BOARD OF DIRECTORS

Ajay Piramal
Chairman, Piramal Group

Mr. Ajay Piramal, one of India’s leading industrialists and philanthropists, and as Chairman of the Piramal Group, has led its transformation into a $ 10 Billion global business conglomerate. The Piramal Group has diverse interests in financial services, pharmaceuticals and real estate, with offices in 30 countries and its products sold in more than 100 countries. The Group has a strong track record of robust sustained partnerships with several marquee global investors and partners.

Under Mr. Piramal’s leadership, the Group completed the acquisition and merger of Dewan Housing Finance Limited (DHFL) in September 2021, marking the first successful resolution under the IBC route in the financial services sector. In value terms, the transaction is amongst the largest resolutions till date, setting the precedent for future resolutions in the sector.

He is also deeply invested in unblocking India’s socio-economic potential through the Piramal Foundation, and is an ardent promoter of social entrepreneurship. Mr. Piramal actively steers the Group’s involvement in various social impact initiatives through the Piramal Foundation, to develop innovative long term and scalable solutions to resolve issues that are critical roadblocks towards unlocking India’s economic potential. The Foundation currently works across 25 states and has impacted over 112 Million lives, mostly in partnership with state governments, through Piramal Swasthya, Piramal Sarvajal and Piramal School of Leadership. Piramal Foundation has partnered with NITI Aayog, India’s foremost think-tank, in 25 Aspirational Districts across 7 states in India, to improve human development indicators across Healthcare & Nutrition and Education, amongst marginalised sections of society.

In 2022, Mr. Piramal received an honorary Commander of the Order of the British Empire (CBE) by Her Majesty The Queen, for services to the UK-India trade relationship as India Co-Chair of the UK-India CEO Forum. He was also awarded the ‘Deal Maker Hall Of Fame’ at the Mint India Investment Summit 2022, in recognition for a lifetime of achievement and service in creating and unlocking value through investing and crafting deals.

Mr. Piramal holds key positions on the Boards of several companies and prestigious institutions. He serves on the Harvard Business School’s Board of Dean’s Advisors, is co-Chair of the UK-India CEO Forum and Non-Executive Director of Tata Sons Ltd. Passionate about contributing to education in India, Mr. Piramal also serves as President and Chairman of Anant National University and Chairman of the Pratham Education Foundation.

Mr. Piramal holds an Honours degree in Science from Mumbai University and a Master’s degree in Management Studies from the Jamnalal Bajaj Institute of Management Studies. He has completed an Advanced Management Programme from the Harvard Business School and has been conferred with an Honorary Doctor of Science (Honoris Causa) Degree by IIT-Indore, and an Honorary Doctorate in Philosophy (D. Phil) by Amity University, India.

Dr. Swati A. Piramal
Vice-Chairperson, Piramal Group

Dr. Swati Piramal is the Vice-Chairperson of Piramal Group, a global business conglomerate with diverse interests in pharmaceuticals, financial services and real estate. She is amongst India’s leading scientists and industrialists whose contributions to innovations, new medicines and public health services have touched many lives. In 2012, Dr. Piramal was awarded with the Padma Shri, one of the highest civilian honours of India, by the President of India.

Over the past 3 decades, Dr. Piramal’s efforts towards providing cost- effective and science-based healthcare globally, have significantly contributed in shaping the Indian pharmaceutical industry and to emerge as one of the largest producers of drugs in the world. She founded the Gopikrishna Piramal Memorial Hospital in Mumbai and was instrumental in launching several pan-India public health campaigns against chronic diseases, osteoporosis, malaria, diabetes, tuberculosis, epilepsy and child immunization. Dr. Piramal has authored several books on nutrition and health, including one for patients with renal disease and related disorders, and has written public policy papers on topics such as patent protection, intellectual property and data protection. Her strong influence on important public policies and governance on healthcare and related issues, is widely recognized and has led to major policy changes that have helped reduce the burden of disease.

