2012 |access-date= 17 March 2012}}</ref><ref>{{cite news |last= Kurien |first=Bobby |title= Shapoor to take charge at Shapoorji Pallonji Group |url= http://articles.economictimes.indiatimes.com/2011-11-25/news/30441115_1_shapoor-and-cyrus-pallonji-mistry-shapoorji-pallonji-group |access-date=22 December 2013 |newspaper= [[The Economic Times]] |date= 25 November 2011}}</ref>

Shapoorji Pallonji is regarded as "''one of India's most valuable private enterprises.''"<ref name=toin11>{{cite news |title=Cyrus Mistry: How he won the race to succeed Ratan Tata?|url=http://timesofindia.indiatimes.com/business/india-business/How-Cyrus-Mistry-won-the-race-to-succeed-Ratan-Tata/articleshow/10849327.cms |access-date= 20 March 2012 |newspaper= [[The Times of India]] |date= 24 November 2011}}</ref> The US$2.5 billion Shapoorji Pallonji Group have two listed companies, [[Forbes & Company Ltd.]]<ref name=ien11>{{cite news|title=Shapoorji Pallonji's Forbes & Co up 9%|url=http://www.indianexpress.com/news/shapoorji-pallonjis-forbes-&-co-up-9/879917/0|access-date=20 March 2012|newspaper=[[Indian Express]]|date=24 November 2011}}</ref> 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 [[Initial public offering|IPO]].<ref name=toi06>{{cite news|title=Shapoorji Pallonji readies IPO for arm|url=http://timesofindia.indiatimes.com/business/india-business/Shapoorji-Pallonji-readies-IPO-for-arm/articleshow/903974.cms|access-date=20 March 2012|newspaper=[[The Times of India]]|date=23 December 2006}}</ref>

The company is known for building some of [[Mumbai]]'s landmarks around the [[Fort (Mumbai precinct)|Fort area]], including the [[The Hongkong and Shanghai Banking Corporation|Hong Kong Bank]], [[Grindlays Bank]], [[Standard Chartered|Standard Chartered Bank]] and [[Reserve Bank of India]] building, [[Bombay Stock Exchange]] building and Taj Intercontinental.<ref name="buildlandmark">{{cite news|title=Pallonji Mistry is Ireland's richest person|url=http://business.rediff.com/report/2010/apr/01/pallonji-mistry-is-richest-person-in-ireland.htm|date=1 April 2010|publisher=[[Rediff.com]]|access-date=17 March 2012}}</ref> Apart from these, the company has built a stone palace for the [[Sultan of Oman|Sultan]] of [[Oman]] in 1971.<ref name=mughal>{{cite news|title=Mughal-e-Azam Of Realty Biz|url=http://timesofindia.indiatimes.com/business/india-business/Mughal-e-Azam-Of-Realty-Biz/articleshow/10851159.cms|access-date=20 March 2012|newspaper=[[The Times of India]]|date=24 November 2011}}</ref><ref name=bw09>{{cite news|title=Phantom Of Bombay House|url=http://businessworldindia.com/bw/2009_07_30_Phantom_Of_Bombay_House.html|access-date=20 March 2012|newspaper=[[Businessworld]]|date=20 June 2009}}</ref> 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.<ref name=taj>{{cite news|title=‘Taj repair costs to be lower than insurance cover’|url=http://www.thehindubusinessline.com/todays-paper/article1644432.ece?ref=archive|access-date=20 March 2012|newspaper=[[The Hindu Business Line]]|date=22 December 2008}}</ref> Other notable projects include [[The Imperial (Mumbai)|The Imperial]] in Mumbai, [[Jumeirah Lake Towers]] in [[Dubai]] and [[Ebene Cyber City]] in [[Mauritius]].<ref name=bw09/>

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]].<ref name="wbengal">{{cite news| url=http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/construction/shapoorji-pallonji-plans-to-invest-in-west-bengal/articleshow/15314477.cms |title= Shapoorji Pallonji plans to invest in West Bengal| date= 1 August 2012}}</ref>
In
January 2016, Shapoorji Pallonji Group launched its first affordable housing brand, [[Joyville Homes]].<ref name="Joyville Brand Launch">{{cite news| url=http://www.constructionworld.in/News.aspx?nId=PAzULdgMehXRsq3BQxXDOQ==&NewsType=Shapoorji-Pallonji-Group-launches-its-first-affordable-housing-brand--Joyville |date=2 February 2016|title= Shapoorji Pallonji Group launches its first affordable housing brand- Joyville|access-date=9 February 2016}}</ref>

