Late Cyrus Mistry son Firoz joins Afcons Board

Afcons Infrastructure Ltd of the Shapoorji Pallonji (SP) Group said it has inducted Firoz Cyrus Mistry, the son of former Tata Group chairman late Cyrus Misty as non-executive director and banker Santosh Balachandran Nayar as independent director into its board.

Krishnamurthy Subramanian, executive chairman, Afcons said, “Their entry marks their passionate involvement in shaping Afcons’ future.”

This comes close on the heels of Pallon S. Mistry, Shapoor Mistry’s son, another next-generation member of the SP family, joining the Afcons board last month — signalling next-gen family involvement in Afcons.

“Both Firoz and Pallon have been engaged with the company since a long time, in their individual capacities. They will bring fresh perspectives and insights to the Board through their diverse experiences, their international exposure and unique understanding of infrastructure business,” Mr. Subramanian said.

“The active participation of the young members of Mistry family alongside seasoned professionals shall propel Afcons towards a renewed growth trajectory,” he said.

Firoz Cyrus Mistry is on the boards of S.C. Finance and Investments Pvt Ltd and Cyrus Investments Pvt Ltd, and designated partner in CPM Nexgen Ventures LLP and Mistry Ventures LLP.

At 29, Mr. Firoz Cyrus Mistry brings a next-generation leadership perspective, combining fresh insights with a forward-looking strategic mindset, while remaining grounded in the Shapoorji Pallonji Group’s values of trust and collaboration, Afcons said.

“He brings a strong educational foundation with his liberal arts education from Yale University, USA, which has provided him with critical thinking skills, analytical capabilities, and a broad interdisciplinary perspective valuable for business decision-making,” it added.

Mr. Nayar, has over four decades of experience in project finance, banking, and insurance. He has held several senior leadership positions, including deputy managing director and group executive (Corporate Banking) at the State Bank of India, managing director and chief executive officer at IFCI Limited, and chairman and managing director at India Infrastructure Finance Company Limited.

He currently serves as an independent director on the boards of several companies in the power, finance, and infrastructure sectors. He had been nominated by the Prime Minister as a member of Dr. Kelkar Committee for developing PPP model for India.