On his appointment as Deputy Chairman of Tata Sons, Cyrus P. Mistry thanked the selection committee and the Board and said:“I feel deeply honoured by this appointment. I am aware that an enormous responsibility, with a great legacy, has been entrusted to me. I look forward to Tata’s guidance in the year ahead in meeting the expectations of the Group.I take this responsibility very seriously and in keeping with the values and ethics of the Tata Group I will undertake to legally dissociate myself from the management of my family businesses to avoid any issue of conflict of interest”.
Cyrus P Mistry, 43 , joined the board of Shapoorji Pallonji & Co. Ltd as Director in 1991 and was appointed the Managing Director, Shapoorji Pallonji Group in 1994. He is a graduate of Civil Engineering from Imperial College, UK (1990) and has a M.Sc. in Management from London Business School (1997).
Under Cyrus’ guidance, Shapoorji Pallonji’s construction business has grown from a turnover of USD 20 million to approximately USD 1.5 bn. The companies have evolved from pure construction to now executing projects under design & build and EPC delivery methodologies, implementing complex projects in the marine, oil and gas, rail sectors. Under Cyrus’ stewardship, the companies registered many firsts in India – construction of the tallest residential towers, the longest rail bridge, the largest dry dock and the largest affordable housing project. The group’s international construction business is now present in over 10 countries.
Cyrus was responsible for building the infrastructure development vertical in the Shapoorji Pallonji Group starting in 1995 with a 106 MW power project in Tamil Nadu followed by the development of the India’s largest biotech park near Hyderabad in partnership with the Andhra Pradesh government. The Infrastructure vertical has also developed two large road projects totaling an investment of USD 550 mn.
Shapoorji Pallonji Group’s recent foray into agriculture & bio fuels, with the leasing of 50,000 hectares in Ethiopia, was overseen by Cyrus P. Mistry.
Cyrus joined the Board of Tata Sons in 2006. He has been a Director of Tata Power and Tata Elxsi in the past.
He is also on the Board of the Construction Federation of India, Imperial College Advisory Board, on the Board of Governors of NICMAR, and is a Fellow of the Institute of Civil Engineers.