Deepak Parekh (71), Chairman of HDFC, 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. His 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, Real Estate, Education Loans and Education.
Deepak is on the board of several leading corporations across diverse sectors. He is the Non-Executive Chairman in India of BAE Systems India (Services) Pvt. Ltd., GlaxoSmithKline Pharmaceuticals and Siemens. He is also on the boards of Fairfax Financial Holdings Corporation, Indian Hotels Company Ltd, Mahindra & Mahindra Ltd, Network18 Media and Investments Ltd. and international boards of DP World–UAE and Vedanta Resources plc, besides being on the board of HDFC Group Companies. He is also on the Advisory Board of several Indian companies and MNCs.
In addition to being known for his vociferous views seeking standardisation and transparency in the real estate sector, Deepak is dubbed as the unofficial crisis consultant of the Government-be it his role of reviving Satyam (2009) and getting UTI from the mess (late ‘90s). Deepak has always been willing to share his ideas and experience to formulate reform policies across sectors. This, at times, has also meant advising the Government to take hard decisions. It is his quality as a trouble-shooter that has made him a guiding force and an active member of various high-powered Economic Groups, Government-appointed Advisory Committees and Task Forces.
Some of the international organisations that Deepak is associated with in an advisory capacity include the Indo-US CEO Forum, City of London, Indo–German Chamber of Commerce (IGCC),etc.
Deepak’s philosophy on Corporate Social Responsibility is simple, yet profound. He believes that companies owe a responsibility not just to shareholders, but also to all its stakeholders.
Government and Industry, impressed by Deepak’s performance, have honoured him with several awards. Some of the most important ones are; the Padma Bhushan in 2006. Internationally, some of his recent prominent awards include, ‘Bundesverdienstkreuz’, Germany’s Cross of the Order of Merit, one of the highest distinction granted by the Federal Republic of Germany in 2014, “Knight in the Order of the Legion of Honour” is one of the highest distinctions given by the French Republic in 2010, and Deepak is also the first international recipient of the Outstanding Achievement Award by Institute of Chartered Accountants in England and Wales, in 2010.