Parkhe Group began in 1930 with the Bharat Envelopes Company, a cottage industry operating from Pune under the guidance of his mother Maisaheb and with the assistance of his younger brother Gopalrao.

[4] [5] Parkhe's first large venture was Paper & Pulp Conversions Pvt Ltd (PAPCO), a board mill started in Lower Parel, Bombay in 1942.

In 1951, PAPCO started its second unit in Khopoli, Maharashtra, which made paper, and, eventually paperboards; it was the flagship company of the group.

Analysts also attribute that the floods of the Patalganga river at Khopoli on Pune-Bombay highway where the PAPCO project was located since 1953, was the fatal blow for the business.

[17] Agnihotra is an ancient Vedic fire ritual that was resuscitated by Param Sadguru Shree Gajanan Maharaj of Akkalkot and prescribed for the well-being of entire humankind and nature.

Parkhe was an ardent follower of Shree, and has written books and papers,[18] delivered lectures, and traveled worldwide propagating Agnihotra and research on remnants of ancient fire worship in different civilisations.

This was considered to be a landmark event: after many years, a Mahasomayag was conducted exactly as prescribed by the Vedas, without any animal sacrifice—not even symbolic oblations—in a totally non-violent and pious manner.

He wrote several books and papers on diverse subjects including industry,[21] social and religious issues, Vedic literature, etc.