Shri. H. T. Parekh

105 Years of A Visionery

"His vision is the Foundation of millions a dreams"

Born on March 10, 1911, in a banking family at Surat, Mr. Hasmukh Thakordas Parekh, fondly referred to as “Hasmukhbhai”, was the doyen of the Indian housing and financial sectors.

He has to his credit many splendoured achievements. He blazed a path across the financial sector concentrating on development banking and capital markets authoring many books. A graduate in Economics from mumbai, Mr. Parekh also pursued a B.Sc. degree in Banking & Finance from the London School of Economics. In 1956, Mr. Parekh joined the newly set up development finance institution Industrial Credit & Investment Corporation of India Ltd. (ICICI) as it’s Deputy General Manager. Mr. Parekh rose to become its Chairman in 1972. By the time he moved on in 1978, ICICI had more than fulfilled its ambitious goal and became a financial landmark of India.

His lifelong dream of helping Indians own their home, led to the formation of the Housing Development Finance Corporation Limited (HDFC) in 1977. It was the first of its kind in the Country and nurtured a passion to do something for the millions who slept on the pavements of our cities.

He was truly ‘a man who saw tomorrow’. A simple man, Mr. H. T. Parekh avoided the limelight and lived in a typical middle-class home all his life. He believed in the little pleasures of life, in friendship, in reading and writing. He received the Padma Bhushan from the President of India, Mr. R. Venkatraman, in 1992.

The thoughts and dreams of a legend life Mr. H. T. Parekh live on forever, changing lives for the better .....

Shri. Deepak Parekh

Chairman of HDFC

Mr. Deepak Parekh 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.

Mr. Parekh 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, Glaxo Smithkline 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 HDFC Group Companies. He is also on the Advisory Board of several Indian corporate and MNC's.

In addition to being known for his vociferous views seeking standardization and transparency in the real estate sector, Mr. Parekh 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). Mr. Parekh 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 of 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 organizations which Mr. Parekh is associated with in an advisory capacity, include Indo US CEO Forum, City of London, Indo – German Chamber of Commerce (IGCC),etc.

Mr. Parekh'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 Mr. Parekh's performance and sobriety, have honored 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 by the Federal Republic of Germany in 2014, “Knight in the Order of the Legion of Honour” one of the highest distinction 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.