Cyrus Mistry's elder son Firoz jons Afcons board

New Delhi, Sep 25 (PTI) Firoz Cyrus Mistry, son of late Tata Group chairperson Cyrus P Mistry, has joined the board of Afcons Infrastructure in a move signalling deeper involvement of the next generation of the Shapoorji Pallonji family in the group's flagship infrastructure and construction business.

Firoz, 29, has been appointed as a non-executive director, Afcons Infrastructure said in a statement.

Alongside, veteran banker Santosh Balachandran Nayar has been appointed as an independent director on the Afcons board.

Firoz is the eldest of the two sons of Cyrus Mistry, the youngest scion of the Shapoorji Pallonji Group, who died in a fatal car accident on September 4, 2022. He and Zahan, 27, inherited a portion of the family's 18.4 per cent stake in Tata Sons - the holding company of salt-to-software conglomerate.

While Firoz Mistry studied at the University of Warwick, Zahan Mistry is an alumnus of Yale University.

The 160-year-old construction giant Shapoorji Pallonji Group was founded by Pallonji Mistry in 1865 as Littlewood Pallonji & Co. His son Shapoorji dropped out of school to work in the family business and went on to acquire a minority stake in Tata Sons.

Third-generation heir, Pallonji, named after his grandfather, in 2012, split the ownership of his empire, which spanned real estate to consumer goods, as well as the stake in Tata Sons, equally between his two sons - Shapoor and Cyrus.

Shapoor took over as the chairman of the group, while Cyrus was made the chairman of Tata Sons.

Four years later, Cyrus was removed as chairman of Tata Sons after a fallout with Ratan Tata.

Pallon Mistry, 32, son of Shapoor Pallonji Mistry, who was previously inducted on the board of the group holding company, had last month joined the board of Afcons. His sister Tanya handles corporate social responsibility activities of the SP Group.

Afcons executive chairman Krishnamurthy Subramanian said, "We are delighted to welcome Firoz Mistry and Santosh Nayar to our Board. Their entry marks their passionate involvement in shaping Afcons' future".

Subramanian further said Firoz and Pallon have been engaged with the company for a long time in their individual capacities.

"They will bring fresh perspectives and insights to the Board through their diverse experiences, their international exposure and unique understanding of infrastructure business," he said, adding that the active participation of young members of the Mistry family, along with seasoned professionals, will propel Afcons towards a renewed growth trajectory.

According to the statement, Mistry is on the boards of SC Finance and Investments Pvt Ltd and Cyrus Investments Pvt Ltd, and is a designated partner in CPM Nexgen Ventures LLP and Mistry Ventures LLP.

The statement said that at 29, Mistry brings a next-generation leadership perspective, combining fresh insights with a forward-looking strategic mindset while remaining grounded in the Shapoorji Pallonji Group’s values of trust and collaboration.

He brings a strong educational foundation with his liberal arts education from Yale University, which has provided him with critical thinking skills, analytical capabilities, and a broad interdisciplinary perspective valuable for business decision-making, it added.

His expertise spans strategic formulation and the development of governance frameworks, strengthening board processes, compliance, and risk oversight.

He has also gained experience in building relationships with business partners and collaborators, ensuring alignment across diverse interests while deepening his involvement in operational management, business development, investment evaluation, and portfolio advisory.

According to the statement, Nayar has over four decades of experience in project finance, banking, and insurance.

He has held several senior leadership positions, including Deputy Managing Director & Group Executive (Corporate Banking) at the State Bank of India, Managing Director & Chief Executive Officer at IFCI Limited, and Chairman & Managing Director at India Infrastructure Finance Company Limited.

He currently serves as an independent director on the boards of several companies in the power, finance, and infrastructure sectors.

Afcons Infrastructure Ltd is a flagship engineering and construction company of the Shapoorji Pallonji Group. PTI BKS ANZ ANZ BAL BAL