New Delhi: Infosys CEO Salil Parekh's annual pay has increased by 43 percent, and touched Rs 71 crore in FY 2021-22, according to the annual report of the Bengaluru-based IT company. This pay hike makes him one of the highest-paid executives in India.
According to Infosys, Mr Parekh is being rewarded with a significant pay raise as a result of the company's industry-leading growth in recent years, in which he has played a key role. Mr Parekh has more than 30 years of experience in the global IT services industry, and his present term with Infosys would last for five years, ending in March 2027.
Here's a list of other highest-paid chief executives in India:
1) Mukesh Ambani (Reliance Industries)
Mukesh Ambani is the owner of Reliance Industries and holds about 44 percent stake in the company. He has kept his annual salary from his flagship firm capped at Rs 15 crore per annum in 2020, according to a Business Standard report.
2) CP Gurnani (Tech Mahindra)
CP Gurnani is the CEO and MD of Tech Mahindra. According to an Economic Times report, he earned Rs 28.57 crores in the fiscal year 2020.
3) SN Subrahmanyan (Larsen & Toubro)
S N Subrahmanyan, the CEO and managing director of Larsen & Toubro took home Rs 27.17 crore in 2019-20, after taking a 43.91 percent voluntary pay cut amid the COVID-19 pandemic, reported Economic Times.
4) Rajesh Gopinathan (Tata Consultancy Services)
Rajesh Gopinathan was appointed CEO of Tata Consultancy Services in February 2017 after N Chandrasekaran was elevated to the role of Tata Sons chairman. Until then, he served as the company's CFO since 2013. As per Livemint, his compensation jumped by 26 percent to Rs 25.7 crore during the financial year 2021-22.
5) Pawan Munjal (Hero Motocorp)
Pawan Munjal is the Chairman, Managing Director and CEO of Hero Motocorp. He took home Rs 84.59 crore as salary in FY 2020, a Livemint report said.
6) Rajiv Bajaj (Bajaj Auto)
The CEO and MD of Bajaj Auto received an annual salary of Rs 39.86 crore in FY 2020, reported Livemint. He has been the MD of the company since 2005.
7) Sunil Mittal (Bharti Enterprises)
Sunil Mittal is the founder and chairperson of Bharti Enterprises. He received a salary of Rs 30.1 crore in FY 2020. Bharti Enterprises has a diversified interest, including in telecom, insurance and real estate, stated an Economic Times report.
8) Siddhartha Lal (Eicher Motors Ltd)
Siddhartha Lal, the Eicher Motors boss, received a pay raise of 50 percent in FY20 to Rs 19.21 crore from Rs 12.81 crore in FY19, Moneycontrol reported.
9) Sanjiv Puri (ITC Ltd)
Sanjiv Puri has been the Chairman and Managing Director of ITC Ltd since May 2019. Before that, he served as the Managing Director, CEO, and COO of the company. His annual remuneration jumped 47.23 percent to Rs 10.10 crore in 2020-21, reported Business Today.
10) N Chandrasekaran (Tata Sons)
The Tata Sons chairman received a pay package of Rs 58 crore for fiscal 2020, according to the Times Of India report. In FY19, N Chandrasekaran's salary was Rs 66 crore.