Infosys CEO Salil Parekh's salary increased 45 percent to Rs 49.68 crore in FY21, with more than half coming from exercise of the stock options. Parekh drew Rs 34.27 crore in FY20.
The remuneration includes Rs 30.99 crore on account of the exercising of 2.92 lakh restricted stock units under the 2015 Plan and 1 lakh under the 2019 Plan during FY21.
Chairman Nandan Nilekani voluntarily chose not to receive any remuneration for his services during the period. For the period, its COO Pravin Rao salary increased 63 percent to Rs 17.33 crore. Presidents Mohit Joshi and Ravi Kumar earned Rs 34.82 crore and Rs 25.54 crore, respectively in FY21.
TCS CEO Rajesh Gopinathan earned Rs 20.4 crore in FY21, up from Rs 13 crore last year. Last fiscal, the company executives made a decision to moderate their remuneration to conserve resources in FY20, which resulted in a 15 percent decline last year.
Wipro former CEO Abidali Neemuchwala, who resigned in January 2020, was paid Rs 34 crore. The annual package of Thierry Delaporte, CEO, Wipro, was Rs 37.9 crore (4.45 million euros) and also stock compensation and other benefits. He took charge on July 6, 2020.
Apart from the key executives, number of officials who earned Rs 1.02 crore annually, increased to 96 in FY21 from 74 last year.
India’s second largest IT services firm closed the year with a great business momentum and had guided for 12-14 percent for FY21.
Nilekani said that Infosys' investment in designing and developing right solutions, client focus and its own transformation of digital infrastructure helped in winning transformational deals.
"The proactive action that Infosys has taken, over the last three and a half years, has decisively enabled us to set the narrative for the global digital services and consulting industry. Infosys will continue to innovate and is well-placed to lead the industry in the coming years," he added.
“In this current business environment, the Company delivered exceptional results. Our clients have been expanding their work with us, especially in the areas of digital and cloud,” Parekh said in the FY21 annual report.
The company reported 5 percent growth in constant currency and 29 percent in digital. Total deal wins in FY21 stood at $14 billion, highest in its history.
“As I look ahead, I am more optimistic than ever of the enormous opportunity ahead of us. Technology, especially digital and cloud, continue to be at the center of change for large enterprises globally. We are among the best-positioned companies to partner with these enterprises and help them accelerate their digital journey to realize their objectives,” he added.
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