Pawan Munjal Archives

A few CEOs in India earn more in a year than most companies’ annual revenue. Sounds like an exaggeration, right? Until you look at the actual numbers. Take Gunender Kapur, CEO of Vishal Mega Mart–he earns ₹598.5 crore in total compensation, making him the highest-paid CEO in India, but almost 92% of it (₹582 crore) came from ESOPs alone. Besides Kapur, there's C. Vijayakumar of HCLTech, whose salary jumped 71% to a ₹154 crore package, and Sandeep Kalra of Persistent Systems, who made ₹148 crore mostly from exercised stock options. These aren't rare exceptions—this is simply what pay looks like at the top of corporate India right now. So, who else made it to the list of the highest-paid CEOs? Here's the full ranked list of the 25 highest-paid CEOs in India for 2026, with salary and ESOPs breakdown for each. Complete List of Highest Paid CEOs in India with Annual Compensation Based on annual pay, we have sorted the 25 highest-paid business leaders (CEO) in India at the current time. Let’s have a look. 1- Gunender Kapur First among the highest paid CEOs in India, Gunender Kapur currently serves as the Investor CEO of Vishal Mega Mart. It is a large capital company in the Consumer Cyclical sector with a market cap of ₹55K Cr (as of June 2026). Gunender is a visionary leader with 38 years of experience, spanning across Reliance and Unilever. Total compensation of Gunender Kapur is ₹598.5 Crore (Cash: ₹16.3 Cr, ESOP: ₹582.2 Cr). 2- C. Vijayakumar Among others, C. Vijayakumar is one of the highest paid CEOs in India; he also serves as Managing Director of HCL Technologies. It is a Mega Cap company in the Technology sector with a market cap of ₹369K Cr. He is a transactional leader with 35 years of experience who is known for data-driven decision-making and an aggressive acquisition strategy. HCLTech's board approved a 71% salary hike for Vijayakumar to approximately ₹154 crore ($18.60 million), effective April 1, 2025, as his approved compensation for FY26, though the company's FY26 annual report (which would confirm the actual payout) has not yet been published. 3- Sandeep Kalra Sandeep Kalra is an Executive Director and Chief Executive Officer (CEO) of Persistent Systems, where he oversees overall strategy, AI & digital engineering growth, and global operations. He joined Persistent Systems in May 2019 as President of the Technology Services unit, having previously served at HARMAN International and HCL. He held multiple leadership roles before being elevated to the position of CEO in October 2020, making him one of the highest paid CEOs in India. According to the Fiscal year 2025 reports, Sandeep Kalra received total compensation of ₹148.09 Crore, of which approximately 90% was from stock options exercised during the year, with the remainder comprising salary and performance-linked pay. MSN 5- Pawan Munjal Pawan Munjal is a prominent global business leader, known as the CEO and Managing Director of Hero MotoCorp. Under his leadership, the company has expanded its presence, strengthened its product portfolio, and accelerated its transition toward sustainable, technology-driven mobility solutions. Beyond business, he is actively involved in philanthropy, sports promotion, and cultural initiatives across education, healthcare, and community development, which makes him one of the highest-paid CEOs in India. As of fiscal Year 2025, Pawan Munjal received total compensation of ₹109.41 Crore. 6- Rajeev Jain Rajeev Jain is the Managing Director of Bajaj Finance, a Mega Cap company in the Financial Services sector. With 30 years of experience, he is known for data-driven decision-making and an organic builder strategy. Rajeev holds a BCom (Bachelor of Commerce) from American College, Madurai, and a PGDM from T.A. Pai Management Institute (TAPMI), Manipal. According to the 2025 fiscal year report, Rajeev Jain received total compensation of ₹102.10 Crore. The table below shows the other 20 highest-paid CEOs in India. NameCompanySalarySalil ParekhInfosys₹82.60 Crore FY26*Sriharsha Majety Swiggy₹ 76.6 Crore FY25 S. N. Subrahmanyan Larsen & Toubro₹76.25 Crore FY25Vinay PrakashAdani Enterprises₹69.34 Crore FY25 Mohit JoshiTech Mahindra₹67.55 Crore FY26*Jaidev R. ShroffUPL₹66.4 Crore FY25Rajiv BajajBajaj Auto₹58.58 Crore FY25Supam MaheshwariFirstCry (Brainbees Solutions Ltd.)₹58.1 Crore FY25Rajiv KaulCMS Info Systems₹57.2 Crore FY25Atul B. Lall Dixon Technologies (India) Ltd.₹57.0 Crore FY25Nitin RakeshMphasis ₹52.7 Crore FY25Arvind PoddarBalkrishna Inds ₹47.5 Crore FY25Anish ShahMahindra & Mahindra₹47.3 Crore FY25A. Indra KumarAvanti Feeds₹46.9 Crore FY25Arvind KapilPoonawalla Fin ₹45.7 Crore FY25Angan Guha Birlasoft Ltd. ₹44.3 Crore FY25Manish TandonZensar Tech. ₹41.0 Crore FY25Sudhir Singh Coforge₹36.12 Crore FY25K. KrithivasanTata Consultancy ₹28 Crore FY26*Rohit Jawa Hindustan Unilever Ltd. ₹23.23 Crore FY25 Note: Compensation figures vary in composition; some include ESOPs and perquisites; others reflect cash salary only. Figures are not directly comparable across companies. Beyond the Top 25 Highest Paid CEOs in India These CEOs aren’t just running companies; they are examples of how Indian corporate leadership has evolved. From Gunender Kapur’s ESOP- driven ₹598. 5 crore payout to C. Vijayakumar’s steep 71% hike: one thing is clear: performance and equity are rewriting what ‘CEO salary’ means in India. And it’s not just an Indian story. On the world stage, Indian origin CEOs are dominating too. Sundar Pichai’s Google package now runs up to $692 million over three years, ahead of peers like Satya Nadella, who earned $96.5 million in FY25. Throw in names like Arvind Krishna and Sanjay Mehrotra, and the pattern becomes impossible to ignore. Whether it's Mumbai or Silicon Valley, Indian leadership isn't just competing globally; it's setting the pay bar. Frequently Asked Questions