As the Director of Piramal Foundation, the philanthropic arm of Piramal Group, Dr. Piramal is deeply involved in developing innovative long- term and scalable solutions to resolve issues that are critical roadblocks towards unlocking India’s economic potential. She spearheads the efforts of the Foundation towards effective public policy and governance that enables successful private-public-partnerships (PPP models) to effectively solve problems and help meet India’s SGD Goals. Dr. Piramal has played a significant role in establishing avenues that promote primary healthcare in rural India, developing frameworks for women empowerment and enabling systemic transformation of India’s public education system by realizing the potential of young leaders of tomorrow, and promoting sustainable models for facilitating access to safe drinking water. Under the leadership of Dr. Piramal, the initiatives of Piramal Foundation work cohesively with the central and state governments, as well as through collaborations with NITI Aayog, The Rockefeller Foundation and The Bill and Melinda Gates Foundation, amongst several others.

Through various capacities, Dr. Piramal has championed the cause of women leadership, and develops frameworks and policies to support women in leadership roles. She has served as the First Woman President of India’s Apex Chamber of Commerce (ASSOCHAM), in 90 years. Dr. Piramal, through her knowledge and experience, serves as a role model for several aspiring women, empowering them to bring in change at the highest levels of government and society.

Dr. Piramal is a Director on the Board of Nestle India and Allergan India, and is a Board Member of Dean’s Advisors to the Harvard Business School and the Harvard School of Public Health. She has been a Former Non-Executive Director on the Board of ICICI Bank, a Former Director on the Boards of SBI Capital Markets and Prudential ICICI Asset Management Company, and a Former Board Member on the Board of Life Insurance Corporation of India. Dr. Piramal has also served on various advisory council boards of industry, trade, science and research, art and technology, as well as on the boards of Indian and international academic institutions that include IIT Bombay, Xavier’s College Mumbai, University of Pennsylvania, IITB-Monash, Harvard School of Public Health and the Harvard Business School. In addition, she has served on the Prime Minister of India’s Trade Advisory Council and Scientific Advisory Council.

Dr. Piramal is a recipient of several prestigious awards and recognitions including Femina ‘Beautiful Indians Corporate for Good’ award (2022), FICCI Ladies Organisation (FLO) awards of excellence (2022), ‘Business Leader of the Year’ Award by Hello Hall of Fame Awards (2019); First Ladies Awards by the President of India (2018); ‘Woman of the Year’ Award for outstanding contributions to society in the Medical field by IMC Ladies’ Wing (2016); LinkedIn Power Profile list for most viewed CEOs on LinkedIn, India (2015); Kelvinator Stree Shakti Women Achievers Award by Colors (2014); Padma Shri, amongst the Highest Civilian Honours presented by the President of India (2012); Elected as the member of the Harvard Board of Overseers (2012); Alumni Merit Award - the Highest Award bestowed upon a Harvard Alumni by Harvard T.H. Chan School of Public Health (2012); nominated to the Hall of Fame - Most Powerful Women in Business by Fortune India (2011); Awarded by President of India for contributions to better Corporate Governance (2011); Global Empowerment Award – UK by Her Royal Highness, the Duchess of Kent (2011); Nominated 8 times in succession as one of the 25 Most Powerful Women in India by Business Today (2011-2003); Distinguished Industrialist Award for outstanding contributions to the Pharmaceutical Industry by Vellore Institute of Technology (2010); Rajiv Gandhi Award for Outstanding Woman Achiever by Rajiv Gandhi Foundation (2007); Awarded by Prime Minister of India for contributions in the field of Science and Technology (2006); ‘Chevalier de l’Ordre National du Merite’ (Knight of the Order of Merit) one of France’s Highest Honours for Medicine and Trade (2006); Chemtech Pharma Award for Biotech Industries (2006); Lucknow National Leadership Award by Lakshmipat Singhania-IIM, Lucknow (2006); Management Women Achiever of the Year Award by Bombay Management Association (2004-5).

