Online investment platform Groww paid out substantial one-time performance incentives to its four co-founders in FY25, sharply boosting their remuneration as the company prepares for its initial public offering.
CEO Lalit Keshre led with total pay of Rs 188.64 crore, including a Rs 185.66 crore incentive. COO Harsh Jain received Rs 149.58 crore, of which Rs 146.65 crore came from incentives. CFO Ishan Bansal earned Rs 136.96 crore, including Rs 133.97 crore in incentives, while CTO Neeraj Singh drew Rs 151.32 crore, with Rs 148.3 crore linked to incentives.
The four founders collectively received Rs 614 crore, surpassing Groww’s Rs 378.36 crore net profit in the June 2025 quarter. The firm reported a full-year profit of Rs 1,824.37 crore in FY25, reversing a Rs 804.94 crore loss in FY24.
The company has not disclosed the rationale behind these payouts, and the mail sent to it remained unanswered.
Chairman and Independent Director Gaurang Shah was paid Rs 33 lakh, comprising Rs 26 lakh as remuneration and Rs 7 lakh as sitting fees and reimbursements.
In FY24, Groww booked Rs 778.6 crore in one-time management incentives and Rs 106.17 crore accrued under its long-term incentive plan, driving up employee benefit expenses and contributing directly to the annual loss.
In FY25, no such incentives were granted or expensed, and the company’s Cost to Operate declined due to the absence of such payouts. By contrast, its Adjusted Cost to Operate rose in the June 2025 quarter as Groww advanced its annual appraisal cycle to April from July, bringing forward performance-based incentives for employees, the company said in its DRHP.
About Groww
Groww is an online investment platform offering equities, mutual funds, derivatives, and wealth products. The upcoming IPO comprises a Rs 1,060 crore fresh issue plus an Offer for Sale, with a possible Rs 212 crore pre-IPO placement.
The investment platform holds nearly 26% share of new demat additions and 45% of net new NSE active users in FY25.
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