Ever since the Piramal family split in 2004, the three sons of the late Ashok Piramal bounced back to craft their own niches, guided by mother Urvi Piramal. The split left Harsh, Rajeev and Nandan with real estate and textiles, the traditional family businesses.
Harsh, who now manages the textile and auto-components business, started off with a venture capital fund in 1995, then joined the family's corporate office, took a break to pick up an MBA and returned to join the real estate and pharma business in 1999. He also tried his hand at an IT services start-up. In 2000, he was back to the group and turned around the non-pharma businesses within 15 months.
Rajeev Piramal, 33, BBA, Baldwin Wallace College, USA - Work experience: Only within the family business.
- In family business : Since Jan. 2001.
- Now: Executive Vice Chairman, Peninsula Land
- Lesson from parents: Operate or run a business in a manner that doesn't compromise on transparency and ethics.
- Fast forward 2020: To see Peninsula Land as a well-diversified real estate company.
- Best friend/guide in India Inc.: Jaydev Modi (Uncle), Chairman of Arrow Webtex. Deepak Parekh, non-Executive Chairman of HDFC Ltd.
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In the family split, these divisions went to Ajay Piramal Group, while Urvi got textiles and autocomponents and real estate. It was painful to lose the business his sons had nurtured, but it helped them move ahead faster. "...It was the best thing which could have happened… responsibilities got defined," explains Rajeev, who has been with the real estate business from the day he completed his studies in 2001.
Rajeev's first challenge was in getting clearances for India's first mall, Crossroads, in Mumbai (later sold to Future Group). Peninsula Land, the group's largest division, turned out to be the only profit-making listed real estate company in the downturn of 2008.
Nandan, the youngest of them all, is where his heart is: building up the group's fledgling entertainment and sports business.
Nandan Piramal, 29, Undergraduate from University of London - Work experience: Worked in AZB Partners and UTV Software Communications.
- In family business : Since April 2004.
- Now: Executive Vice Chairman, Jammin Entertainment and Pune Football Club Ltd.
- Lesson from parents: Do whatever you want to achieve with full dedication.
- Fast forward 2020: Expand the penetration of Ashok and Urvi Piramal Foundation to 10,000 villages, make Jammin Entertainment a front-runner in family entertainment business.
- Best friend/guide in India Inc.: Jaydev Modi (Uncle), Chairman of Arrow Webtex. Deepak Parekh, non-Executive Chairman of HDFC Ltd.
| Harsh Piramal, 36, MBA, London Business School - Work experience: At Indocean Chase Capital Partne... set up an IT services firm in 2000.
- In family business : Since August 2000.
- Now: Executive Vice Chairman, Morarjee Textiles, and PMP Auto Components.
- Lesson from parents: If you want to be very successful, you have to work harder than everyone else around you.
- Fast forward 2020: Among the world's top three makers of wiping systems.
- Best friend/ Guide in India Inc.: Jaydev Modi (Uncle). Deepak Parekh, non-Executive Chairman of HDFC Ltd.
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