India Inc's ₹10 crore-plus salary club swells in FY23
Financial Express Mumbai|September 05, 2023
Nifty50 firms' CEOs were, however, not as lucky
RAJESH KURUP & KISHOR KADAM

IT SEEMS TO be raining money at quite a few corner offices of India Inc, with the number of CEOs with ₹10 crore-plus salary package increasing significantly in FY23.

A total of 201 CEOs in 1,291 companies, which have revealed the figures so far, have got salaries of over 10 crore. The corresponding number for 2,703 companies was 233 in FY22.

The chief executives of some of the larger Indian companies were however not as lucky, with their salaries going down significantly. For example, JSW Group chairman Sajjan Jindal got a total salary of 51.36 crore in FY23 compared to FY22's 134.8 crore. HCL Tech CEO C Vijayakumar's salary dropped as much as 80%. The salaries of Anand Mahindra and A M Naik dropped 80% (in M&M and Tech Mahindra combined) and 56% (L&T and LTI Mindtree together), respectively.

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