Mortgage-lending pioneer Deepak Parekh, 78, will ride into professional sunset with the satisfaction of having built a powerhouse that would be the fourth biggest bank in the world when Housing Development Finance Corp (HDFC) merges with the lender it spawned three decades ago.
“It is my time to hang my boots with both anticipation and hope for the future," Parekh wrote to HDFC shareholders for the last time as chairman. "While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity."