5 lesser-known facts about Mukesh Ambani's future son-in-law

The RIL chief had encouraged his daughter Isha Ambani's friend Anand Piramal to become an entrepreneur.

 |  3-minute read |   07-05-2018
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Anand Piramal, who is going to marry Isha Ambani, the daughter of India's richest man Mukesh Ambani, is a familiar name. He has founded the real estate business of the Piramal group, a global business conglomerate valued at US$10 billion.

While details of how the 33-year-old proposed his long-time friend Isha Ambani for marriage at a Mahabaleshwar temple are widely known and discussed, here are some lesser-known facts about the Piramal scion.

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MBA from Harvard Business School

According to the website of the Piramal Group, Anand majored in Economics from the University of Pennsylvania and in Business Administration from Harvard Business School.

Existential crisis: Consulting or entrepreneurship

According to reports, Anand went through an indecisive period in 2010, as he was not sure whether he should follow in the footsteps of his sister and become a McKinsey consultant, or join his father’s business, or chart his own course.

During this time, his father, Ajay Piramal, the chairman of the Piramal group, sold the lion’s share of the pharma business to Abott. While the group operates in various sectors, including pharma, financial services, information services and glass packaging, Pharma was Piramal group’s flagship business.

So, joining his father’s business was no longer an easy option for him. Also, his startup initiatives met with little success, which intensified his dilemma.

He had founded a rural healthcare startup and a telemedicine startup, both of which had to be adopted by the parent group (Piramal Group) as CSR initiatives.

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Mukesh Ambani’s words changed his life

“Being an entrepreneur is like playing cricket and being a consultant like watching it as a commentator,” Mukesh Ambani advised Anand. “In the long run, if you want to play the game, grab the opportunity without wasting time and try to achieve all your goals by the time you are 30. Play the game, make mistakes, but pad up,” he had said to Anand.

These words changed Anand’s life and he finally decided to take the plunge and set up his real estate business, establishing Piramal Realty in 2012.

Credited with a blockbuster realty deal

According to his company's website, Anand played a significant role in the acquisition of prime land parcels in Mumbai. In 2015, he raised $434 million from Goldman Sachs and Warburg Pincus for the growth of the company. This is one of the largest private equity investments in real estate in India.

Recognition

In 2018, Anand was awarded the Hurun Real Estate Unicorn of the Year 2017 by Hurun India and Young Business Leader award by Hello! magazine.

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