Anand Piramal joins office, testing realty waters

Finally, Anand Piramal, the 25-year-old Harvard graduated son of Ajay and Swati Piramal has joined Piramal Realty, the real estate arm of the group starting this month. Sachin Dave and Sachin Kumar report.

Finally, Anand Piramal, the 25-year-old Harvard graduated son of Ajay and Swati Piramal has joined Piramal Realty, the real estate arm of the group starting this month.

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It is expected that Anand would explore opportunities for Piramal Realty, the real estate arm of the group, outside Mumbai. At present Piramal Realty is a Mumbai-focussed company, but the group has substantial land holdings in south India.

“Anand has mentioned that he would want Piramal Realty to explore opportunities outside Mumbai too,” a person who is close to the company said.

It is speculated that Anand could head the real estate focussed NBFCs that the group launched in May. “This could be a platform for Anand,” said an industry expert.

HT was the first to report in May that Anand would join the group’s realty business. “Anand has finally joined Piramal Realty and is also meeting top executives in the real estate sector outside his organisation. It seems he wants to maintain a low profile,” a senior executive with a real estate consultancy said.

An Piramal Group employee told HT that Anand does come to the office, but seems to be learning the ropes rather than taking an active part in decision-making. “His interactions are limited to the top executives in the office and he too remains more or less inside the office, except for some high-level meetings,” he said.

Group chairman Ajay Piramal had told HT in May that his son would join the group soon, and that his inclination is towards real estate.