NEW DELHI: A day after the tragic death of former Tata Sons chairman Cyrus Mistry, his family construction company, the Shapoorji Pallonji Group (SPG), on Monday said his entrepreneurial mindset helped them (SPG) to achieve many milestones over the past two decades, including one of India’s first integrated, project-financed power plants, and the development of India’s first biotechnology park.
“With his vision and eye for detail, he was instrumental in steering the Group from a pure contractor to a ‘value-added’ player, by developing competencies in allied areas such as EPC and ‘Design & Build’.
He also envisioned and oversaw the evolution of the Group into an end-to-end business group, spanning design & engineering, construction, and asset development,” said the Mumbai-based Group in a statement.
Mistry, 54, died in a road accident near Mumbai on Sunday. He is survived by his wife Rohiqa, sons Firoz and Zahan, mother Patsy Mistry, sisters Laila Rustom Jehangir and Aloo Noel Tata, and brother Shapoor Mistry. Mistry joined the family business in March 1991 as a Director, overseeing the Group’s construction business.
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In recent years, he was playing a key role in reducing the debt level of the Group and was quite successful in it. Touching the personal façade of his life, his family said CPM, as he was fondly known, was a voracious reader and committed to a journey of lifelong learning across disciplines. Despite his success, he always kept a low profile, away from the limelight.
“Mistry deeply valued righteousness and honesty. He was known for his transparency and integrity in all his business dealings. He was humble, approachable to all, and always lent a helping hand to the less fortunate,” his family added.