Parekh, the No. 9 pick in the 2024 NHL Draft, signed his entry-level contract with the Calgary Flames on July 5, 2024. He climbed to No. 5 among North American skaters in NHL Central Scouting's final rankings from No. 10 at midterm and led Ontario Hockey League defensemen and set Saginaw records for goals (33) and points (96) by a defenseman in 66 regular-season games. He had 11 points (two goals, nine assists) in 13 OHL playoff games, and five points (one goal, four assists) in five games to help Saginaw win the Memorial Cup.

The Nobleton, Ontario, native was named the 2024 top defenseman in the Canadian Hockey League. His 96 points were third-most by a 17-year-old defenseman in the league, behind Bruce Cassidy (111 points, 1982-83) and John Slaney (97 points, 1989-90). His 36 goals were second to Slaney (38, 1989-90) among defensemen his age, and his 21 goals in 2022-23 were the most by a 16-year-old OHL defenseman in league history.

Parekh had 13 points (five goals, eight assists) for bronze-medal-winning Canada at the 2026 IIHF World Junior Championship, setting a record for the most by a Canada-born defenseman in the history of the tournament, surpassing Alex Pietrangelo (2010) and Bryan McCabe (1995).