Piramal Group Success Story | Journey to Become India’s Leading Global Conglomerate Company

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If you were to start a business, you would require considerable time and effort to maintain the legacy. For businesspeople to run a business is not an easy job. It needs dedication and strategic planning to be successfully managed.

There are some entrepreneurs who like to take up challenges and diversify their businesses into multiple markets or industries. To put it simply, this type of business is called a conglomerate. As a matter of fact, India is home to many such conglomerates and over the past few years, it has witnessed some major developments with many growth-oriented policies.

Piramal Enterprises - Company Highlights

  • Headquarters-Mumbai, India
  • Sector-Conglomerate
  • Type-Private
  • Founder-Ajay Piramal
  • Key People-Dr.Swati Piramal (Vice Chairperson)
  • Founded-1984
  • Revenue-$1.8 billion (FY22)
  • Total Funding Raised-$737.1 million

Piramal Group - About and How does it work?

Piramal Group is a multinational company with holdings in pharmaceuticals, healthcare information management, life sciences, financial services, and real estate. Started by Ajay Piramal in 1984, Piramal Group now has offices in almost 30 countries and a team of over 10,000 people working from various cultures and regions.

The Piramal Group works by offering diversified commercial services under different categories such as Piramal Enterprises Ltd. (PEL), Piramal Pharma Ltd., Piramal Realty, and Piramal Foundation.

Pfizer's UK manufacturing site in Morpeth was purchased by the company in 2006. Piramal Group signed an agreement with Merck Pharmaceuticals in 2007 to collaborate on medication research and discovery. It secured a second medication research agreement with Eli Lilly and Company in 2008.

Piramal Group - Founder and Team

Piramal Group was founded by Ajay Piramal in 1984.

Ajay Piramal

Ajay Piramal is the Chairman of the Piramal Group. He was born on August 3, 1955, in Rajasthan, India to Gopikisan Piramal and Lalita Piramal. Ajay Piramal earned a bachelor's degree in science from Jai Hind College and the Basantsingh Institute of Science at the University of Mumbai, and a master's degree in management studies from the Jamnalal Bajaj Institute of Management Studies at the University of Mumbai. He also did a six-week Advanced Management Programme at Harvard Business School in 1992. He has been awarded an honorary doctorate by Amity University in India, as well as an honorary doctor of science by IIT Indore.

Ajay Piramal has received many awards and honors. To name a few, he received the Honorary Commander of the Order of the British Empire (CBE) in 2022 for services to the UK-India trade relationship, Business Leader of the Year Award 2018, CNBC Asia's India Business Leader of the Year Award 2018, Outstanding Philanthropist 2013 and 2014, Forbes Philanthropy Awards, Special Achievement Award, Asia Pacific Entrepreneurship Awards (APEA) 2018 and many more.

Ajay Piramal plays many roles. He is the Non-Executive Director of Tata Sons Ltd. In addition, he is on the Board of Advisors at India's International Movement to Unite Nations. He has remained an invitee to the World Economic Forum for the last 20 years.

Ajay Piramal's wife is Dr. Swati Shah Piramal, who is the Vice Chairperson of Piramal Group. They have two children. Nandini Piramal D'Young, their daughter is married to US citizen Peter D'Young. Anand Piramal, their son, is married to Isha Ambani Piramal, daughter of Mukesh Dhirubhai Ambani, and his wife Nita Dalal Ambani.

Ajay Piramal's net worth was projected to be $3.7 billion as of June 2022.

Dr. Swati Shah Piramal

Born on 28th March 1956, Swati Shah Piramal is an Indian Scientist and Industrialist, and the Vice Chairperson of the Piramal Group. In 2012, the President of India awarded her the Padma Shri, one of India's highest civilian accolades, for her contributions to the scientific and technology industries.

Dr. Swati Piramal was the first woman to serve as President of India's Apex Chamber of Commerce. Along with this, she is also a member of the Harvard Board of Overseers and the Dean's Advisor to Harvard Business School and the Harvard School of Public Health.

She has founded Mumbai's Gopikrishna Piramal Hospital and has led public health initiatives against chronic diseases such as osteoporosis, malaria, tuberculosis, epilepsy, and polio.

Dr. Swati Piramal has a medical degree from Mumbai University. She holds her master's degree from the Harvard School of Public Health. For her various outstanding contributions to healthcare and philanthropic movements, Dr. Swati has been the recipient of many accolades. BMA Management Woman Achiever of the Year Award (2005), Nominated for the Forbes Philanthropy Awards 2013 in the Outstanding Philanthropist category, Listed in the 25 Most Powerful Women, and is now a part of the Hall of Fame of Most Powerful Women among many others.

