Infosys CEO and MD Salil Parekhs pay in FY25 increased 21.6 per cent to Rs 80.62 crore according to the companys annual report. Parekh drew a salary of Rs 66.25 crore in the previous fiscal.

The Infosys Annual Report showed that Parekh who took over the helm of Infosys in January 2018 earned Rs 7.45 crore in base salary Rs 0.49 crore as retiral benefits Rs 23.18 crore in bonus/incentives/variable pay and Rs 49.5 crore in perquisites on account of stock options exercised in FY25.

The perquisite value of stock incentives is on account of the exercise of 306276 Restricted Stock Units (RSUs) granted to Parekh.

Parekhs industry counterparts Wipro CEO Srinivas Pallia and TCS CEO K Krithivasan earned a salary of USD 6.2 million (about Rs 53.64 crore) and Rs 26.52 crore respectively in FY25.

The salary hike comes at a time when the company laid off hundreds of trainees from its Mysore campus cut variable pay and there is uncertainty in the IT sector. However Parekh said in his letter to shareholders that Infosys remains a global leader in AI cloud data and digital solutions.

He said that in FY25 the company employed 15000 college graduates and by the end of the year the number of employees increased to more than 3.2 lakh. Apart from this this year they were also given ESOPs worth about Rs 50 crore which includes ESG and performance-based equity incentives.

Meanwhile Infosys on April 17 reported profit of Rs 26713 crore in FY25 registering a marginal increase of 1.8 per cent over FY24. Revenues climbed 6.06 per cent to reach Rs 162990 crore exceeded its guidance of 4.5-5 per cent for the full FY25.

(With Inputs From PTI)