Top 10 Highest-Paid CEOs in India 2026

India’s CEO pay reports are public documents. Every listed company prints them once a year in its annual report.

And this year, the numbers soared. Swiggy CEO Sriharsha Majety reported total remuneration of about ₹551 crore for FY26, and Persistent Systems CEO Sandeep Kalra reported ₹388.58 crore. Eight leaders on this list crossed the ₹100 crore mark.

So what’s fueling it? Mostly equity. Stock options and restricted stock units that vested over the past few years are being exercised at higher share prices, and companies report that value as pay in the year it’s exercised. Profit-linked commissions, common at promoter-led companies, make up much of the rest.

We ranked leaders by total remuneration for FY26 (April 2025 to March 2026), as disclosed in annual reports or reported by business publications citing them. All figures are in ₹ crore unless stated otherwise, and stock options are included only where the source includes them. This guide looks at the top 10 highest-paid CEOs in India for 2026, how much they earned, and what their companies delivered in the same year.

Why CEO Pay Hit Record Levels in 2026

Pay Is Tied to Share Price and Profit

Most senior executive packages in 2026 are largely variable and linked to share price or profit. When the share price or profit goes up, the leader earns more. When they fall, so does the commission or the value of the options.

Stock Options Land in a Single Year

Exercised stock options are counted in the year they are exercised, even if they were granted three or four years earlier. That’s why one year’s number can look much higher than a leader’s regular annual pay.

A Global Market for Talent

IT services, consumer internet and engineering companies compete globally for experienced leaders. Several CEOs on this list run companies that earn most of their revenue in the US and Europe, and their pay is benchmarked against that market.

Pay Ratios Keep It in the Spotlight

Companies must also disclose the ratio of the CEO’s pay to the median employee’s pay. These ratios now run into the hundreds, which keeps the highest-paid CEOs in India under scrutiny from shareholders and proxy advisers.

Top 10 Highest-Paid CEOs in India at a Glance

Top 10 Highest-Paid CEOs in India (2026)

Here are the highest-paid CEOs in India, ranked by FY26 total remuneration.

1. Sriharsha Majety

Sriharsha Majety is the co-founder and Group CEO of Swiggy, the Bengaluru-headquartered food delivery and quick commerce company. He founded Swiggy with Nandan Reddy and Rahul Jaimini in 2013, and the company listed on the stock exchanges after its IPO in November 2024. Majety still owns shares in the company he built.

His FY26 remuneration came to about ₹551 crore and was driven by the exercise of employee stock options, according to reports citing Swiggy’s annual report. Inc42 put the ESOP gains at ₹549.3 crore, with ₹1.4 crore in fixed pay and a performance incentive of ₹45 lakh. Swiggy’s revenue from operations grew 51% to ₹23,053 crore in FY26, while its net loss widened to ₹4,154 crore as it invested in expanding Instamart. The food delivery segment posted more than ₹1,000 crore in adjusted EBITDA during the year.

Key Highlights
✔ FY26 pay of about ₹551 crore, mostly from exercised ESOPs
✔ Fixed pay of ₹1.4 crore
✔ Swiggy FY26 revenue of ₹23,053 crore, up 51%
✔ Food delivery adjusted EBITDA above ₹1,000 crore

Known for: Building Swiggy from a 2013 startup into a listed food delivery and quick commerce company.

2. Sandeep Kalra

Sandeep Kalra is the Executive Director and CEO of Persistent Systems, the Pune-based IT services company founded in 1990. He leads a mid-sized technology services firm that has grown quickly on the back of software engineering work for global clients.

Kalra’s FY26 remuneration came to ₹388.58 crore, up about 162% from the year before. According to Business Today, it was driven largely by long-term stock option realizations and perquisites. Persistent’s revenue grew to $1,654.4 million in FY26, up 17.4% year on year, and the company declared a full-year dividend of ₹40 per share. In the fourth quarter, net profit rose 34% to ₹529 crore.

Key Highlights
✔ FY26 pay of ₹388.58 crore, up about 162%
✔ Highest-paid IT services CEO in India for FY26
✔ Persistent FY26 revenue of $1,654.4 million, up 17.4%
✔ Q4 FY26 net profit up 34% to ₹529 crore

Known for: Leading Persistent’s double-digit revenue growth in IT services.

3. C. Vijayakumar

C. Vijayakumar is the CEO and Managing Director of HCLTech, the Noida-headquartered IT services company founded in 1991. He has led the company since 2016, and HCLTech had 223,889 employees as of June 2026.

