Perizaad was born in a Zorashtrian family on October 23, 1973. Her family runs a poultry farm. Her name means 'Fairy's daughter'. Her family roots trace back to Iran. She made her first appearance as a model for Clearisil, & a music video titled 'Nahin Raktha Dil Mein Kuch', then she re-located to New York, in the United States of America to study and obtain a degree in MBA. While there, she took part in theatrical plays with Lee Strasberg.
After obtaining her MBA she returned home to assist her dad at their poultry farm, and also appeared in a TV play called 'Hum Pardesi Ho Gaye', where she played the character of a woman named Maya.
'Bollywood Calling' was her debut on the tinsel screen during the year 2001, thereafter this attractive young Parsi went on to act in 11 more movies, including the Hollywood flick 'Exitz' where she portrays the character of an Indian model. She has also acted the role of former Indian Prime Minister Indira Gandhi in a Chinese movie 'Bandung Sonata'.
On December 9, 2006 Perizaad got married to Boman Rustom Irani, who is a Board Director of Rustomjee Builders. She continues to accept offers and appears in movies.