The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and

real estate Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...

History

In the early 1980s, Ajay Piramal took over the reins of Piramal Group. In 1984, the group acquired Gujarat Glass Limited, a manufacturer of glass packaging for

pharmaceutical A medication (also called medicament, medicine, pharmaceutical drug, medicinal drug or simply drug) is a drug used to diagnose, cure, treat, or prevent disease. Drug therapy (pharmacotherapy) is an important part of the medical field an ...

and cosmetic products, followed by Ceylon Glass in 1999. In 1988, the group bought Nicholas Laboratories, which later flourished and by 2010 reached the highest valuation in the

pharmaceutical industry The pharmaceutical industry discovers, develops, produces, and markets drugs or pharmaceutical drugs for use as medications to be administered to patients (or self-administered), with the aim to cure them, vaccinate them, or alleviate symptoms. ...

. Over the decade, the company acquired many business units to strengthen their presence. In 1999, Piramal Glass acquired Ceylon Company Limited, Sri Lanka. In 2006, the company bought

Pfizer Pfizer Inc. ( ) is an American multinational pharmaceutical and biotechnology corporation headquartered on 42nd Street in Manhattan, New York City. The company was established in 1849 in New York by two German entrepreneurs, Charles Pfizer ...

’s UK manufacturing facility in

Morpeth Morpeth may refer to: *Morpeth, New South Wales, Australia ** Electoral district of Morpeth, a former electoral district of the Legislative Assembly in New South Wales * Morpeth, Ontario, Canada * Morpeth, Northumberland, England, UK ** Morpeth (UK ...

. The company also formed the Piramal Foundation, a philanthropic arm of the group. In 2007, it underwent a deal with

Merck Pharmaceuticals The Merck Group, branded and commonly known as Merck, is a German multinational science and technology company headquartered in Darmstadt, with about 60,000 employees and present in 66 countries. The group includes around 250 companies; the m ...

for development and discovery of new drugs. In 2008, it signed a second drug development deal with Eli Lilly and Company. The company Nicholas Laboratories was renamed to Piramal Healthcare Ltd. In 2010, Piramal Healthcare sold its domestic formulations business to Abbott for $3.72 billion (about 18,000 crore). It was considered to the "most expensive pharma deal ever" by Forbes India. Piramal Healthcare then sold its diagnostics chain Piramal Diagnostic Services to SRL for 600 crore. In the same year, the group formed its own real estate entity, Piramal Realty. 2011 saw Fortune 500 ranking Piramal Healthcare in the top-50 largest corporations across India. UN Conference on Trade and Development’s World Investment Report 2011 ranked Piramal Healthcare as No. 5 in the top 10 pharmaceutical contract manufacturers worldwide. In 2011–12, Piramal bought 11% in Vodafone Essar. In 2014, it sold its 11% Stake in

Vodafone India Vodafone India (formerly Vodafone Essar Ltd, Huchison Essar Ltd) was the Indian subsidiary of UK-based Vodafone Group plc and was a provider of telecommunications services in India with its operational head office in Mumbai. As of March 2018, ...

to Prime Metals, an indirect subsidiary of

Vodafone Group Vodafone Group plc () is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania. , Vodafon ...

. In 2012, Piramal Healthcare was renamed to

Piramal Enterprises Ltd The Piramal Group is an Indian multinational conglomerate that has presence across various sectors such as healthcare, life sciences, drug discovery, financial services, alternative investment and real estate. History In the early 1980s, Ajay ...

. BST-CarGel, Piramal's innovative bio-orthopaedic product for cartilage repair, received European CE mark approval. Piramal's Decision Resources Group acquired Abacus International, a UK based company. Piramal Enterprises acquired the brand Caladryl in India. Caladryl is an anti-pruritic solution known for dermatosis application for minor skin irritations and itching. This acquisition enabled Piramal Enterprises to widen its consumer products portfolio in the skin care segment. Piramal Imaging entered into a Strategic Partnership and Exclusive Licensing Agreement with Ci-Co Healthcare for Commercialization of florbetaben F18. European Union’s CHMP recommends EU approval of Piramal Imaging’s radiopharmaceutical NeuraCeq (florbetaben 18F). In December 2020, Piramal Glass was sold to

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate b ...

for 1 billion.

Group companies

The Piramal Group comprises 3 key companies: Piramal Enterprises Ltd, Piramal Pharma Ltd and Piramal Realty. Piramal Enterprises and Piramal Pharma are listed at both

Bombay Stock Exchange BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...

and National Stock Exchange.

