Tata Consultancy Services CEO and Managing Director N Chandrasekaran saw his salary package growing by about 14 per cent to Rs21.28 crore in 2014-15, making him one of the highest paid executives in the Indian IT services industry. The head of India’s largest software services firm had taken home a package of Rs18.68 crore in 2013-14 financial year.
According to the company’s annual report, Chandrasekaran received Rs1.79 crore in salary, Rs2.62 crore in value of perquisites, Rs16 crore in commission and Rs86.61 lakh under other heads and allowances. Besides, he holds 88,528 shares in the Tata group firm. TCS CFO Rajesh Gopinathan took home a package of Rs2.14 crore in 2014-15. Among chiefs of other IT companies, Infosys CEO Vishal Sikka, who joined the country’s second largest IT services firm in August last year, received a pay package of Rs4.56 crore for eight months.
The Bangalore-based firm had announced that his annual package will be $5.08 million (Rs30 crore) in annual salary besides a stock option of $2 million. T K Kurien -- CEO of India’s third-largest software services firm Wipro -- received over 33 per cent hike to USD 1.46 million (about Rs9.3 crore) in 2014-15. Chandrasekaran was elevated to the CEO and MD position in October, 2009. Under his leadership, TCS’ revenues have increased from Rs30,029 crore in 2009-10 to Rs94,648 crore in 2014-15 at a compounded annual growth rate (CAGR) of 26 per cent.
