"After 25 years, including 13 years as its chairman, to pave the way for smooth and seamless transition of leadership at Afcons Infrastructure and reaffirm that (the company) continues to be professionally managed, I hereby tender my resignation… with effect from August 28, 2025,” read Shapoor Mistry’s resignation letter, indicating a succession plan in the 160-year-old Shapoorji Pallonji Mistry Group. Mistry, 61, is now chairman emeritus of Afcons Infrastructure, deemed the Group’s "crown jewel.” He remains chairman of the Group, which he jointly owns with his nephews Firoz, 27, and Zahan, 25, sons of his late brother Cyrus. Shapoor has been mentoring them since Cyrus’s demise in a car accident in 2022.
Clockwise, from top l: Shapoor, Pallon,
Zahan and Firoz Mistry;
below: Cyrus Mistry
Drawing in the fifth generation, Shapoor inducted his son Pallon, 33, on the Afcons board soon after he resigned as chairman; a month later, Firoz was included on the board as well. "Shapoor wants them to be more involved in group operations strategically,” reported The Economic Times on September 10. "Operational responsibilities are being handed over to professionals, while the promoter family focuses on high-level decision-making… Pallon, Zahan and Firoz are meeting customers, stakeholders and also the government and have set up an internal transformation taskforce to make the group future ready,” the newspaper added. Sherene Vakil