Preserving & Growing Generational Wealth

— Interpreting it right since inception

Brescon Family Office is the Mumbai-based single-family office of Mr. Nirmal Gangwal, dedicated to preserving and multiplying wealth across generations through disciplined, patient, long-term investing.

25+ Years Experience
Multi Asset Classes
Long Term Focus

Our Legacy Get in Touch

Family Office Excellence

Holistic wealth management across equities, credit, real estate and alternatives — with full independence and aligned interests.

Listed Equities
Real Estate
Structured Credit
Alternatives

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Brescon Family Office

Brescon is the Mumbai-based single-family office of Mr. Nirmal Gangwal, investing across a wide range of asset classes, with a primary focus on listed equities. Our diversified portfolio also encompasses private equity, real estate, fixed income, structured credit, and alternative investments. While we place strong emphasis on opportunities within India, we also invest internationally, particularly in the US.

With over three decades of experience through our special situation advisory vertical, Brescon has developed a unique ability to find solutions in adversity by thoroughly evaluating businesses, their promoters, and management teams. This depth of expertise shapes our investment philosophy as we now focus on preserving and growing proprietary capital. Our investment thesis is centered around "interpreting it right" — we believe our edge lies in our ability to interpret situations differently and identify opportunities others may overlook.

Leveraging this vast experience and network, Brescon is committed to identifying high-potential companies through various strategies such as value investing, capitalizing on turnaround opportunities, and uncovering hidden gems. We also selectively engage in other promising ventures, themes, and ideas.

Our investment approach is deeply rooted in research, with a concentrated approach on bottom-up analysis. We focus on well-managed, financially disciplined companies that exhibit strong growth potential. Our priority is to invest in businesses that can be held for the long term, trade at reasonable valuations, and align with key macroeconomic trends. We place a high value on domain expertise and remain agile in discovering top-quality investments.

Our Heritage

Brescon Group, India's first and one of the largest independent investment banks, specialized in special situations and stressed assets advisory for over 30 years. Founded by Mr. Nirmal Gangwal, an industry veteran with over 43 years of experience, Brescon excelled in crafting financial solutions, liabilities management, recapitalization, debt resolution, financial restructuring, and divestments.

Key highlights during this illustrious career include:

Key highlights diagram showing Brescon's major achievements and milestones

Our success was built on the ability to deliver "win-win" solutions for all relevant stakeholders, leveraging deep connections within India's financing eco-system. Brescon pioneered innovative strategies for debt resolution including fund raising from special situation funds, private equity firms, asset sales to buyout funds, one-time-settlement including debt assignments.

Just a few years ago, we raised INR 35 Bn (~USD 0.5 Bn) from marquee investors for debt resolution in an innovation led Pharma & Biotech company, and a steel-&-engineering company. It's heartening to convey that the innovation led Pharma & Biotech Company is debt-free today having turned around its operations and the steel-&-engineering company has become a multi-bagger, going up by 16x!

Along with a commendable track record of creating value for all stakeholders and high success rate in transactions handled, our work ethic for prominent corporates and business houses from variety of industries such as infrastructure, steel, power transmission and distribution, textiles, real estate held our reputation in high regard.

Our approach and purpose of solving any problem:

Approach diagram illustrating Brescon's methodology for solving complex financial problems

Our 'WHY' was to make India a force to reckon with. Entrepreneurs take on enormous risks – setting up industries, creating jobs (generating employment), paying taxes to the government and driving economic growth to say the least. Yet, when adversity strikes, these entrepreneurs are often left without the support they need.

That's when Brescon stepped in.

Reflecting on our journey, we see that Brescon played a crucial role of a catalyst for entrepreneurs. We provided an unbiased perspective and deep insights into the complexities often hidden from plain sight. By illuminating the intricacies of the financial ecosystem, we guided entrepreneurs toward recognizing the opportunities that awaited if they remained steadfast. Our role extended beyond merely addressing financial challenges; we empowered entrepreneurs to navigate the emotional turbulence that accompanies adversity, offering them renewed hope and direction for their journey ahead.