His FY26 remuneration was $18.13 million, or about ₹175 crore, up 67% from the previous year, according to HCLTech’s annual report. That included a base salary of $2.48 million, a performance bonus of $2 million, a long-term incentive cash payout of $3.94 million and $9.40 million from exercised restricted stock units. HCLTech’s FY26 revenue grew 11.18% to ₹130,144 crore, while net profit declined 4.30% to ₹16,642 crore.

Key Highlights
✔ FY26 pay of $18.13 million (about ₹175 crore), up 67%
✔ $9.40 million from exercised RSUs
✔ HCLTech FY26 revenue of ₹130,144 crore
✔ CEO since 2016

Known for: Steering HCLTech through nearly a decade of growth as one of India’s largest IT exporters.

4. N. Chandrasekaran

N. Chandrasekaran is the Chairman of Tata Sons, the holding company of the Tata Group. He took charge on 21 February 2017, after a long career at Tata Consultancy Services, which he joined in 1987 and led as CEO from 2009. He is the group’s top executive, so his pay is included here even though his title is Chairman.

He earned ₹158.66 crore in FY26, up from ₹155.81 crore in FY25, according to Tata Sons’ annual report. That included ₹17.97 crore in salary and benefits and a profit-linked commission of ₹140.69 crore, unchanged from FY25. It’s the highest pay he has received since Tata Sons began disclosing these figures, and no stock options are involved. His current five-year term as Chairman runs until February 2027.

Key Highlights
✔ FY26 pay of ₹158.66 crore
✔ Profit-linked commission of ₹140.69 crore
✔ No stock options in the package
✔ Tata Sons Chairman since February 2017

Known for: Leading the Tata Group as the first professional executive to chair Tata Sons.

5. Pawan Munjal

Pawan Munjal is the Executive Chairman of Hero MotoCorp, the New Delhi-headquartered two-wheeler maker founded in 1984. He has led the company for decades. Harshavardhan Chitale became CEO in January 2026, while Munjal continues as Executive Chairman.

Munjal’s FY26 remuneration was ₹122.31 crore, up 11.79% from the prior year, Autocar Professional reported, citing company disclosures. His pay was about 789 times the median employee’s pay. Hero MotoCorp reported record FY26 revenue of ₹46,830 crore, up 14.9%, and profit rose 14.3% to ₹5,268 crore. Retail sales reached 60.83 lakh units.

Key Highlights
✔ FY26 pay of ₹122.31 crore, up 11.79%
✔ Record Hero MotoCorp revenue of ₹46,830 crore
✔ FY26 profit of ₹5,268 crore, up 14.3%
✔ 60.83 lakh retail units sold in FY26

Known for: Building Hero MotoCorp into one of the world’s largest two-wheeler makers.

6. S. N. Subrahmanyan

S. N. Subrahmanyan is the Chairman and Managing Director of Larsen & Toubro, the Mumbai-based engineering and construction group founded in 1938. He became Chairman on 1 October 2023, succeeding A. M. Naik.

His FY26 pay was ₹120.84 crore, a 59% jump from ₹76.25 crore in FY25, according to People Matters, citing CNBC-TV18. The increase came largely from commissions and gains on exercised employee stock options. L&T closed FY26 with a record order book of ₹7.4 lakh crore. Fourth-quarter revenue grew 11% to ₹82,762 crore, and the board recommended a final dividend of ₹38 per share.

Key Highlights
✔ FY26 pay of ₹120.84 crore, up 59%
✔ Record order book of ₹7.4 lakh crore
✔ Q4 FY26 revenue of ₹82,762 crore, up 11%
✔ Chairman and MD since October 2023

Known for: Running one of India’s biggest engineering and construction groups.

7. Nitin Rakesh

Nitin Rakesh is the CEO and Managing Director of Mphasis, the Bengaluru-headquartered IT services company in which Blackstone holds a large stake. He became CEO of Mphasis in January 2017, after earlier leadership roles at Syntel and Motilal Oswal Asset Management.

His FY26 remuneration was ₹104.7 crore, according to Business Today’s review of IT sector pay for the year. Mphasis reported FY26 consolidated revenue from operations of ₹15,879.6 crore. In July 2026, the company proposed reappointing him for five years from 1 October 2026 and asked shareholders to raise his pay cap from 5% to 7% of net profit, to make room for equity incentives exercised in the same year.

Key Highlights
✔ FY26 pay of ₹104.7 crore
✔ Mphasis FY26 revenue of ₹15,879.6 crore
✔ Proposed five-year reappointment from October 2026
✔ CEO since January 2017

Known for: Leading Mphasis as CEO since 2017.

8. Murali K. Divi

Dr. Murali K. Divi is the founder and Managing Director of Divi’s Laboratories, the Hyderabad-headquartered maker of active pharmaceutical ingredients, intermediates and nutraceutical ingredients. The company was incorporated in 1990 and also provides custom synthesis services.