Piramal Enterprises

Piramal Enterprises Limited is the flagship company of Piramal Group, and active in financial services. Piramal Enterprises is involved in retail lending, housing finance and vehicle financing. It has two main subsidiaries viz., Piramal Capital & Housing Finance (PCHFL) and PHL Fininvest. It also holds minority stakes in

Shriram Group Shriram Group is an Indian conglomerate headquartered in Chennai. It was founded on 5 April 1974 by R. Thyagarajan, AVS Raja and T. Jayaraman. The group had its beginning in chit funds business and later on entered the lending and insurance b ...

companies. In 2021, Piramal acquired the bankrupt

Dewan Housing Finance Corporation Piramal Capital and Housing Finance Limited (earlier Dewan Housing Finance Corporation Ltd. (DHFL)) is a non-deposit taking housing finance company, headquartered in Mumbai with branches in major cities across India. DHFL was established to ena ...

and merged it with PCHFL. PCHFL's retail finance division provides

microlending :''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropayme ...

and

buy now, pay later Buy now, pay later (BNPL) is a type of short-term financing that allows consumers to make purchases and pay for them at a future date. BNPL is generally structured like an installment plan money lending process that involves consumers, financiers, ...

services on behalf of partner

fintech Fintech, a portmanteau of "financial technology", refers to firms using new technology to compete with traditional financial methods in the delivery of financial services. Artificial intelligence, blockchain, cloud computing, and big data are r ...

companies like ZestMoney, MoneyView, EarlySalary, Navi Group and KreditBee, and is also engaged in vehicle financing for partner companies like CARS24, CarDekho and Spinny. Apart from retail finance, it is also involved in corporate lending and real estate finance. Since 2016, Piramal Enterprises and Bain Capital Credit have been operating a partnership called India Resurgence Fund (IndiaRF), an

investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages in ...

for financially distressed Indian companies. Piramal Capital Fund (PCF), a partnership between Piramal Enterprises and CDPQ that was started in 2020, provides corporate financing services. Both IndiaRF and PCF are managed by Piramal Alternatives, an

asset management company An asset management company (AMC) is an asset management / investment management company/firm that invests the pooled funds of retail investors in securities in line with the stated investment objectives. For a fee, the company/firm provides more ...

set up by Piramal Enterprises in 2021.

Piramal Pharma

Piramal Pharma Limited is active in business verticals including pharmaceuticals, healthcare and life sciences. Its business divisions include Piramal Pharma Solutions, a contract development and manufacturing organization; Piramal Critical Care, a manufacturer of

inhalational anesthetic An inhalational anesthetic is a chemical compound possessing general anesthetic properties that can be delivered via inhalation. They are administered through a face mask, laryngeal mask airway or tracheal tube connected to an anesthetic vapo ...

s and other hospital generics; and Piramal Consumer Products Division, an

over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...

consumer healthcare products business. Piramal Pharma Limited was demerged from Piramal Enterprises in 2022. Piramal Pharma's subsidiaries include Hemmo Pharmaceuticals and Convergence Chemicals. It also has a joint venture with

Allergan Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. ...

in the

ophthalmology Ophthalmology ( ) is a surgical subspecialty within medicine that deals with the diagnosis and treatment of eye disorders. An ophthalmologist is a physician who undergoes subspecialty training in medical and surgical eye care. Following a medic ...

products segment.

Piramal Realty

Piramal Realty is a fully owned real estate venture of Piramal Group. The company is planning to develop about 30 million square feet through land acquisitions from its own sources. The group developed a mall in, Cross Roads, at South Mumbai.

Piramal Foundation

The Piramal Foundation is a private

philanthropic Philanthropy is a form of altruism that consists of "private initiatives, for the public good, focusing on quality of life". Philanthropy contrasts with business initiatives, which are private initiatives for private good, focusing on material ...

foundation established in 2006. Piramal Foundation has undertaken projects like Piramal Swasthya (a health information help line service called Arogya Vani in the state of Karnataka), Sarvajal (provides clean water in India through solar powered water ATMs), source for change (rural BPO for rural youth in Bagar, Rajasthan), Pratham (delivers education to under privileged children), Piramal foundation for education leadership (Piramal Fellowship and Principal Leadership Development program (PLDP) are the two programs undertaken) and Piramal Prize (recognizes emerging ventures and established organizations).

References

External links

* {{Nifty 200 companies Health care companies of India Holding companies of India Real estate companies of India Companies based in Mumbai Indian companies established in 1984 Conglomerate companies established in 1984 Holding companies established in 1984 Real estate companies established in 1984 Warburg Pincus companies Piramal Group 1984 establishments in Maharashtra