Deepak Parekh: The man for all seasons
HDFC's Parekh shows what a true leader is about ? vision and values
One of the most important qualities a leader must have is vision. Unless a leader has in sight the goal, is focused on it and then paves the way to reach it, little can be achieved not matter how much hard work is put into the attempt. With this definition, Deepak Parekh, chairman, Housing Development Finance Corporate Ltd (HDFC) makes for a perfect example. For, not only has Parekh steered the company into one of India’s top housing companies, it has brought to fruition the dream of lakhs of middle-class Indians of owning houses.
Both the company and Parekh have come a long way since he joined it in 1978 as deputy general manager. He was appointed as the managing director of the company in 1985 and made the chairman in 1993. So strong is Parekh’s connection with the organisation that he is heard to have said that it would be difficult for him to stay away from HDFC after his retirement.
Born in 1944, the chartered accountant has not only made the company grow in housing finance, but has also led the company’s foray into several other sectors such as asset management, banking, life insurance and general insurance, education finance company and real estate venture fund.
However, his passion is not limited to making businesses grow. A great believer in youth and leadership in them, Parekh is a board member of AIESEC, one of the world’s largest student organisations. The leader in Parekh also holds values such as integrity, transparency and trust in the highest regard – values that are questioned time and again, but have, in the end, worked best in any sphere of life.
Thanks to his leadership qualities, Parekh is on the board and advisory boards of several leading companies across sectors – Mahindra and Mahindra, Siemens India Ltd, GlaxoSmithKline Pharmaceuticals, Indian Hotels Company Ltd, Hindustan Unilever only being some of them.
His skills have also been recognised by the government and Parekh has been a member of several government committees such as RBI’s chairman of the advisory group for securities market regulation and chairman of the Expert Committee to look at reform road in the power sector. He also advises the government from time to time and his forecasts about the markets and economy carry a lot of weight. After all, who doesn’t want a capable leader showing the way?