Dr. Swati Piramal holds a Master’s Degree in Public Health from the Harvard Business School, in addition to a Medical Degree (M.B.B.S) and a Bachelor’s Degree in Medicine and Surgery from University of Mumbai, India.

Nandini Piramal
Executive Director, Piramal Enterprises Limited

Nandini Piramal is the Executive Director at Piramal Enterprises and Chairperson at Piramal Pharma Ltd. She is responsible for setting strategy and driving results at Piramal Pharma. Additionally she heads the Human Resources function and the Information Technology function at Piramal Group and Quality at Piramal Pharma.

She is leading a five-year transformation agenda across the Piramal Group for top talent identification and development process across levels. Piramal Enterprises is also the only Indian company to be part of Willis Towers Watson Global High Performing Norm.

In 2020, Ms. Piramal was recognised amongst ‘India’s Most Powerful Women’ by Business Today and in 2014, the World Economic Forum recognised her as a ‘Young Global Leader’. Ms. Piramal also advises Piramal Foundation and Piramal Sarvajal, which serves clean water daily to approximately 7,50,000 people across 20 Indian States.

She graduated with BA (Hons) Politics, Philosophy and Economics from Oxford University, followed by an MBA from Stanford Graduate School of Business.

Anand Piramal
Executive Director, Piramal Group

Anand Piramal currently runs the financial services businesses of the group. Piramal’s financial services business is one of India’s largest and most diversified NBFCs in the country with strong capabilities in affordable home lending, SME lending, construction finance and digital embedded finance. Anand also oversees Piramal’s Alternatives business which counts CDPQ, Bain Capital, CPPIB, IFC and Apollo as its partners.

Anand also runs Piramal Realty, the real estate arm of the group. Piramal Realty, is one of Mumbai’s leading developers with prime residential and commercial developments across Mahalaxmi, Bhyculla, Thane, Mulund, Kurla, Lower Parel and Worli. Piramal Realty also counts Warburg Pincus and Goldman Sachs as it’s investors. Anand was conferred with the Hurun Real Estate Unicorn of the Year Award (2017) by Hurun India and Young Business Leader Award by Hello! Magazine (2018).

Anand also founded a rural healthcare start-up called ‘Piramal eSwasthya’, Today ‘Piramal Swasthya’ is India’s largest private primary healthcare initiative. Its 2,260 plus employees and over 140 doctors serve around 25,000 patients daily across 28 states with the help of health hotlines, mobile medical units and telemedicine centres. Piramal Swasthya has impacted over 129.5 Million lives since inception.

Anand holds a Master’s Degree in Business Administration from Harvard Business School and a Bachelor’s Degree in Economics from the University of Pennsylvania. He was also the youngest President of the Youth Wing of the 100-year-old Indian Merchant Chambers.

Narayanan Vaghul
Former Chairman, ICICI Bank Limited

Mr. Narayanan Vaghul has served as a director on our Board since August 1997. He is the Chairman of our Audit & Risk Management Committee, Nomination & Remuneration Committee, Stakeholders Relationship Committee and Corporate Social Responsibility Committee. He was the Chairman of the Board of ICICI from September 1985 to April 2009 and was on the boards of Piramal Finance Limited, Apollo Hospitals Enterprise Limited and Mahindra World City Developers Limited until May 2018, March 2019 and April, 2019 respectively. He was on the board of Wipro Limited until July 2019. He is currently on IKP Trusteeship Services Private Limited. He was a board member of Arcelor Mittal, Luxembourg from July 1997 to May 2017. He was on the board of Universal Trustees Private Limited until March 2019.

Mr. Vaghul holds a Bachelor (Honors) degree in Commerce from Madras University. He was the recipient of the Padma Bhushan award by the Government of India in 2010. He also received the Lifetime Achievement Awards from Economic Times, Ernst & Young Entrepreneur of the Year Award Program and Mumbai Management Association. He was given an award for the contribution to the Corporate Governance by the Institute of Company Secretaries of India in 2007.

