Chairman of diversified Shapoorji Pallonji (SP) Group, Pallonji Mistry, died at his residence on Tuesday in Mumbai.

Mr Mistry, whose SP Group is the largest shareholder in the Tata Group with 18.37% holding in the conglomerate, was 93.

Mr Mistry died mid-sleep at 1.00 a.m. at his residence in South Mumbai. He had obtained Irish citizenship.

Mr Mistry was born in 1929 and headed the privately held, above $5-billion SP Group has its origins in the construction industry, which had diversified into other businesses like shipping, real estate, textiles, and home appliances.

Paying tribute to him, Prime Minister Narendra Modi said that he is saddened by the passing away of the billionaire Mistry.

PM Modi said he made massive contributions to the world of commerce and industry.

Union Cabinet Minister Smriti Irani explained Mr Mistry’s death as the end of an era. One of life’s greatest pleasures was to have seen his genius, his gentleness at work, she added.

Other ministers including Mansukh Mandaviya, Hardeep Singh Puri, Nitin Gadkari, and Chief Minister of Karnataka B.S. Bommai also expressed condolences.

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