Meet Tata Sons’ second highest paid executive, only behind Chairman N Chandrasekaran, his salary is…

Tata Sons chairman N Chandrasekaran emerged as one of India’s highest paid chief executives in FY23 with a whopping remuneration of Rs 113 crore. Leading the crucial financial side of the business along with Chandra is Saurabh Agrawal. An IIT-IIM alumnus, Agrawal was the second highest paid executive at Tata Sons in FY2022-23 as an Executive Director and Group CFO (Chief Financial Officer) of Tata Sons.

Tata Sons is the holding company of the Tata Group with market value of listed investments at Rs 11,20,545.24 crore as on March 31, 2023, according to Tata Sons annual report for the year. It further mentioned the combined market capitalisation of the Tata group at Rs 20,71,467 crore. Agrawal, who handles the money side of the salt-to-software conglomerate, has been one of most important appointments of Tata boss N Chandrasekaran, who took over the reins from legendary industrialist Ratan Tata.

Who is Saurabh Agrawal?

Saurabh Agrawal is known in business circles as one of the top dealmakers. A veteran investment banker, he was behind the massive $23 billion merger of Vodafone and Idea, one of India’s top M&A deals.

Agrawal holds a chemical engineering degree from the prestigious Indian Institute of Technology (IIT), Roorkee. He is also an alumnus of theIndian Institute of Management (IIM), Calcutta. Tata Sons roped Agrawal as Group CFO in 2017.

He has worked for some of the biggest corporations before joining Tata group. Agrawal’s previous roles include head of corporate strategy at Aditya Birla group, regional head of corporate finance (South Asia) at Standard Chartered Bank and leading investment banking division at DSP Merrill Lynch. Agrawal also served as an advisor for Tata Consultancy Services (TCS) IPO in 2014.

Details of Saurabh Agrawal’s remuneration

Saurabh Agrawal received total remuneration of Rs 27.82 crore in FY23. This included Rs 5.56 crore in Gross Salary, Rs 22 crore in Commission, and Rs 26 lakh as Others. Agrawal will take home Rs 1.82 crore more than his annual compensation of Rs 26 crore last year. He had earlier seen a 21 percent rise in his compensation in FY22 compared to Rs 21.45 crore in FY21.