Highest-Earned CEOs of India's Leading Corporations
In the financial year 2025 (FY25), the IT sector took a back seat in the race for top CEO pay among Nifty50 companies, with infrastructure, automobile, and finance sectors emerging as the top pay masters.
Infrastructure Sector Leads the Pack
The infrastructure sector saw some significant pay hikes, with Larsen & Toubro's (L&T) CEO SN Subrahmanyan being the highest-paid CEO in the sector. Subrahmanyan earned an impressive ₹76.3 crore in FY25, marking a substantial increase from ₹51.1 crore in the previous year [1][5].
Other top earners in the infrastructure sector include C Vijayakumar of HCL Tech, who earned ₹93 crore [4].
Automobile Sector Shines
In the automobile sector, Hero MotoCorp's CEO Pawan Munjal and Bajaj Auto's CEO Rajiv Bajaj were among the top earners. Munjal took home over ₹100 crore with a 44% bonus increase, while Rajiv Bajaj earned ₹58.6 crore, up 9% from FY24 [5].
Finance Sector Remains a High-Paying Sector
The finance sector continued to be a high-paying sector, with Bajaj Finance's CEO Rajeev Jain earning over ₹100 crore. Jain's pay rise included a bonus over ₹39 crore and significant stock awards [5].
IT Sector Faces Pay Cuts
Conversely, the IT sector witnessed considerable pay cuts in FY25. Notable pay cuts were observed at firms like Wipro and Tech Mahindra. For example, Tech Mahindra's CEO Mohit Joshi earned ₹53.9 crore, lower than some top infrastructure and auto CEOs [1][3][5]. Infosys's CEO Salil Parekh earned ₹82 crore, which, while high, was overshadowed by top pay in other sectors [4].
Summary of Top Paid MD/CEOs by Sector (FY25, approximate figures):
| Sector | Company | CEO / MD Name | CEO Pay (₹ Crore) | Notes | |--------------|------------------|----------------------|------------------|---------------------------------------| | Infrastructure | Larsen & Toubro | SN Subrahmanyan | 76.3 | Highest paid in infrastructure | | Automobile | Hero MotoCorp | Pawan Munjal | >100 | Over ₹100 crore with bonus increase | | Automobile | Bajaj Auto | Rajiv Bajaj | 58.6 | 9% increase | | Finance | Bajaj Finance | Rajeev Jain | >100 | Bonus ₹39+ crore, big stock awards | | IT | Infosys | Salil Parekh | 82 | High pay but less than infrastructure/auto leaders | | IT | Tech Mahindra | Mohit Joshi | 53.9 | Pay cut relative to prior years | | IT | Wipro | Srinivas Pallia | ~53.6 | Sharp pay cuts contributed to sector drop |
In conclusion, the infrastructure, automobile, and finance sectors had the highest CEO remuneration among Nifty50 companies in FY25, surpassing the IT sector which faced notable pay reductions [1][4][5]. The top paid CEOs included SN Subrahmanyan (L&T), Pawan Munjal (Hero MotoCorp), Rajeev Jain (Bajaj Finance), and Rajiv Bajaj (Bajaj Auto).
[1] The Economic Times [2] Business Standard [3] Moneycontrol [4] The Hindu BusinessLine [5] The Times of India
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