Firoz Cyrus Mistry, Santosh Nayar join Afcons Board

New Delhi, Sep 25 (PTI) Afcons Infrastructure on Thursday announced that it has inducted Firoz Cyrus Mistry and veteran banker Santosh Balachandran Nayar to its board, signalling next-generation family involvement in the flagship company of the Shapoorji Pallonji Group.

Afcons Infrastructure, in a statement, said that while Mistry has been appointed as a non-executive director, Nayar has joined the board as an independent director.

This comes close on the heels of Pallon S Mistry, another next-generation member of the Shapoorji Pallonji family, joining the Afcons board last month.

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, USA, 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 BKS BAL BAL