Jehan Daruvala Family Business Explained: Ownership, Net Worth and Why the Racer Stepped Into Corporate Life

Indian racing driver Jehan Daruvala recently revealed that the last 18 months have taken him away from full-time racing, as he stepped into responsibilities within his family business while completing a business management program.

In a social media update, Daruvala reflected on the transition from track to boardroom, calling it a new challenge that tested him in unexpected ways.

"The last 18 months have taken me off the track temporarily - but not away from the race... Stepping into my family business has been a whole new challenge, one that's pushed me to grow in ways I didn't expect," he wrote.

His statement has drawn renewed interest in the Daruvala family's business empire and its role in supporting his motorsport journey.

What is Jehan Daruvala family business?

Jehan Daruvala comes from a business family closely associated with Sterling & Wilson Renewable Energy Limited (SWRE), a major global solar engineering company headquartered in Mumbai.

The company operates as an Engineering, Procurement and Construction (EPC) solutions provider in the renewable energy sector, particularly large-scale solar power projects.

Key company facts:

• Headquarters: Mumbai, India
• Global presence: Operations in 28 countries
• Core business: Solar EPC solutions
• Major solar projects completed globally: 268+
• Sector: Renewable energy and infrastructure
• Incorporated as renewable entity: 2017

Sterling & Wilson Renewable Energy traces its roots to a partnership between Shapoorji Mistry Sr. and Mehervan Daruvala, which later became part of the Shapoorji Pallonji Group in 1971.

Today, the company is considered one of the major Indian-origin renewable energy players operating globally.

Who owns Sterling & Wilson Renewable Energy today?

Ownership of the company has evolved significantly in recent years.

Current major stakeholders (as of 2025):

• Reliance Industries Limited - 32.5% stake (controlling shareholder)
• Shapoorji Pallonji Group - approximately 6.9% stake
• Public and institutional shareholders - remaining shares

Reliance Industries became the controlling shareholder after acquiring a major stake in 2022, marking a major shift in the company's ownership structure.

This transition also strengthened the company's position within India's rapidly expanding renewable energy sector.

Who leads the company now? Chairman, CEO and leadership structure

The Daruvala family remains deeply linked to the company's leadership.

Key leadership figures:

• Chairman: Khurshed Yazdi Daruvala
• Global CEO: Chandra Kishore Thakur (appointed March 2025)
• Headquarters: Mumbai

Khurshed Daruvala, Jehan's father, has been a prominent figure in the company and is widely recognized as a senior business leader within the Sterling & Wilson ecosystem.

Under its leadership, the company expanded internationally and entered the renewable solar EPC market in 2011 before formally separating into its renewable-focused entity in 2017.

Who is Jehan Daruvala's father?

Jehan Daruvala's father, Khurshed Daruvala, is a senior business executive and one of the key figures associated with Sterling & Wilson.

Family background details:

• Father: Khurshed Daruvala
• Mother: Kainaz Daruvala
• Family background: Parsi business family based in Mumbai
• Profession: Business leader in engineering and infrastructure sectors

Khurshed Daruvala is also known to have played a major role in supporting Jehan's early motorsport career - a path that requires significant financial backing.

Interestingly, he has maintained a personal interest in motorsport and has previously explored karting himself, which influenced Jehan's early exposure to racing.

What is the company's financial strength and net worth?

Sterling & Wilson Renewable Energy has remained a significant player in India's renewable infrastructure ecosystem.

Latest available financial highlights (2024):

• Revenue: ₹3,121 crore
• Net operating income: ₹3,035 crore
• Assets: ₹1,493 crore
• Net worth: ₹969 crore
• Profit (2024): -₹212 crore (loss)

The company has also been featured in major corporate rankings:

• Fortune India 500 Ranking (2025): #378
• Previously ranked as high as #178 (2019)

While profitability fluctuates due to project cycles, its global footprint continues to make it a notable infrastructure player.

How wealthy is the Daruvala family?

Precise individual net worth figures for the Daruvala family are not publicly disclosed in detail. However, their association with large-scale infrastructure and renewable energy businesses places them within India's upper-tier industrial families.

It is also widely understood that motorsport - especially junior single-seater racing in Europe - requires multi-million-dollar backing across several years. Financial support from the family business played a key role in enabling Jehan Daruvala's rise through international racing categories.

Why Jehan Daruvala stepping into business matters

Daruvala's recent update signals a shift that many athletes from business families eventually face - balancing sporting ambition with corporate responsibility.

His decision to work within the family enterprise while studying business management suggests long-term planning beyond racing.

However, his message also made it clear that motorsport remains central to his identity.

"Racing is still a part of me... I still carry everything the sport has taught me - discipline, resilience, and the constant push to improve," he wrote.

Jehan Daruvala's journey reflects a unique intersection of elite motorsport and major industrial business.

While the past 18 months have seen him step deeper into corporate responsibilities, his continued connection to racing suggests this may be a temporary transition rather than a permanent shift away from motorsport.

For now, his path appears to combine both worlds - carrying lessons from the racetrack into the boardroom, while keeping the possibility of a racing return alive.