TCS CEO’s total compensation was at Rs 25.2 crore in FY24

Bengaluru, 9 May: Tata Consultancy Services (TCS) said its CEO & MD K Krithivasan drew home a salary of Rs 25.2 crore in FY24, which included his compensation as the head of BFSI vertical for the whole year.

The company in its annual report said Krithivasan received Rs 1.27 crore as salary, Rs 3 crore as benefits, perquisites, & allowances, and Rs 21 crore as commission during the last fiscal year. The total compensation of Krithivasan was slightly lesser than former CEO Rajesh Gopinathan, who received Rs 29.16 crore in FY23.

“The remuneration includes compensation for the full year, i.e. as Global Head of Banking, Financial Services and Insurance (BFSI) for April 1, 2023 to May 31, 2023 and as CEO & MD from June 1, 2023 to March 31, 2024,” the company said in the annual report.

N G Subramaniam, the COO and ED at TCS, drew a total compensation of Rs 26.1 crore in the fiscal 2024. Subramaniam, who is also known as NGS, will be retiring from TCS this month.

While Subramaniam’s ratio of remuneration to the median remuneration of the employees was at 346.2, it was at 95.4 for company’s Chief Financial Officer (CFO), Samir Seksaria.

The company said that it expects sound business momentum going ahead.

“Our all-time high order book, continued deal flow and pipeline velocity give us confidence in our business momentum. Looking forward, we see greater opportunities ahead, as businesses become more technology-intensive and depend on technology to drive competitive differentiation and transform their industries. Our integrated business model which drives value creation for all our stakeholders, will continue to help us benefit from each new wave of technology change,” Krithivasan said in the annual report.

TCS chairman N Chandrasekaran also sent a message of optimism to shareholders. “After two years of recessionary fears, persistently high inflation, and unprecedented monetary tightening, the global macro-outlook looks relatively better now with improving growth, disinflation, and monetary easing in sight,” Chandrasekaran said.

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