S. Ramadorai
Former Vice Chairman, Tata Consultancy Services

Mr. S. Ramadorai was in public service from February 2011 to October 2016. During his tenure as the Chairman of the National Skill Development Agency (NSDA) and the National Skill Development Corporation (NSDC) his approach was to standardize the skilling effort, ensure quality and commonality of outcomes by leveraging technology and create an inclusive environment to co-operate, collaborate & co- exist. He strongly believed that empowering the youth with the right skills can define the future of the country.

Mr. Ramadorai is currently the Chairman of the Advisory Board at Tata STRIVE, which is the Tata Group’s CSR skill development initiative that aims to address the pressing national need of skilling youth for employment, entrepreneurship and community enterprise. He is also the Chairman of Tata Technologies Limited and additionally serves as an Independent Director on the Boards of Piramal Enterprises Limited, Piramal Pharma Limited and DSP Investment Managers. In March 2016, he retired as the Chairman of the Bombay Stock Exchange (BSE Limited) after having served on their board for a period of 6 years.

Mr. Ramadorai took over as the CEO of Tata Consultancy Services (TCS) in 1996 when the company’s revenues were at $ 155 million and since then led the company through some of its most exciting phases, including its going public in 2004. In October 2009, he retired as the CEO, leaving a $ 6 billion global IT services company to his successor. He was then appointed as the Vice Chairman and retired in October 2014, after an association of over four decades with the company.

Given his keen passion to work for the social sector and community initiatives, he also serves as the Chairman on the Council of Management at the National Institute of Advanced Studies (NIAS). He is also the President of the Society for Rehabilitation of Crippled Children (SRCC) – which has recently built a super specialty children’s hospital in Mumbai. In February 2020, Mr. Ramadorai was also appointed as the Chairperson of the Kalakshetra Foundation’s Governing Board by the Union Ministry of Culture.

In recognition of his commitment and dedication to the IT industry he was awarded the Padma Bhushan (India's third highest civilian honour) in January 2006. In April 2009, he was awarded the CBE (Commander of the Order of the British Empire) by Her Majesty Queen Elizabeth II for his contribution to the Indo-British economic relations. In 2016, he was also awarded The Economic Times - Lifetime Achievement Award for his glorious contribution to Tata Consultancy Services.

His academic credentials include a Bachelor’s degree in Physics from Delhi University (India), a Bachelor of Engineering degree in Electronics and Telecommunications from the Indian Institute of Science, Bengaluru (India) and a Master’s degree in Computer Science from the University of California – UCLA (USA). In 1993, Ramadorai attended the Sloan School of Management’s highly acclaimed Senior Executive Development Program.

Ramadorai is a well-recognized global leader and technocrat who has participated in the Indian IT journey from a mere idea in 1960’s to a mature industry today. Ramadorai captured this exciting journey in a wonderfully personalized book titled 'The TCS Story...and beyond' which was published in 2011 and remained on top of the charts for several months.

Among his many interests, Ramadorai is also passionate about photography and Indian classical music.

Kunal Bahl
Independent Director

Mr. Kunal is a technology entrepreneur and investor.

He is the Co- Founder and CEO of Snapdeal, India’s leading value e-commerce company. Snapdeal has partnered with several global marquee investors such as Softbank, BlackRock, Temasek, eBay Inc., Mr. Ratan Tata, Mr. Azim Premji, among others.

He is also an investor in early stage technology startups across India and South East Asia, having invested in 250+ technology companies. He is also a member of the Nasscom Executive Committee since 2019 and is a past Chairman of the CII National E-commerce Committee. He is also a part of the National Startup Advisory Council, a Government constituted committee to advise the Government on promoting the Indian startup ecosystem.

Kunal is an engineer from the University of Pennsylvania, with a business degree from The Wharton School. At the University of Pennsylvania, he was part of the prestigious Jerome Fisher Management and Technology Program. He was named The Economic Times Entrepreneur of the Year 2015 and featured in the Fortune Global 40 under 40 list in 2014.

