IN HIS STUDENT years, Anand Piramal, executive director, Piramal Group, was in two minds about whether to get into consulting or banking to kickstart his career. He approached family friend and now his father-in-law Mukesh Ambani, chairman of Reliance Industries for advice, which changed the course of his thinking. Ambani told him, “Being a consultant is like watching cricket or commenting about cricket, while being an entrepreneur is like playing cricket.” Anand chose to be an entrepreneur and founded Piramal Realty, now one of Mumbai’s premier developers with prime residential and commercial properties across Mahalaxmi, Byculla, Thane, Kurla, Lower Parel, and Worli. According to Capitaline database, Piramal Realty reported a total income of ₹1,832 crore in FY23.
In 2017, Anand joined the board of Piramal Enterprises as a non-executive, non-independent director, as part of his father Ajay Piramal’s plan to groom next-generation leaders. In 2022, Piramal Pharma was demerged from Piramal Enterprises to create two separate listed entities.
Anand now heads the financial services business of the group, one of the country’s largest NBFCs specialised in affordable home lending, SME lending, construction finance, and mid-market corporate lending. Piramal Enterprises posted consolidated revenues of ₹9,087 crore in FY23, and net profit of ₹9,969 crore. Assets under management stood at ₹63,989 crore in FY23.
Anand oversees Piramal’s alternatives business, a fund with $1.5 billion under management and tie-ups with CDPQ, Bain Capital, CPPIB and others. — P.B.Jayakumar