He earned ₹100.26 crore in FY26, making him the highest-paid executive in Indian pharma, according to an analysis of annual reports. Of that, ₹99.9 crore was profit-linked commission and ₹0.36 crore was perquisites and allowances. There were no stock options. Divi’s reported FY26 consolidated total income of ₹11,067 crore and profit after tax of ₹2,568 crore, up from ₹2,191 crore a year earlier.

Key Highlights
✔ FY26 pay of ₹100.26 crore
✔ ₹99.9 crore from profit-linked commission
✔ Divi’s FY26 PAT of ₹2,568 crore
✔ Highest-paid pharma executive in FY26

Known for: Building Divi’s Laboratories into a major API supplier from Hyderabad.

9. Salil Parekh

Salil Parekh is the CEO and Managing Director of Infosys, the Bengaluru-headquartered IT services giant. He leads Infosys’ push into cloud, digital and AI services for global clients.

His FY26 remuneration was ₹82.6 crore, up about 2.4% from ₹80.6 crore in FY25, according to Infosys’ annual report. The package included a fixed salary of ₹8.5 crore, variable pay of ₹23.35 crore and ₹50.75 crore from exercised stock units. His pay was 742 times the median employee’s pay. Infosys revenue crossed $20 billion in FY26, growing 3.1% in constant currency.

Key Highlights
✔ FY26 pay of ₹82.6 crore, up about 2.4%
✔ ₹50.75 crore from exercised stock units
✔ Infosys revenue above $20 billion in FY26
✔ Pay ratio of 742 times the median employee

Known for: Leading Infosys past the $20 billion revenue mark.

10. Neeraj Kanwar

Neeraj Kanwar is the Vice Chairman and Managing Director of Apollo Tyres, the Gurugram-headquartered tire maker incorporated in 1972. The company sells under the Apollo and Vredestein brands and has manufacturing plants in India, the Netherlands and Hungary.

His FY26 remuneration was ₹78.41 crore, according to Financial Express data based on Capitaline and annual reports, as cited by InsideIIM. Apollo Tyres’ consolidated revenue rose 9% to ₹28,471 crore, and net profit rose to ₹1,372 crore from ₹1,121 crore. Fourth-quarter net profit jumped to ₹631 crore, and the board declared a total dividend of ₹6 per share for the year.

Key Highlights
✔ FY26 pay of ₹78.41 crore
✔ Apollo Tyres FY26 revenue of ₹28,471 crore, up 9%
✔ FY26 net profit of ₹1,372 crore
✔ Plants in India, the Netherlands and Hungary

Known for: Taking Apollo Tyres global with the Vredestein brand in Europe.

How to Read CEO Pay Disclosures

Look at the Mix of Pay

A big headline number made up mostly of exercised options means the leader was rewarded for years of share price growth. A large fixed salary or commission tells a different story.

Check the Fiscal Year

Pay figures are disclosed months after the fiscal year ends. A 2026 list of the highest-paid CEOs in India should use FY26 data where it’s available, because mixing FY25 and FY26 figures can distort a ranking.

Compare Pay With Company Results

If a CEO’s pay rises 60% while profit falls, it’s worth asking why. A package that tracks profit growth is easier to justify.

Read the Median-Pay Ratio

Every listed company reports how many times the median employee’s pay the CEO earned. It’s one of the simplest ways to see how pay is spread within a company.

Frequently Asked Questions About the Highest-Paid CEOs in India

Who is the highest-paid CEO in India in 2026?

Based on FY26 disclosures, Swiggy’s Sriharsha Majety tops the list at about ₹551 crore, mostly from exercised stock options. Among IT CEOs, Persistent Systems’ Sandeep Kalra leads at ₹388.58 crore.

Why are some CEO pay packages so high in FY26?

Most of the jump comes from stock options and restricted stock units that vested over several years and were exercised in FY26. Companies report that value as pay in the year of exercise.

Are these figures the CEO’s cash salary?

No. The totals include salary, bonuses, commissions, perquisites and, where reported, the value of exercised stock options. Fixed salary is usually a small part of the total.

Is there one best-paid sector?

Not really. IT services has the most names on the list, but consumer internet, engineering, autos, pharma and tires are all represented. Pay depends on company size, profit and how much of the package is in equity.

Conclusion

The 2026 list of the highest-paid CEOs in India shows one clear trend: equity now drives the biggest paychecks. Swiggy, Persistent, HCLTech, L&T and Infosys all saw stock-linked payouts push their leaders’ totals higher.

At the same time, firms such as Tata Sons and Divi’s continue to reward leaders mainly through profit-linked commissions. Whichever model you prefer, the annual report remains the best place to check what India’s top executives actually earned.

Also Read: Top 10 Business Tycoons in World