Suhail Nathani
Independent Director

Mr. Suhail Nathani is a co-founding partner at Economic Laws Practice (ELP). He has over 3 decades of experience as a lawyer. He has appeared for the Government of India before the WTO Panel and Appellate Body in Geneva, has represented the Competition Commission of India and the Securities and Exchange Board of India at the Supreme Court and various other courts in India.

He earned his Master’s Degree at Cambridge University, England and has also received an LL.M. from Duke University, USA. Besides India, he is also admitted to the New York Bar.

He is widely recognised by global publications as a leading lawyer in his fields of practice.

Anjali Bansal
Independent Director

Anjali Bansal is the Founder and Chairperson of Avaana Capital, investing in technology and innovation-led start-ups catalysing climate solutions and sustainability and delivering exponential returns. Previously, Anjali has been the Non-Executive Chairperson of Dena Bank, appointed by the Government of India to steer the resolution of the stressed bank, eventually leading to a merger with the Bank of Baroda. Prior to that, Anjali was a Global Partner and Managing Director with TPG Growth PE, responsible for India, SE Asia, Africa and the Middle East. She started her career as a strategy consultant with McKinsey and Co. in New York.

Anjali has invested in various successful start-ups including Delhivery, Urban Company, Darwinbox, Nykaa, Lenskart and Farmart. She has rich knowledge of new economy companies, and has been supporting them to leverage opportunities ahead of them while overcoming the challenges in their path to success. She will bring this understanding to the PEL Board as it continues on its journey and a new phase of its growth.

She also serves as an independent director on several leading boards including Tata Power and Nestle. She has previously chaired the India board of Women’s World Banking, a leading global livelihood- promoting institution, and served as a board member at GSK Pharma, Siemens and Bata.

Anjali is a Member of the Niti Aayog Review Committee, India’s premier policy think tank chaired by the Hon’ble Prime Minister. She is also on the Advisory Council for the Open Network for Digital Commerce (ONDC), the world’s first open access infrastructure for digital commerce, the Managing Committee of the Indian Venture Capital Association (IVCA) and has been appointed as President of the Bombay Chamber of Commerce and Industry. She is on the Expert Advisory Committee of the Start Up India Seed Fund Scheme and is closely associated with NITI Aayog Women Entrepreneurship Platform and Atal Innovation Mission.

She is a member of the Young Presidents’ Organization and a Charter Member of TiE. She has been listed as one of the “Most Powerful Women in Indian Business” by India’s leading publications, Business Today, and by Fortune India.

Puneet Dalmia
Independent Director

Mr. Puneet Dalmia is the Managing Director of the Dalmia Bharat Group and has been the driving force behind the exponential growth witnessed by the Dalmia Bharat Group since he took over the reins in 2004.

He has transformed the organisation and built a professional team that led it on a path of accelerated growth, while maintaining the core values which have been the foundation of this 80-year old conglomerate with interests in cement, sugar and refractories.

Prior to leading Dalmia Bharat Group, Mr. Dalmia co-founded JobsAhead. com in 1999, one of the few successful dotcom companies. JobsAhead had a market share of close to 50% before it was sold to Monster.com.

Mr. Dalmia is very passionate about his country and strives to create a better India. He firmly believes that a good business must be a force for good in society. He’s enthusiastic about investing in young businesses and entrepreneurs and is motivated by human values.

Amongst various other accolades, Mr. Dalmia has been recognised as the EY Entrepreneur of the Year 2017 in the manufacturing category He has served as an Advisory Board Member of NS Raghavan Center for Entrepreneurship, IIM-B and the Young Presidents’ Organization, Delhi Chapter. In 2021, Mr. Dalmia has also been appointed by the Government of India as Chairman of the Development Council for the Cement Industry. He has a keen interest in education and serves as a Founder and Trustee of the Ashoka University.

A gold-medallist MBA from IIM-Bangalore and holds a B. Tech degree from the prestigious IIT-Delhi.

Rajiv Mehrishi
Independent Director

Mr. Rajiv Mehrishi is a retired Indian Administrative Service (IAS) officer of the 1978 batch belonging to the Rajasthan Cadre.

