Business Tycoon Pallonji Mistry Passes Away At 93

New Delhi: Shapoorji Pallonji group chairman and billionaire industrialist Pallonji Mistry passed away at the age of 93 in Mumbai on Monday night.

As per reports, he passed away at his south Mumbai residence while he was sleeping.

Pallonji, who was the chairman of Shapoorji Pallonji Group, one of the largest companies in the construction sector, and also called India's most anonymous billionaire. Actually, he used to keep his distance from public forums and he also had great respect in the industry.

Taking to the micro-blogging site Twitter, Prime Minister Narendra Modi, said, ''Saddened by the passing away of Shri Pallonji Mistry. He made monumental contributions to the world of commerce and industry. My condolences to his family, friends, and countless well-wishers. May his soul rest in peace.''

Construction sector veteran Pallonji had married an Irish woman and after that, he became a citizen of Ireland. However, even after this, he lived in India for most of the time in a seaside bungalow in Mumbai.

In 2016, the Government of India honored Pallonji with the Padma Bhushan, one of the top civilian awards for his contribution to the business world.

One of the oldest businessmen in India, Pallonji was born in Gujarat in a Parsi family. Pallonji was also called the richest Parsi man. Since he also had Irish citizenship, he was the richest man in Ireland.

Shaporji Pallonji Group is a company that is more than 150 years old. According to the latest figures from Forbes, Pallonji's net worth was around $13 billion and he was ranked 125th worldwide on the list of billionaires.

Shaporji Pallonji Group was established in the year 1865. Mainly in the construction sector, this company also has a presence in the sectors of engineering, infrastructure, real estate, water, energy, and financial services. Presently, the business of this group is spread not only in India but in 50 countries.

Also read: Mumbai: One Dead, Several Others Trapped Under Debris In Building Collapse

Also watch: