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The Shapoorji Pallonji Group has four listed companies. Afcons Infrastructure is the largest at approximately Rs 10,486 crore, and Gokak Textiles the smallest at approximately Rs 45 crore.
- Afcons Infrastructure Ltd — Infrastructure and Engineering — approx. Rs 10,486 crore, listed on BSE and NSE on 4 November 2024
- Sterling and Wilson Renewable Energy Ltd — Solar EPC — approx. Rs 5,481 crore
- Forbes & Company Ltd — Diversified engineering and realty — approx. Rs 399 crore
- Gokak Textiles Ltd — Textiles — approx. Rs 45 crore, listed on BSE only
- Group founded in 1865, chaired by Shapoor Mistry since 2012
- Shapoorji Pallonji & Company holds 73.85% of Forbes & Company and 6.95% of Sterling and Wilson
Note: Market capitalisations are indicative and change with market conditions. The securities quoted are for example purposes only and not a recommendation.
Which Shapoorji Pallonji companies are listed on the stock market?
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| Stock Name | Sector | SP Relationship | Market Cap (approx.) |
|---|---|---|---|
| Afcons Infrastructure Ltd | Infrastructure and Engineering | Flagship company; listed November 2024 | Rs 10,486 crore |
| Sterling and Wilson Renewable Energy Ltd | Renewable Energy (solar EPC) | SP holds 6.95%; Reliance New Energy is co-promoter | Rs 5,481 crore |
| Forbes & Company Ltd | Diversified (engineering, realty) | SP Group holds 73.85% | Rs 399 crore |
| Gokak Textiles Ltd | Textiles | SP Group company; BSE-listed only | Rs 45 crore |
Note: Market capitalisations are indicative and change with market conditions. The securities quoted are not a recommendation.
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Which companies has the group exited?
Two names that once appeared on lists of Shapoorji Pallonji stocks are no longer group companies.
- Eureka Forbes Ltd — the group sold its controlling stake to Advent International and completed its exit in July 2022, after Eureka Forbes was demerged from Forbes & Company and separately listed. It remains a listed company, but not a Shapoorji Pallonji one.
- PNP Port and Gopalpur Port — controlling interests sold as part of the group's debt-reduction programme.
The group listed Sterling & Wilson Solar in 2019 and has since reduced its holding in that company as well.
What is the history of the Shapoorji Pallonji Group?
The Shapoorji Pallonji Group was founded in 1865 as Littlewood Pallonji, making it one of India's oldest business houses. Its first projects included a pavement at Girgaum Chowpatty and a reservoir on Malabar Hill that supplied water to Mumbai for over a century.
An earlier generation of the family built several landmarks in Mumbai's Fort area, including the Reserve Bank of India, State Bank of India, and Standard Chartered Bank buildings. The group later expanded internationally, with projects including the Al Alam Palace in Oman, Ebene Cyber City in Mauritius, and Jumeirah Lake Towers in Dubai.
In the 1930s the group acquired F.E. Dinshaw and Co., gaining a 12.5% stake in Tata Sons, which rose to 18.37% after a 1996 rights issue. It acquired Forbes & Company in 2001.
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Which sectors does the Shapoorji Pallonji Group operate in?
| Sector | Group Company | What It Does |
|---|---|---|
| Infrastructure and Engineering | Afcons Infrastructure Ltd | Marine, industrial, urban and transport EPC projects |
| Renewable Energy | Sterling and Wilson Renewable Energy Ltd | Solar EPC solutions |
| Diversified / Engineering | Forbes & Company Ltd | Industrial automation, coding, real estate development |
| Textiles | Gokak Textiles Ltd | Cotton and blended yarn, industrial fabrics, terry towels |
| Real Estate | Shapoorji Pallonji Real Estate (unlisted) | Residential and commercial development |
Afcons has completed projects across 22 countries, including the Chenab Railway Bridge and the Atal Tunnel. The securities quoted are for example purposes only and not a recommendation.
Who leads the Shapoorji Pallonji Group?
| Name | Role | Note |
|---|---|---|
| Shapoor Mistry | Chairman since 2012 | Took over on his father's retirement |
| Pallonji Mistry (1929–2022) | Former Chairman | Grandson of the 1865 founder; known as the 'Phantom of Bombay House' |
| Cyrus Mistry (1968–2022) | Former Chairman, Tata Sons | Son of Pallonji Mistry |
| Pallon S. Mistry | President, Corporate Affairs | — |
The group is owned by Shapoor Mistry (50%) and Cyrus Mistry's sons Firoz and Zahan (25% each).
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Conclusion
The Shapoorji Pallonji Group has four listed stocks across infrastructure, solar EPC, diversified engineering, and textiles, with indicative market capitalisations ranging from approximately Rs 45 crore to Rs 10,486 crore.
Group companies have reported mixed results. Sterling and Wilson emerged from a working-capital crisis in 2022–23, Forbes & Company reported a consolidated net loss in Q4 FY26, and Gokak Textiles has been loss-making.
Conduct your own research and consult a financial adviser before making any investment decision.
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Shapoorji Pallonji Group Stocks
Which Shapoorji Pallonji Group stocks are listed on the stock exchanges?
Is Eureka Forbes still a Shapoorji Pallonji Group company?
No. Advent International acquired the group's controlling stake, and Shapoorji Pallonji completed its exit in July 2022 by selling its remaining 8.7% holding. Eureka Forbes had earlier been demerged from Forbes & Company and separately listed on the BSE. It remains a listed company, but it is no longer part of the Shapoorji Pallonji Group.
Which is the largest Shapoorji Pallonji Group stock?
Afcons Infrastructure Ltd is the largest, with a market capitalisation of approximately Rs 10,486 crore as of 2 September 2026. It is the group's flagship infrastructure and construction company, incorporated in 1959. Sterling and Wilson Renewable Energy follows at approximately Rs 5,481 crore.
How much of these companies does Shapoorji Pallonji actually own?
Shareholding varies widely. Shapoorji Pallonji and Company holds 72.56% of Forbes & Company, with the promoter group at 73.85% as of March 2026. In Sterling and Wilson Renewable Energy, the group's holding stands at 6.95% after a 2024 stake sale, with Reliance New Energy Solar holding 25.16% as co-promoter.
How old is the Shapoorji Pallonji Group and who runs it?
The group was founded in 1865 as Littlewood Pallonji. Shapoor Mistry has been chairman since 2012, when his father Pallonji Mistry retired. Pallonji Mistry, a grandson of the founder and known as the 'Phantom of Bombay House', died in June 2022. His son Cyrus Mistry, former chairman of Tata Sons, died in September 2022.
What is the group's stake in Tata Sons?
The Shapoorji Pallonji Group is the largest minority shareholder in Tata Sons with an 18.37% stake, acquired through its 1930s purchase of F.E. Dinshaw and Co. and increased via a 1996 rights issue.
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