Mr. Mehrishi has served in various key posts in both Union and Rajasthan Government. During his stint as Joint Secretary, Department of Company Affairs, he was involved in the enactment of the Competition Act, and re-writing the Companies Act, 1956 which gave him an insight into the functioning of companies and Companies law. He also re-wrote the transport taxation laws and the rules for the Narcotics and Psychotropic Substances Act, 1984, which became a template for all other states in the country. He was pivotally involved in the important reforms of setting up the Monetary Policy Committee (MPC), and enactment of the Indian Bankruptcy Code (IBC) and the Competition Act.

During his tenure as the Principal Secretary Finance, and the Chief Secretary in Rajasthan, he gathered good understanding about functioning of the State Government, Centre-State relations, and of fiscal federalism which was accentuated by his experience as the Union Finance Secretary. As Principal Secretary Finance in Rajasthan he played a central role in conceptualising and introducing the biometric and bank-linked “Bhamashah” card, even before the Aadhar card scheme was announced by the Government of India in 2009.

Thereafter, he held the position of Union Home Secretary in the Central Government. Later, as the 13th Comptroller and Auditor General of India (C&AG), he had the experience of auditing various transactions of both State and Central Government across all Departments and Ministries.

In 2022, Mr. Mehrishi was awarded with the Padma Bhushan, one of the highest civilian honors of India, by the President of India.

He has a wide experience of over 42 years and is well placed to advise and guide the Company in the discharge of its functions, including good corporate governance and shareholder protection, especially the small shareholders.

Mr. Mehrishi holds a degree in B.A (History Hons.), M.A. (History) from St. Stephen’s College, Delhi, and a Master of Business Administration from the University of Strathclyde, Glasgow, Scotland.

Anita George
Independent Director

Ms. Anita George has over three decades of experience. Ms. George is a distinguished financial sector executive with extensive and diverse global experience in institutional finance and investing in sustainable infrastructure in Renewable Energy, Logistics and Water. She commands deep expertise in finance, including credit, structured finance, project finance, mezzanine and equity investments. She has a good understanding of the loan book (wholesale and retail), housing and real estate finance, advisory businesses including mandatory pension, wealth management, asset reconstruction and stressed debt.

Ms. George is well known in the industry for her expertise in Infrastructure finance especially Renewable Energy Finance and Climate Finance. She was part of the team responsible for created the Scaling Solar initiative at the World Bank Group. At the International Finance Corporation (‘IFC’), she created a new business line for municipal finance and pioneered IFC’s investments in the Renewable Energy Sector. At Caisse de Dépôt et Placement du Québec (‘CDPQ’) she grew the emerging markets exposure from 5% to 15% during her five-year tenor and was Executive Vice President and Deputy Head of CDPQ Global.

Ms. George has served on 8 boards of which 4 have been in the financial sector. As a board member, she has focused on helping the board anticipate and be proactive about key strategic issues that could disrupt the company, and risk and compliance from a statutory, regulatory and legal perspective. Her contributions include improvements in the boards’ reporting to investors and stakeholders in terms of quality, frequency, and timeliness. Ms. George has been critical in helping companies globalize and in anticipating and addressing technology and people as two essential pillars of success.

She is passionate about and committed to human capital development and economic empowerment of women and girls. She is actively engaged in mentoring women and girls.

Ms. George holds a dual master’s degree in Economic Policy and a Master of Business Administration in Finance from Boston University, and a Bachelor of Arts in Economics with a minor in Spanish from Smith College.

Shikha Sharma
Non-Executive, Non-Independent Director

Ms. Shikha Sharma is a B.A (Hons.) in Economics, PGD in Software Technology and PGD from IIM, Ahmedabad. She has rich experience in banking & insurance and has an excellent track record. She led the bank on a transformation journey from being primarily a corporate lender to a bank with a strong retail deposit franchise and a balanced lending book.

