In 1984, Ajay Piramal was 29 years old when his father passed away, leaving him in charge of a flailing textile business in an industry crippled by one of the longest trade union strikes.
Ajay Piramal takes charge of Morarjee Mills
The Group entered glass packaging in 1984 with the acquisition of Gujarat Glass, followed by Ceylon Glass in 1999. Piramal Glass has grown to be Asia's only specialty glass packaging company supplying to 17 of the top 20 clients across the globe.
Enters glass packaging
In 1988, Ajay acquired Nicholas Laboratories, the Australian multinational. In the 1990s, while Indian firms were being acquired by large international companies, Piramal went on to acquire the assets of other multinationals.
Acquires Nicholas Labs
At the time of acquisition, Nicholas Laboratories was ranked 48th in the Indian pharmaceutical industry. A decade later it was in the top 5 pharma companies in India and the 3rd largest in the domestic formulations business.
From 48th to top 5
Piramal Group entered the real estate sector and developed marquee real estate projects such as India's first modern retail mall, Crossroads, in 1999, and Mumbai's first organized workspace Peninsula Corporate Park.
Enters Real Estate
Post the 2010 sale of the domestic formulations business to Abbott, we expanded into Healthcare, Life Sciences and Financial Services. We have been recognized as one of the largest custom manufacturing companies in the world.
Forays into Healthcare and Life Sciences
In 2012, Piramal Fund Management Pvt. Ltd. (formerly known as Indiareit) was fully integrated as a 100% subsidiary of Piramal Capital. Currently, funds under management/advisory total approximately INR 75,500 Million including 6 domestic, 1 offshore and 3 third party mandates.
Pioneers Real Estate Fund Management
The Journey Continues
Providing the healing touch
We endeavor to deliver the best pharmaceutical solutions