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Deepak Parekh
Born 18 October 1944 · Maharashtra
Led Housing Development Finance Corporation to become India's largest private housing finance institution.
🔔 Add birthday reminderDeepak Parekh is an Indian businessman and the former chairman of Housing Development Finance Corporation, India's leading housing private development finance institution. It is based in Mumbai.
✨ A detail that surprised us
Despite his towering influence, as of 2022, Deepak Parekh holds only a 0.04% stake in HDFC Bank, reflecting his self-described mindset of an entrepreneur who works like a salaried employee.
1. 🌍 In 1965, Deepak Parekh left Mumbai for London to qualify as a Chartered Accountant with ICAEW, completing his articleship at Whinney, Smith and Whinney, a firm that later became Ernst & Young, before moving to New York to work at the firm's consulting arm.
2. In 1978, he joined Housing Development Finance Corporation (HDFC), founded by his uncle Hasmukhbhai Parekh, leaving behind a lucrative banking career to help build India’s first specialized housing finance institution.
3. 💼 By 1997, Parekh became Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a pioneering institution financing India’s infrastructure projects, expanding his influence beyond housing finance.
4. From 2009, he played a crucial role as Special Director on the Satyam Board during its crisis, aiding in the company’s revival and helping regain investor confidence after the scandal.
5. 🏆 In 2010, Parekh was the first international recipient of the Outstanding Achievement Award by the Institute of Chartered Accountants in England and Wales, recognizing decades of influence on finance and accountancy.
6. He has been a board member of over 19 companies, including Glaxo India, Castrol India, Mahindra & Mahindra, and Indian Hotels Company, showing an extraordinary range of corporate governance roles across sectors.
7. 🏅 Awarded the Padma Bhushan in 2006 and Germany’s Bundesverdienstkreuz in 2014, Parekh's career bridges Indian and global recognition for financial leadership and policy advisory.
8. ❓ How did Deepak Parekh’s decision to earn 50% less salary at HDFC in 1978 fuel the transformation of India’s housing finance landscape and shape his identity as an entrepreneur with a salaried mindset?
Awards & Honours
- 🏅Padma Bhushan
🔍 One thing most people don't know
In 1978, Parekh left a high-paying banking job to join HDFC at half the salary, driven by a vision to make housing finance accessible in India.
🖼️ Through the Years
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📅 The Journey
🗝️ Discoveries
🎥 Speeches & Recordings
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YouTube📖 Curated Sources
🌱 What changed because of them
Deepak Parekh transformed India's housing finance sector by expanding HDFC from a small lending firm into a diversified financial powerhouse, enabling millions to own homes. His leadership extended to infrastructure financing through IDFC and corporate governance across multiple sectors. His advisory roles in government committees influenced regulatory reforms in securities markets and power sectors, shaping modern financial policies in India.
💬 Social Buzz
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