Highest paid CEOs Of India
The current state of corporate leadership in India in FY25 is characterized by a significant increase in top-end pay in terms of executive compensation packages for some CEOs that justify in terms of size and alignment with shareholders. Based on data from FY25 regarding compensations, CEO Sandeep Kalra of Persistent Systems is the highest-paid CEO in India with a total remuneration of ₹148.1 crore.
The figures, which include base salary, bonuses, and ESOPs, underline how performance-linked incentives and long-term equity rewards continue to dominate compensation structures at the top of India Inc.
Technology and Financial Services Dominate the Top Tier
Kalra’s remuneration positions him significantly ahead of others, emphasizing the importance of leadership in rapidly growing technology service organizations. The second positions are occupied by Hero MotoCorp Chairman and CEO, Pawan Munjal, who draws an FY25 remuneration of ₹109.4 crores, and Bajaj Finance Vice Chairman, Rajiv Jain, who gets ₹102.1 crores.
The presence of technology services, financial services, and platform-led businesses at the top of the list reflects where value creation and executive reward, is most concentrated in the current cycle.
Full List of India’s Highest-Paid CEOs (FY25)
- Sandeep Kalra, Persistent: ₹148.1 crore
- Pawan Munjal, Hero: ₹109.4 crore
- Rajiv Jain, Bajaj Finance: ₹102.1 crore
- C. Vijayakumar, HCLTech: ₹94.6 crore
- L. N. Reddy Obul, Swiggy: ₹90.0 crore
- Murali K. Divi, Divi’s: ₹88.2 crore
- Salil Parekh, Infosys: ₹80.6 crore
- Sriharsha Majety, Swiggy: ₹76.3 crore
- S. N. Subrahmanyan, Larsen & Toubro: ₹76.3 crore
- Vinay Prakash, Adani Enterprises: ₹69.3 crore
Equity-Linked Pay Continues to Shape CEO Remuneration
One of the notable aspects of the compensation data in FY25 is the prominence of ESOPs and variable incentives, which applies in particular to the CEOs of companies that are led by technology and are platform companies.
The presence of two Swiggy executives in the list also underscores the extent to which massive, privately-held digital businesses have entered the competition ring when it comes to compensation packages, in line with the likes of conglomerates and IT giants.
What This Signals for India Inc?
The FY25 list establishes that there is a paradigm shift in the compensation landscape in India, which is driven by growth, equity, and visibility. The best companies in the list today are predominantly driven by technology, finance, and consumer internet companies, with manufacturing and infrastructure companies falling under the legacy category.
As companies are expected to bank increasingly on performance-based compensation packages for holding on to their best talent, CEO compensation trends are expected to remain firmly connected to value creation for years to come rather than being just compensation packages.
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