Shapoor Mistry has stepped down as chairman of Afcons Infrastructure, the infrastructure engineering and construction arm of the Shapoorji Pallonji Group. The company confirmed the development in an exchange filing on 28 August.
After more than 25 years on the board, including 13 years as chairman, Shapoor Mistry said he was resigning to enable a smooth leadership transition while ensuring that Afcons remains a professionally managed organisation. He will now take on the role of chairman emeritus, an honorary and non-board position without remuneration, to provide guidance and mentorship.
His son, Pallon Shapoorji Mistry, has been appointed to the board as a non-executive director effective 29 August. At the same time, the board promoted Subramanian Krishnamurthy, who was serving as executive vice chairman, to the position of executive chairman.
Afcons Infrastructure has reported strong financial performance. The company posted a consolidated profit after tax of ₹137 crore in the first quarter of FY26, compared to ₹92 crore in the same quarter last year, marking a 50 percent rise.
This leadership change comes at a sensitive time for the Shapoorji Pallonji Group as discussions continue regarding its potential exit from Tata Sons. The SP Group currently owns an 18.37 percent stake in Tata Sons, the holding company of the Tata Group.
Earlier this month, Tata Trusts, led by Noel Tata, passed a resolution that Tata Sons should continue as an unlisted private company. Discussions have been initiated with the SP Group to explore possible options for its exit. According to the resolution, “It was agreed at the meeting to request the chairman of Tata Sons to explore all possible avenues for ensuring that there was no change in the status of Tata Sons as it currently stood. This included a dialogue with the minority shareholders for providing an exit to them.”
The development highlights both a generational leadership transition within Afcons and an important moment in the ongoing relationship between the SP Group and Tata Sons.
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