As confirmed by official sources on Tuesday, Pallonji Shapoorji Mistry, the billionaire realtor and industrialist, and Chairman Emeritus of the venerable Shapoorji Pallonji Group passed away at his home in Mumbai late last night.
The official said that Mistry died in his sleep late on Monday night due to natural causes.
Pallonji Mistry, the 93-year-old industrialist, was the largest individual shareholder in the Tata Group with an 18.4 percent holding in the conglomerate.
He was 93 and is survived by his sons Shapoorji and Cyrus P. Mistry -- latter of who was in the limelight for the huge corporate tussle with the Tata Group a few years ago, and two daughters, Laila and Aloo -- the latter wedded to Noel Tata, half-brother of Ratan Tata.
The Shapoorji Pallonji Group is renowned in the realty and engineering sectors and constructed several landmark buildings like the RBI headquarters, SBI, HSBC, Grindlay Bank, Hongkong & Shanghai Bank, and others in the south Mumbai, besides other major infrastructure projects.
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The Group had also produced the iconic Hindi film, K. Asif’s ‘Mughal-E-Azam’ (1960), then the most expensive one and to date, it reigns among the top popular movies of Bollywood.
The Shapoorji Pallonji Group, which is 156 years old, has a widely spread construction and real estate business, which is established in parts of India, Africa, the Middle East, and South Asia. Some of the most iconic landmarks in Mumbai have been constructed by the Pallonji group.
No comments by the family of Pallonji Mistry or information regarding his last rites have been released yet.
(With inputs from PTI, IANS)
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