Former HDFC Chairman Deepak Parekh on Tuesday described the 2026 assembly election results as an 'eye-opener' and noted that BJP's win was widely anticipated.
However, he added that the outcome in Tamil Nadu came as a surprise.
Parekh said that many observers, particularly in Kolkata, had expected a major political swing, though he believed MK Stalin would retain a slight edge in Tamil Nadu.
The 2026 elections saw major shifts with Vijay's TVK emerging as the largest party, but fell short of majority.
In West Bengal, BJP secured a landslide victory, ending Mamata Banerjee-led TMC's long-standing rule decisively.
ALSO READ: Tamil Nadu Government Formation Live: Short Of Majority, Vijay's TVK Seeks Governor's Appointment
Deepak Parekh On Middle East War Impact On BFSI
Commenting on global developments, Parekh also addressed concerns surrounding the ongoing West Asia conflict.
He stated that the banking, financial services, and insurance (BFSI) sector is unlikely to face significant direct impact, as its exposure to the region remains limited.
However, he acknowledged that sectors such as crude oil, aviation, and hospitality could feel the pressure due to rising geopolitical tensions and inflationary risks.
ALSO READ: BJP Victory Could Restore Industry Confidence In Bengal, Says Sanjiv Goenka
Speaking at the second edition of the CII BFSI Summit 2026, Parekh highlighted evolving trends in commercial real estate.
He noted that IT firms, global capability centres, insurance companies, and data centres are increasingly preferring to lease large office spaces rather than purchase them outright.
This shift, he explained, is creating a growing role for Real Estate Investment Trusts (REITs), which he described as an attractive savings option for individual and institutional investors alike.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
