Cyrus Mistry's sons enter SP Group's inner circle under Shapoor's guidance

Industry observers view this generational inclusion as part of a larger reorganisation within the SP Group, which is reverting to its earlier twin-holding structure - SC Finance and SP Finance - and repositioning Shapoorji Pallonji Co as a dedicated construction company

Shapoor Mistry, chairman of the Shapoorji Pallonji (SP) Group, has brought the next generation into the fold by inducting his late brother Cyrus' sons - Firoz (27) and Zahan (25) - into a strategic team focused on the group's ongoing transformation, The Economic Times reported.

The team also includes his own son, Pallon, highlighting the family's succession planning.

While the brothers will participate in high-level decision-making, sources told ET that they will not immediately take on profit-and-loss responsibilities. Instead, Shapoor is extending to them the same mentorship and guidance he has long offered to his own son.

The development comes two years after Cyrus Mistry's passing in 2022. Insiders said Shapoor intends to gradually deepen Firoz and Zahan's role in operations and eventually bring them onto the group's boards, a process already underway with his own son.

Recently, the 61-year-old Shapoor stepped down as chairman of Afcons Infrastructure, the group's flagship, making way for 33-year-old Pallon Mistry - who has been engaged with the business for nearly a decade - to join the board.

Industry observers view this generational inclusion as part of a larger reorganisation within the SP Group, which is reverting to its earlier twin-holding structure - SC Finance and SP Finance - and repositioning Shapoorji Pallonji Co as a dedicated construction company.

"The new generation has recognised the internal challenges and is working to address them," an executive told ET on condition of anonymity.

The SP Group did not comment on the developments.