At Tata Group, top executives given pay hikes of up to 62%: Report
Senior executives of Tata Group, which operates 30 companies across 10 verticals, have received pay hikes in the range of 16-62%, according to a report.
Among its companies, Indian Hotels Company Limited (IHCL), Tata Power, Trent Limited, and Tata Consumer led the list of ‘generous paymasters’ this year, the Economic Times (ET) report said.
Who received how much hike?
According to the report, P Venkatesalu, the Trent Limited CEO, took home ₹5.12 crore this year, which represents a rise of 62%. Puneet Chhatwal, his counterpart at Indian Hotels, earned an annual salary of ₹18.23 crore, marking an increase of 37%. Sunil D’Souza and Pradeep Bakshi, who hold the same positions at Tata Consumer and Voltas, respectively, received yearly pays of ₹9.5 crore and ₹3.8 crore, respectively, constituting a rise of 24% and 22%, in that order.
R Mukunduan, CEO, Tata Chemicals, and Praveer Sinha, CEO, Tata Power, on the other hand, each saw an increase of 16% to their respective annual salaries, as they took home ₹8 crore and ₹9 crore. Even Rajesh Gopinathan, the now former CEO at Tata Consultancy Services (TCS), earned a remuneration of ₹29.1 crore, the report showed.
Tata Group
Formed in 1868 by Jamsetji Tata, the Mumbai-headquartered group is India’s largest conglomerate and runs businesses in more than 100 countries across 6 continents. In 2021-2022, the collective revenue of Tata companies stood at $128 billion (approx. ₹9.6 trillion).
More than 935,000 people are working across the 30 Tata Group firms.