Piramal Group - Mission and Vision

The mission statement of Piramal Group is, "We aim to serve our customers, community, employees, partners, and all other stakeholders by putting their needs and well-being first"

Piramal Group stays true to its following core values:

  • Knowledge
  • Action
  • Care
  • Impact

Piramal Group - Name, Tagline, and Logo

Piramal Group is named after the surname of the Piramal family.

The logo of Piramal Group was designed by taking inspiration from ancient times, which is the universal symbol of the Gyan Mudra. The symbol Gyan Mudra is often practiced in yoga, dance, and meditation. As seen, it displays a hand doing the mudra with each finger symbolizing one of the five elements - Air, Water, Earth, Fire, and Sky.

The tagline of Piramal Group is, "Doing Well and Doing Good"

Piramal Group - Business & Revenue Model

Piramal Group is a conglomerate industry whose business is divided into three major segments - Real Estate, Pharma, and Financial Services. It provides diversified commercial services. The firm operates its business in 30 nations, as well as has a worldwide brand presence in over 100 markets.

Piramal Group's biggest business is its Piramal Enterprises Ltd. (PEL). PEL recognized an opportunity to develop its pharma business and invested in the local formulation sector while the Indian pharmaceutical industry was focused on overseas generics.

Piramal Enterprises Ltd, Piramal Realty, and Piramal Foundation are the three main components or part of the Piramal Group business.

Here's taking a brief look into the business segments of Piramal Group:

Piramal Enterprises Limited -

Previously known as Piramal Healthcare Ltd., Piramal Enterprises Ltd. accounts for the largest company of the Piramal Group.

It is further divided into two categories -

Piramal Financial Services

It is active in business verticals by offering financial services such as

Piramal Capital & Housing Finance Limited (PCHFL) - It is a home financing corporation registered with the National Housing Bank (NHB) and involved in a variety of financial services companies. It offers wholesale and retail finance alternatives across industries. It also has customized financing solutions for the hospitality sector.

Piramal Alternatives  (PA) -It offers customized finance options for high-quality corporations seeking to enhance their growth.

Piramal Credit Fund (PCF) - PCF is a sector-agnostic fund that has received a significant capital commitment from CDPQ (Caisse de dépôt et placement du Québec) to invest in mid to large-sized corporations across industries.

India Resurgence Fund (IndiaRF) -By taking a flexible strategy approach, IndiaRF is an equal joint venture between Piramal Enterprises Limited and Bain Capital Credit. It invests capital in the form of both loans and equity, in distressed to control circumstances in the Indian market. It has a dedicated website for IndiaRF -

Piramal Pharma Ltd. (PPL)

The Piramal Group's Piramal Pharma provides a range of specific goods and services with the latest technological advanced manufacturing capabilities that are spread over 15 locations and a global distribution network in over 100 countries. It has services such as Pharma Solutions (the manufacturing unit), Critical Care (Complex Hospital Generics business), and Consumer Products Division (CPD) which sells over-the-counter medications. The company is also engaged in the ophthalmic category by teaming up with Allergan India. It is one of the leading specialty pharmaceutical companies in the ophthalmic category that offers high-quality medication and devices to treat diseases such as glaucoma, eye infections, and inflammations.

Piramal Realty

The Piramal Group ventured into the business of Real Estate in 2012 under the brand name Piramal Realty. It has architectural innovators KPF, HOK, Callison, Fosters, and Make among their collaborators, as well as worldwide structural consultants like BuroHappold, security and transportation specialists Max Security, and vertical transportation experts Lerch Bates.

Piramal Realty's mission reads, "To build India's most admired real estate company, admired not just for its scale & profitability, but also for its impact on the lives of its customers & the progress of our country."

Piramal Realty's top projects are - Piramal Mahalaxmi, Piramal Aranya, Piramal Agastya, Piramal Vaikunth, and Piramal Revanta.

Piramal Foundation

The company is vested in many philanthropic activities for which it established the Piramal Foundation in 2006. The foundation is actively engaged in the following projects:

Piramal Swasthya is a Karnataka-based health information helpline service named Arogya Vani.

Piramal Sarvajal, solar-powered water ATMs supply clean water in India.

