Mr. Deepak Parekh (73) spearheads India’s premier housing finance company HDFC Ltd., which has turned the dream of owning a home into a reality for millions across the country.
Mr. Parekh’s astute business acumen and farsightedness has not only made HDFC the leader in mortgages, but has also transformed it into India’s leading financial services conglomerate with presence in banking, asset management, life insurance, general insurance, real estate venture fund, education loans and education.
Deepak Parekh Chairman HDFC
Mr. Deepak S. Parekh (DIN: 00009078) is the Chairman HDFC and its key subsidiaries. Mr. Parekh joined the Corporation in a senior management position
in 1978. He was inducted as a whole-time director in 1985 and subsequently appointed as the Managing Director of the Corporation (designated as
‘Chairman’) in 1993.
He retired as the Managing Director on December 31, 2009. He was appointed as a NonExecutive Director of the Corporation with effect from January 1, 2010. He is also the Chairman of the Corporate Social Responsibility Committee of Directors.
Mr Parekh is also the chairman of
- HDFC Asset Management,
- HDFC Standard Life Insurance Co and
- HDFC Ergo General Insurance Co.
The Government of India honoured Mr. Parekh with one of the highest civilian awards, the Padma Bhushan in 2006. Mr. Parekh is on the board of several leading corporations across diverse sectors. He is the non-executive chairman in India of Siemens Ltd, Glaxo Smithkline Pharmaceuticals Ltd and BAE Systems India (Services) Pvt Ltd.
He is also on the boards of Indian Hotels Company Ltd and Bangalore International Airport Limited (BIAL). Mr Parekh is on the international boards of DP World – UAE, Vedanta Resources plc and Fairfax Financial Holdings Corporation – Canada.
He is on the Indian advisory boards of Coca Cola India, Boston Consultancy Group and Accenture India. He is also on the international advisory boards of Standard Life Asia, Nomura Holdings Inc, Lafarge International, Warburg Pincus LLC.
Associated International Organizations
Some of the international organizations which Mr. Parekh is associated with in an advisory capacity, include Indo US CEO Forum, City of London – Finance Committee, Indo – German Chamber of Commerce (IGCC), India-UK Financial Partnership(IUKFP).
The Mayor of London in 2017 named Mr Deepak Parekh as first of a network of international ambassadors for championing London across the globe.
In addition to being known for his vociferous views seeking standardization and transparency in the real estate sector, Mr. Parekh played a key role as Special Director on the Satyam Board in 2009 to revive the company and a crucial role during the restructuring of UTI in the late 90’s, which helped regain investors’ confidence.
Mr. Parekh has always been willing to share his ideas and experiences to formulate reform policies across sectors. Mr. Parekh has been a member of various high-powered economic groups, advisory committees and task forces which include infrastructure, housing, financial services and capital markets.
A man with a mission, Mr. Parekh’s philosophy on Corporate Social Responsibility is simple yet profound. He believes that if a company earns, it must also return to society and that companies owe a responsibility not just to shareholders, but to all stakeholders.
Government and Industry impressed by Mr. Parekh’s performance and sobriety, have honored him with several awards.
Some of the most important ones are; ‘Bundesverdienstkreuz’ Germany’s Cross of the Order of Merit one of the highest distinction by the Federal Republic of Germany in 2014, “Knight in the Order of the Legion of Honour” one of the highest distinctions by the French Republic in 2010, First international recipient of the Outstanding Achievement Award by Institute of Chartered Accountants in England and Wales, in 2010 .
Net Worth and Salary
- Total Remuneration – Rs 2,47,00,000 [Paid in FY20]
Deepak Parekh Awards
Mr. Parekh has been honoured with several awards and accolades viz.
- Padma Bhushan, one of the highest civilian awards by Government of India in 2006;
- Bundesverdienstkreuz Germany’s Cross of the Order of Merit, one of the highest distinction by the Federal Republic of Germany in 2014;
- Knight in the Order of the Legion of Honour, one of the highest distinctions by the French Republic in 2010;
- first of a network of international ambassadors for championing London across the globe by the Mayor of London in 2017;
- first international recipient of the Outstanding Achievement
- Award by Institute of Chartered Accountants in England and Wales in 2010 and
- Lifetime Achievement Award at th CNBC TV18’s 15 India Business Leader Awards, 2020.
Parekh Key Skills and Competencies
Mr. Parekh is a Fellow of The Institute of Chartered Accountants in England and Wales. He is an expert in finance, accountancy, audit, treasury, mergers &
acquisitions, corporate governance and risk management. He has vast experience in housing finance, real estate and the infrastructure sector.
Directorships in Other Listed Companies
- Siemens Limited – Non-Executive Chairman (Independent Director).
- HDFC Asset Management Company Limited and
- HDFC Life Insurance Company Limited – Non-Executive Chairman.