Quotes from Ajay Piramal

When we exited the textiles business, we paid our bankers and labourers. We must have been the only company to do that.

We never thought about getting into banking, as it is not an attractive business as perceived generally. This was also not a consideration when we decided to invest in Shriram Group.

Buying a house is not an overnight decision, and people can wait for 3 to 6 months.

The role of a trustee is to ensure beneficiaries get the best returns, without the trustee benefitting.

We take dispassionate view of our investments. Does it mean that we are looking out to monetise the investment? That is not correct. But if we get an offer that we cannot refuse, as I say, then it is not that we are not, that we will still hold on to the investment.

Life looked bleak when I became chairman of the group at the age of 29. But I survived, as the Lord must have carried me when I needed Him the most.

You cannot have the financial system crippled because of lack of decision making and lack of quality people.

Don't hoard your wealth. Instead, live the life you want with the wealth you have been blessed with, but also make it beneficial for the good of the larger community.

In a crisis, you separate the men from the boys.

Our risk systems and processes - we keep investing and improving them.

We are a very systems- and process- driven business which reports directly to the board, whether it is risk or legal.

I have always said that you have to fail. If you do not fail, it means you have never taken enough risks.

Innovation means taking risks, and that is where the private sector can play a role.

In life, there are always intense battles, and yet we must practise the lessons from the Gita.

Our philosophy always teaches us that you can have intense activity, but inside, you have to have peace. The office has to reflect that.

In any technology, one has to be very careful to ensure that it is good and has enough safeguards.

Share your prosperity.

Many people say that in a liberalised world there is little for the government to do, but the fact is that there is much for the government to do in fewer areas. One such area is to provide infrastructure.

When we look at our business, we are not that concerned about short term valuations.

In any merger, when you have large organisations coming together, there will be challenges in terms of culture.

We have been successful in buying and selling companies because we have a reputation of fulfilling deal terms in letter and spirit.

There is nothing similar between the pharmaceutical and textile business.

Manufacturing is finite, but human intellect is infinite. Textile is all about manufacturing, and industries like pharmaceuticals are all about human intellect.

Textile mills are not a very high-margin business and have fixed overheads, so it was challenging. But I think it is only in challenges that you get opportunities.