== History ==
The company was founded as a partnership firm ''Littlewood Pallonji'', in 1865.<ref name="phantom">{{cite news|title=The Phantom Player|url=http://business.outlookindia.com/article.aspx?270234|first=Kandula|last=Subramaniam|date=22 January 2011|agency=[[Outlook (Indian magazine)|Outlook]]|access-date=17 March 2012|url-status=dead|archive-url=https://web.archive.org/web/20110309151551/http://business.outlookindia.com/article.aspx?270234|archive-date=9 March 2011}}</ref><ref name=sp1865>{{cite web|title=A Legacy of Landmarks, Since 1865|url=http://www.sp-group.co.in/groupcompanies/index.php?cid=1|publisher=sp-group.co.in|access-date=21 March 2012}}</ref><ref>{{cite news|last=Kamath|first=Raghavendra|title=Cyrus steered Shapoorji's fast-track growth|url=http://www.sify.com/finance/cyrus-steered-shapoorji-s-fast-track-growth-news-equity-llyccDgjgjb.html|archive-url=https://web.archive.org/web/20111124065933/http://www.sify.com/finance/Cyrus-steered-Shapoorji-s-fast-track-growth-news-Equity-llyccDgjgjb.html|url-status=dead|archive-date=24 November 2011|access-date=22 December 2013|newspaper=[[Business Standard]]|date=24 November 2011}}</ref> The first project was the construction of a pavement on the [[Girgaum Chowpatty]],<ref name="cyruslegacy">{{cite news|url=http://articles.economictimes.indiatimes.com/2011-11-25/news/30441106_1_pallonji-mistry-spcl-cyrus-mistry|title=Cyrus Mistry's entrepreneurial legacy|author=Nauzer K Bharucha|date=25 November 2011|newspaper=[[The Economic Times]]|access-date=19 March 2012}}</ref> 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, Delhi|Jawaharlal Nehru stadium]] in [[Delhi]].<ref name="phantom" /> The [[Mumbai Central]] Railway station, was also built by them at a cost of {{INR}}1.6 [[crore]]. The company was commended by the then [[Governor of Bombay]] for completing the work within 21 months.<ref name="cyruslegacy" /> In recent years, it has built the [[Barakhamba Road (Delhi Metro)|Barakhamba Underground Station]] in Delhi and [[Providence Stadium]] in [[Guyana]].<ref name=toi06/><ref name=bw09/> In 2010, it built India's tallest building, [[The Imperial (Mumbai)|The Imperial]], a residential tower in Mumbai.<ref name=pallonjiretires/>

The Shapoorji Pallonji has also had a brief involvement with [[Bollywood]]. Released in 1960, [[K. Asif]]'s magnum opus, and one of the most popular and critically acclaimed Bollywood film of all time, ''[[Mughal-e-Azam]]'', was funded by the group with a budget of {{INR}} 1.5 crore, which made it the most expensive Bollywood film till then and a record it held for many years. More than four decades later, the group funded a digital remastering of the film at a budget of {{INR}}5 crore, which was released on 12 November 2004. Shapoor Mistry, grandson of Shapoorji Pallonji Mistry, thought it a fitting tribute to complete his grandfather's unfinished dream of colourising the film, especially as the original was produced by his grandfather.<ref name=mughal/> In 2016, Shapoorji Pallonji Group, in association with the [[National Centre for the Performing Arts (India)]], co-produced ''[[Mughal-e-Azam (musical)|Mughal-e-Azam]]'', a [[Broadway theatre|Broadway]]-style [[Musical theatre|musical]] directed by [[Feroz Abbas Khan]], and based on the 1960 Bollywood film ''Mughal-e-Azam''<ref>{{Cite news|url=https://www.livemint.com/Leisure/6Utc4pumyKSv7G0Mh9hZQO/MughaleAzam-now-a-stage-musical.html|title=Mughal-e-Azam, now a stage musical|last=Phukan|first=Vikram|date=24 October 2016|work=Live Mint| access-date=22 May 2018}}</ref>

== Acquisitions ==
In 1936, Shapoorji Pallonji bought ''F.E. Dinshaw and Co.'' after the death of its promoter. F.E. Dinshaw and Co was an established finance firm that had high-profile dealings such as arranging a loan from the [[Maharaja of Gwalior]] for [[Tata Steel]] (then ''TISCO'') in 1924 and merging local cement companies to form [[ACC Limited|ACC Cement]] in 1936.<ref name=mc02>{{cite book|last=Markovits|first=Claude|title=Indian Business and Nationalist Politics 1931-39: The Indigenous Capitalist Class and the Rise of the Congress Party|year=2002|publisher=Cambridge University Press|isbn=0521016827|pages=208}}</ref> F.E Dinshaw and Co. also had a 12.5% stake in [[Tata Group|Tata Sons]], which came to Shapoorji Pallonji.<ref name=mughal/>

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''.<ref name=toi02>{{cite news|title=Sanwarmal exits Forbes, sells to Shapoorji|url=http://articles.timesofindia.indiatimes.com/2002-01-24/india-business/27133787_1_pallonji-forbes-gokak-pawankumar-group|archive-url=https://archive.today/20130103110504/http://articles.timesofindia.indiatimes.com/2002-01-24/india-business/27133787_1_pallonji-forbes-gokak-pawankumar-group|url-status=dead|archive-date=3 January 2013|access-date=20 March 2012|newspaper=[[The Times of India]]|date=24 January 2002}}</ref> The company was already listed on the [[BSE SENSEX|BSE]] when it was taken over and remains the group's only listed entity as of 2011.<ref name=toi06/>

In 2012, Shapoorji Pallonji was planning to build a [[deepwater port]] in [[Gujarat]].<ref>{{Cite web|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/shapoorji-pallonji-plans-deepwater-port-in-gujarat/articleshow/16979306.cms|title=Shapoorji Pallonji plans deepwater port in Gujarat|via=The Economic Times}}</ref>

== See also ==
* [[Tata Group]]
* [[Afcons Infrastructure]]

== References ==
{{Reflist}}

== External links ==
* [https://www.shapoorjipallonji.com/ Official website]

[[Category:Companies based in Mumbai]]
[[Category:Indian companies established in 1865]]
[[Category:Companies based in Bangalore]]
[[Category:Shapoorji Pallonji Group]]
[[Category:Conglomerate companies established in 1865]]

Shapoorji Pallonji Group - Revision history

2001:8F8:1B69:BCDC:580D:AE0F:758D:9F6 at 08:30, 2 July 2021