Cyrus Mistry's son Firoz joins Afcons Infrastructure Board, Santosh Nayar named independent director

Firoz Cyrus Mistry, the son of the late Tata Group chairperson Cyrus P Mistry, has become a member of the Afcons Infrastructure board, indicating a growing engagement of the next generation of the Shapoorji Pallonji family in the group's infrastructure and construction operations.

Afcons Infrastructure is the flagship engineering and construction company of the Shapoorji Pallonji Group.

Firoz, 29, has been appointed as a non-executive director, the company informed in an filing. Additionally, veteran banker Santosh Balachandran Nayar has been appointed as an independent director on the Afcons board.

According to the filing, 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.

Who is Firoz Mistry?

Firoz is the eldest son of Cyrus Mistry, the youngest heir of the Shapoorji Pallonji Group, who died in a fatal car accident on September 4, 2022. His sons inherited a share of the family's 18.4 per cent stake in Tata Sons. Firoz studied at Yale University.

The filing said his liberal arts education from Yale University has provided him with critical thinking skills, analytical capabilities, and a broad interdisciplinary perspective valuable for business decision-making.

It added that at 29, Mistry offers a next-generation leadership outlook, blending new insights with a forward-thinking strategic approach while staying true to the Shapoorji Pallonji Group’s values of trust and collaboration.

About Santosh Balachandran Nayar

Santosh Balachandran Nayar has over four decades of experience in project finance, banking, and insurance, the company said.

He has held several senior leadership roles, such as Deputy Managing Director and Group Executive (Corporate Banking) at the State Bank of India, Managing Director and CEO at IFCI Limited, and Chairman and Managing Director at India Infrastructure Finance Company Limited.

Nayar currently serves as an independent director on the boards of several companies in the power, finance, and infrastructure sectors.

Last month, Pallon Mistry, 32, son of Shapoor Pallonji Mistry, who was previously inducted on the board of the group holding company joined the board of Afcons.

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 added that Firoz and Pallon have had long-standing involvement with the company in their personal capacities.

He mentioned that their diverse experiences, international exposure, and unique understanding of the infrastructure business will offer new perspectives and insights to the Board. He also noted that the active involvement of young Mistry family members, alongside seasoned professionals, will help drive Afcons toward a renewed growth path.