The Shapoorji Pallonji (SP) Group will sell approximately 30% of its holdings in its solar engineering arm of Sterling and Wilson (SW) to reduce the Group’s corporate debt. Executive director Jay Mavani was quoted in a report in The Times of India (ToI) dated 
November 21, 2018. The sale is expected to fetch the 153-year-old conglomerate USD one billion (over INR 7,000 crores). A public offering is on the cards. A separate listing of Eureka Forbes (EF), the water purification unit of Forbes and Company will also be considered, as also sales of commercial real estate, Mavani said."We want to create equity for ourselves… Be it Sterling and Wilson or EF,” (their) real value is several times more than what is reflected in the balance sheet, he stated. Group companies have raised at least USD 4.3 bn (INR 30,000 crores) since the beginning of 2014, noted ToI.
Khurshed Daruvala, chairman of SW told The Economic Times on November 20 that SW will generate INR 9,500 crores (USD 1.3 bn) of revenue for the year ended March 2019. "The business is now building its presence in the US and Australia, where the market potential may be about $10 billion for solar contracts,” he stated.