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Meet Indian man whose salary increased around 14% to over Rs 70 crore, doesn't work for Narayana Murthy’s Infosys, TCS, Reliance, is CEO of...
Companies like Tata Consultancy Services (TCS), Wipro, and Infosys reported weak earnings this quarter, but many leaders still saw their salaries rise.
Updated : Apr 20, 2025, 11:23 AM IST
 "Cognizant CEO Ravi Kumar")
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Even as India’s IT sector faces a tough year, top executives at major IT companies have received large pay hikes in the financial year 2024. Companies like Tata Consultancy Services (TCS), Wipro, and Infosys reported weak earnings this quarter, but many leaders still saw their salaries rise.
According to a report by The Times of India, Cognizant CEO Ravi Kumar received a 14% increase in his pay, taking his total compensation to $8.2 million (over Rs 70 crore) in FY24, up from $7.2 million last year. This was revealed in the company’s 2025 proxy filing with the US Securities and Exchange Commission (SEC).
Earlier, The Economic Times reported that several Indian IT firms had increased executive salaries in FY24, despite challenges in the sector due to reduced tech spending and an overall economic crunch.
Infosys CEO Salil Parekh saw a salary hike of over 16%, bringing his total pay to Rs 66 crore in FY24, according to the company’s latest annual report. Meanwhile, LTIMindtree’s CEO and MD, Debashis Chatterjee, got a 10% raise, with his pay reaching Rs 19.34 crore. Amit Chadha, CEO and MD of L&T Technology Services, received the biggest jump—his compensation more than doubled from Rs 7.3 crore in FY23 to Rs 15.4 crore in FY24.
At the same time, Infosys and US-based Cognizant are locked in a legal dispute. Since August last year, Cognizant has accused Infosys of stealing trade secrets related to TriZetto, its healthcare division. Infosys has denied the charges and hit back with its own allegations.
Infosys claims Cognizant used its monopoly in the healthcare software space to suppress competition. It also alleges that Ravi Kumar, now CEO of Cognizant and a former Infosys executive, delayed the launch of Infosys’ healthcare platform, Helix, during his tenure there and later poached key employees after joining Cognizant in January 2023.
