Not Tata Steel, Tata Power CFO, but THIS is Highest-paid CFO of Tata Group, who earned Rs 21090000 salary in FY25

The TATA group companies' Chief Financial Officers earn high salaries across all firms. The TATA Group releases an annual report revealing the rise in the salaries of all Chief executives, from TATA steels to TATA motors. The highest-paid CFO in the Tata Group in FY25 among all the chief finance executives was PB Balaji, Group CFO of Tata Motors. PB Balaji, an IIT-IIM graduate has surpassed all other CFO's in terms of increase in his pay. Let's take a look at other big names who earn hefty salaries in the TATA group.

PB Balaji - TATA Motors

PB Balaji earned a total salary of Rs 21.09 crore. According to the company’s annual report, his pay increased by 1.47% from the previous year. PB Balaji has graduated from the Indian Institute of Technology, Madras, and also has a post-graduate management degree from the Indian Institute of Management, Kolkata. Balaji is a member of the Executive Committee of TML. He has serves on the boards of various other Tata Group companies, including Air India, Titan, and Tata Consumer Products. Before his stint as CFO in Tata Motors, he assumed the role of Chief Financial Officer at Hindustan Unilever in 2014. He joined TATA Group in 2017.

Other CFOs earning high salaries

1. Koushik Chatterjee (Tata Steel)

Koushik Chatterjee is the Executive Director and CFO at Tata Steel. He  completed his undergraduate from University of Calcutta and is a Fellow Member of the Institute of Chartered Accountants of India. He joined Tata Steel in 1995. In FY25, he received Rs 13.99 crore in total remuneration. This included: 

• Rs 5.28 crore in salary and allowances
• Rs 2.33 crore in perquisites
• Rs 4.76 crore in commission and performance-linked incentives. 
• His remuneration saw a 2.86% increase over the last fiscal.

2. Sanjeev Churiwala (Tata Power)

Sanjeev Churiwala, TATA Power CFO, holds an Executive MBA degree from the London Business School. Additionally, he is a distinguished fellow member of The Institute of Chartered Accountants of India, the Institute of Company Secretaries of India, and the Institute of Cost Accountants of India. He earned a whopping Rs 7.08 crore in FY25, including 

• Rs 6.47 crore in salary and allowances
• Rs 27.91 lakh in perquisites
• Rs 33.29 lakh in retirement benefits.
• His remuneration saw a 3.29% increase compared to FY24.

3. Nandakumar S. Tirumalai: CFO, Tata Chemicals – He received a total remuneration of Rs 3.42 crore in FY25

Other CFOs of TATA Group

• Lalit Kasliwal: CFO of Tata International.
• Saurabh Agrawal: Group CFO of Tata Sons
• Eruch N. Kapadia: CFO of Tata Chemicals

Not all companies in Tata Group have disclosed full-year CFO compensation figures, like TCS and Tata Elxsi.