In 1988, he bought Nicholas Laboratories, an Australian multinational corporation. The company, which then competed with the likes of Pfizer and Glaxo, is now ranked fifth among the top 10 pharma companies in India, having made a string of overseas acquisitions like the Indian subsidiaries of Roche, Boehringer Mannheim, Rhone Poulenc, ICI and Hoechst Research Centre. India`s first major shopping mall, Crossroads was developed from three redundant Piramal factory buildings in Mumbai.