HCLTech: C Vijaykumar becomes highest-paid Indian CEO, gets this much money in FY 2023-24

HCL Tech CEO C Vijaykumar has become the highest-paid Indian CEO. According to the company's annual report released on July 22, Vijaykumar's remuneration for FY 2024 was around Rs 84.16 crore, an increase of 190.75 percent year-on-year.

According to the company's annual report, Vijaykumar was paid a basic salary of around $1.96 million (Rs 16.39 crore), a performance-line bonus of $1.14 million (Rs 9.53 crore), and a long-term incentive (LTI) cash component of around $2.36 million (Rs 19.74 crore).

In addition, the perquisite value of $4.56 million (Rs 38.15 crore) was paid under the LTI - RSU (restricted stock units) head, and the remaining $0.04 million was paid as benefits, perquisites, and allowances. This totals $10.06 million. According to the report, Vijaykumar's remuneration was 707.46 times the average salary of HCLTech employees.

In a letter to shareholders, C Vijaykumar revealed that the company's total revenue grew 13.7% year on year in constant currency, with the service business registering a 15.8% year-on-year growth. He added, "Our revenues crossed the ₹100,000 crore milestone and our employee base reached the 225,000 mark (including an intake of 25,000+ entry-level employees), while our service portfolio comprising digital, engineering, cloud, AI, and software, along with our strategic alliances, all punched in equal weight. Our workplaces are also evolving. We continue to believe in a virtual-first, hybrid workplace model, with flexibility for employees to use office space and leverage remote working as required. Our approach has been balanced and measured, led by proactive dialogues with our people and customers to evolve a 'right-time-andright-place' model."