We looked for finding opportunities in the face of adversity.

Testimonials

Ex-Chairman, SBI

Rajnish Kumar

My first encounter with Nirmal dates back to 2006 when SBI exited from a stressed but performing asset. His ideas on structuring transactions that holistically preserved the value of enterprise while reducing the burden on lenders were impressive.
IAS, Principal Secretary, Gujarat Government

Manjula Subramaniam

Exhilarating to work with an organization like yours and see the results unfold.
CMD, IPCA Laboratories

Mr. P C Godha

Nirmal proposed a breakthrough suggestion. The Bachchan family transferred a part of their equity in IPCA to our account and we took over their existing liabilities in ABCL. This helped us retain management control without substantial cash outflows.
Chairman, RPG Group

Harsh Goenka

Brescon has been advising the Group since 1998 and has been successful in their mandate. I have found them to be sincere and committed.
Jt. MD, Jayaswal Neco

Mr. Ramesh Jayaswal

I take this opportunity to express my appreciation for Brescon's timely assistance and efforts in arranging financial assistance from the investors to acquire debt from our lenders while preserving the value of the assets and retaining management control.
Chairman, VIP Industries

Dilip Piramal

Brescon's ability to deliver transactions within the stated objective speaks highly of their financial and operational expertise.
IAS, MD, Gujarat State Fertilizer Corporation

A. K. Luke

Was able to guide GSFC very skillfully through the Corporate Debt Restructuring process and guide it on to the path of success.
CEO, Motilal Oswal Private Equity Advisors

Vishal Tulsyan

The whole approach is a win-win for all stakeholders. We always look forward to interacting with your team.
Ex-DMD, IDBI

Jitender Balakrishna

They bring a high level of involvement along with an objective viewpoint in each case.
CMD, Garware Polyester

Shashikant Garware

Determined to come up with a solution. I like their thoroughness.
CMD, Gammon India

Abhijit Rajan

The team showed extraordinary commitment in navigating the process.
MD, Nitin Spinners

Dinesh Nolkha

They are very transparent and objective. It is a pleasure working with such an organization.
CMD, Pokarna Engineered Stone

Gautam Chand Jain

Brescon is an ultimate solution for financial restructuring.

Our Team

A seasoned team of investment professionals united by a shared philosophy of disciplined, long-term wealth creation.

Mr. Nirmal Gangwal

Chairman & Founder, Brescon Group

Nirmal Gangwal, a Chartered Accountant, Company Secretary, and Lawyer, is a pioneer in India's special situations advisory space. Coming from... Nirmal Gangwal, a Chartered Accountant, Company Secretary, and Lawyer, is a pioneer in India's special situations advisory space. Coming from a modest background in Rajasthan, he is known for his strategic thinking and ability to create value in challenging scenarios. He has been instrumental in structuring innovative financial solutions for businesses facing temporary disruptions and introduced the concept of a "Risk Return Matrix" to align risk with practical borrower needs. Nirmal played a key role in India's first Corporate Debt Restructuring (CDR) case under RBI and guided its first successful exit. He has advised leadership teams, including during Shri Narendra Modi's tenure as Chief Minister of Gujarat, on restructuring and turnaround of state-owned enterprises. Currently, through his family office, he focuses on long-term investments across public and private markets. He also contributes to social initiatives in education and healthcare through the Nirmal Foundation Trust.

Pooja Gangwal Sheth

Partner

With over 16 years of experience in management consulting, business strategy, merger integrations, people operations, and investment management, Pooja brings... With over 16 years of experience in management consulting, business strategy, merger integrations, people operations, and investment management, Pooja brings a wealth of knowledge and expertise to the family office. She has held leadership roles in internal business operations and human capital at Booz & Company India, a global management consulting firm, and has also worked with Deloitte Touche Tohmatsu India in human capital consulting. Pooja has deep experience in optimizing business operations, developing cost-saving strategies, and streamlining work processes. She has successfully led stakeholder management and cross-cultural teams across Asia, ANZ, the Middle East, and the US, particularly in post-merger integrations during acquisitions. She holds an MBA from NMIMS, is a Certified Business Coach and is an applied behavioral science specialist.