Piramal School of Leadership provides education and women empowerment through the program - Piramal Fellowship and Principal Leadership Development Program (PLDP), Pratham delivers education to underprivileged children

Piramal Prize to recognize emerging organizations

Piramal Group - Revenue Growth

As of 2022, Piramal Group reported revenue of $1.8 billion (Rs 14,710 crores). The net income of the company stood at around $240 million (Rs 1,923.11 crores). The company generates about 40% of its revenue from outside the country.

Piramal Group - Funding and Investors

Piramal Enterprises has raised $737.1 million in three rounds of investment. Their most recent funding came from a Post-IPO Equity round on June 27, 2020. Their funding is supported by three investors. The most recent investors include The Carlyle Group and Standard Chartered Bank.

Piramal Group - Investments

On August 11, 2014, Piramal Enterprises invested in VGN Property Developers. This investment, Venture Round - VGN Property Developers, was worth $3 billion.

VGN Property Developers is a multibillion-dollar real estate firm based in Chennai.

Piramal Group - Advertisements and Social Media Campaigns

Piramal Capital and Housing Finance Ltd. (PCHF) launched a campaign in 2019 about their service called Bridge Loans. It is an ingenious tool that aids in the transition from selling an old house to purchasing a new one. Point of View Brandcom India is behind the concept of the advertisement. The ad shows how a person finds an apartment for his family but keeps the owner of the apartment waiting until he sells his old apartment.

Here's what Mayank Jain, Head of Sales & Marketing at Piramal Capital & Housing Finance said about the campaign, "We at PCHF are focused on introducing products that seek to simplify the lives of our customers. A common problem that we encounter regularly is the wait to sell your old apartment to buy a new one. Our newly launched product - Bridge Loans is the answer to this problem. Through the film, we aimed to highlight this challenge and bring focus to our innovative product, specially designed to support our customers' needs. We are pleased that Point of View Brandcom India has converted our brief into an effective product film by using humor to communicate our product offerings.”

Piramal Group - Awards and Achievements

Below is the list of the latest awards and achievements won by the Piramal Group:

  • Piramal Pharma recognized with the “2019 Global Customer Service Leadership Award” by Frost & Sullivan
  • Piramal Foundation recognized as 'Socially Aware Corporate of the Year by Business Standard CSR Awards 2019
  • Piramal Capital & Housing Finance recognized as ‘Outstanding Company in Infra Finance’ at the 8th EPC World Awards
  • Piramal Realty was awarded the prestigious 'Intelligent Enterprise Award 2018' by Technology Senate in Pune on June 7, 2018
  • Piramal Housing Finance was recognized as the 'Emerging Home Loans Provider of the Year at the MCHI CREDAI Golden Pillar Awards 2018 in Mumbai on May 5, 2018
  • Piramal Realty was conferred with the prestigious Mercer NDTV Employer Excellence Awards for ‘Excellence in Work-Life Balance’, in New Delhi on May 2, 2018
  • Piramal Glass USA was recognized as the 'Suppliers of the Year 2018' at TricorBraun's 2019 Annual Sales Meeting & Supplier Showcase in St. Louis on January 23, 2019
  • Piramal Housing Finance was recognized as the 'Emerging Home Loans Provider of the Year at the MCHI CREDAI Golden Pillar Awards 2018 in Mumbai on May 5, 2018
  • Piramal Pharma Solutions was recognized in all six categories including Capabilities, Compatibility, Expertise, Quality, Reliability, and Service at the recent CMO Leadership Awards, New York on March 21, 2018

Piramal Group - Competitors

The top competitors of Piramal Group are:

  • Sun Pharmaceutical Industries Ltd
  • Dr. Reddy's Laboratories
  • Cipla Limited
  • Aditya Birla Sun Life Insurance Company Limited
  • Apollo hospitals
  • Torrent Pharma
  • Abbott India
  • Max Healthcare
  • Divi's Laboratories
  • Glenmark Pharma Limited
  • Aurobindo Pharma Limited

Piramal Group - Future Plans

The Piramal Group is targeting to expand its financial services by adding 100 branches in FY23. The firm is all set to launch different and high-yielding products and aims to strengthen its partnerships with fintech and consumer tech firms. With their recent acquisition of debt-ridden DHFL, the company is planning to go for low-cost acquisitions.


Who is the CEO of Piramal Group?

Peter De Young is the CEO of Piramal Group.

How much is Ajay Piramal worth?

The net worth of Ajay Piramal is 940 Crores.

Where is the head office of Piramal Group?

The head office of Piramal Group is in Mumbai.

How many companies are there under the Piramal Group?

There are 3 companies under Piramal Group.