She began her career with ICICI Bank in 1980. She was the MD and CEO of ICICI Personal Financial Services from May 1998 to December 2000. Thereafter, she was the Managing Director and CEO of ICICI Prudential Life Insurance Company from December 2000 to June 2009. Later she was appointed as the Managing Director and CEO of Axis Bank from June 2009 till December 2018.

Ms. Sharma has won many awards, including Outstanding Businesswoman of the year- CNBC TV18, AIMA JRD TATA Corporate Leadership, Banker of the Year – Business Standard, and has been recognized Top 20 Women in Finance by Finance Asia and 50 most powerful women in business by Fortune. She is on the board of directors of public listed companies’ viz. Tata Consumer Products Limited, Ambuja Cements Limited, Tech Mahindra Limited, Mahindra & Mahindra Limited, Dr. Reddy’s Laboratories Limited and Piramal Enterprises Limited. She is also an advisor to Google India Digital Services Private Limited, NextBillion Technology Private Limited, Bahaar Foundation - a unit of Akshati Charitable Trust and a member of the Board of Governors of IIM, Lucknow.

Vijay Shah
Non-Executive Director, Piramal Enterprises Ltd.

Mr. Vijay Shah is Director at Piramal Enterprises Limited and Vice Chairman at PGP Glass Private Limited. (formerly, Piramal Glass Private Limited).

Mr. Shah started his career in 1982 as Senior Consultant with Management Structure & Systems Pvt. Ltd., a management consultancy organization providing services for large firms such as Larsen & Toubro (L&T), Siemens, etc. He joined Piramal Group’s Strategic Planning function in 1988 and later moved to Piramal Glass as Managing Director. Under his leadership, Piramal Glass’s sales grew from Rs.26 crores in FY1992 to Rs.238 crores in FY2000 (CAGR of 32%). After his successful stint at Piramal Glass, he was entrusted the responsibility of Pharmaceutical formulations business at Piramal Healthcare in 1999. Under his leadership, the company moved from Rank 23 to Rank 4 in Indian Pharma industry, achieving sales of Rs.932 crores in FY2006 (CAGR of ~28% during his tenure). After this turnaround at Piramal Healthcare, he moved back to Piramal Glass as Managing Director in 2006.

Mr. Shah has done B.Com (1980) and is a rank holder of Institute of Chartered Accountants of India (1981). He has also done a Management Education Programme from IIM, Ahmedabad (1987), and Advanced Management Program from the Harvard Business School, Boston, USA (1997).

Khushru Jijina
Executive Director, Financial Services, Piramal Enterprises Ltd. Managing Director, PHL Fininvest Private Ltd.

Mr. Khushru Jijina is the Executive Director, Financial Services, Piramal Enterprises Ltd. (PEL). A Chartered Accountant with an illustrious career spanning well over three decades in the field of real estate, corporate finance and treasury management, Mr. Jijina has been associated with the Piramal Group for two decades. Under his leadership, PCHFL has grown rapidly and provides both wholesale and retail funding opportunities across sectors.

In real estate, the platform provides housing finance and other financing solutions across the entire capital stack ranging from early stage private equity, structured debt, senior secured debt, construction finance and flexi lease rental discounting. The wholesale business in the non-real estate sector includes separate verticals – Corporate Finance (CFG) and Emerging Corporate Lending (ECL). CFG provides customized funding solutions to companies across sectors such as infrastructure, renewable energy, roads, industrials, auto components etc. while ECL focuses on lending towards Small and Medium Enterprises (SMEs).

Mr Jijina has been recognised with several prestigious leadership accolades over his career of more than two decades with the Piramal Group. Prior to his current stint, Mr. Jijina was the Managing Director of Piramal Realty where he was responsible for a portfolio of real estate development projects and oversaw all aspects of their execution. He was also the Executive Director of Piramal Sunteck Realty. He joined the Piramal Group in 2001 as Vice President, Treasury, and was instrumental in securing debt at the lowest cost for the group, setting new benchmarks in the debt market. Mr. Jijina started his career with Rallis, a TATA Group company, where he held several pivotal positions in corporate finance and treasury.