Harsh Deepesh Shah

With 5 years of experience in the special situation advisory space, Harsh has worked directly with Mr. Nirmal Gangwal, Chairman... With 5 years of experience in the special situation advisory space, Harsh has worked directly with Mr. Nirmal Gangwal, Chairman & Founder of Brescon Group. In his current role, he is responsible for overseeing the investment initiatives of Brescon Family Office. Before joining Brescon, Harsh taught Financial Modeling and Financial Statement Analysis at NMIMS. He began his career at PwC in the Transfer Pricing Department. Harsh is a qualified Chartered Accountant and has cleared all levels of the CFA (US) curriculum.

Investment Cases

Selected investment cases reflecting our long-term approach, business quality focus, and disciplined capital allocation philosophy.

Case 1: Textiles

The company is one of the world's leading manufacturers in the home textile industry, offering a comprehensive range of products, including bed and bath linen, rugs, and flooring solutions. It operates a vertically integrated supply chain with state-of-the-art manufacturing facilities in multiple locations. The company has a strong global distribution network, supplying products to over 50 countries....

Case 2: Textiles

The company operates globally in the design, development, sourcing, and distribution of ready-made garments and consumer products. Its business is segmented into several areas, including design-led sourcing, sourcing as a service, manufacturing, brand management, and venture investments. The company has a strong focus on fast fashion, catering to major global retailers and brands....

Case 3: Capital Goods

The company is an engineering-led manufacturer specializing in complex and critical precision-engineered components for both automotive and non-automotive sectors. It produces a wide range of precision-forged and machined components for vehicles, as well as precision components for aerospace, off-road, agriculture, and other industrial segments. The company is recognized....

Case 4: Capital Goods

The company is a global leader in providing agricultural, piping, and infrastructure solutions, specializing in micro-irrigation systems, plastic piping products, and agro processed goods. It is recognized as one of the world's largest producers in micro irrigation, polyethylene pipes, and tissue culture plants, with a significant presence in both domestic and international markets. The company operates....

Case 5: Capital Goods

The company is a leading player in construction and infrastructure development, with diversified operations across sectors such as water and wastewater, industrial construction, transportation, and power distribution. Its business is divided into two main segments: the construction business, which accounted for 72% of revenue in FY24, and the developer business, which includes projects....

Case 6: Capital Goods

The company is a major player in India's industrial and medical gas industry, with a strong focus on producing gases for sectors like steel, glass, and chemicals, along with healthcare products such as medical oxygen and nitrous oxide. It also provides turnkey solutions for the design and construction of air separation plants through its Project Engineering division. With operations spanning....

Case 7: Financials

The company is a diversified financial services provider, offering a broad range of services, including stock, commodity, and currency broking, institutional broking, margin trading facilities, depository services, and distribution of mutual funds. Additionally, it operates as a non-banking financial company (NBFC) and serves as a corporates agent for insurance companies. In Q4 FY24, the...

Case 8: IT Services

The company is a leading business services provider in India and operates across several key segments, including Workforce Management, Operating Asset Management, and Global Technology Solutions. With a headcount near 600,000 employees and associates, the company offers a wide range of services, such as staffing, HR solutions, facilities management, and digital transformation services...

Contact Us

We welcome thoughtful conversations with entrepreneurs, co-investors, advisors, and family offices who share our values.

Get in Touch

Brescon operates with discretion. All enquiries are treated with the highest level of confidentiality.

Our Office

Unit 85, 8th Floor, 3 North Avenue,
Maker Maxity, Bandra Kurla Complex,
Next to Jio World Drive,
Bandra (East),
Mumbai 400 051

Email

pooja@brescon.com

Office Hours

Mon–Fri: 9:00 AM – 6:00 PM IST

All communications are strictly confidential. Brescon does not share or sell any personal information provided through this form.

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