Tech Mahindra CEO Mohit Joshi draws RS 53.9 cr in FY25

-In its annual report, the company said it will focus on getting returns from its AI investments in FY26

- The company asserted that it is on its way to achieve its objectives set under 3-year plan

Bengaluru, 24 June

The Chief Executive Officer of India’s fifth largest IT services firm-Tech Mahindra, Mohit Joshi received a compensation of Rs 53.9 crore in the last financial year.

In its annual report released on Tuesday, the value of perquisites paid to Joshi stood at Rs 30.8 crore, while variable component coupled with bonus was at Rs 11.7 crore. Salary component of the compensation stood at Rs 11.4 crore.

Joshi’s earnings, which included the perquisite value of the Employee Stock Ownership Plan (ESOP), were 840.22 times the median employee salary. The median salary represents the average of all employee salaries.

As compared to Tech Mahindra’s CEO, TCS CEO, K Krithivasan drew home a salary of Rs 26.5 crore during FY25. Infosys CEO, Salil Parekh’s compensation for FY25 was at Rs 80.6 crore, while Wipro’s CEO, Srinivas Pallia drew home a salary of Rs 53.6 crore.

Meanwhile, Tech Mahindra in its annual report said that the company is on its path to achieve the goals set under its three-year strategic plan.

“We have made steady progress and remain fully committed to delivering on that promise. FY25 marked a critical year in laying the foundation, enabling us to build momentum as we head towards FY27,” Mohit Joshi, CEO of Tech Mahindra said addressing the shareholders in the annual report.

“In BFSI, we saw positive traction, especially in payments, wealth, and core banking. This was driven by domain-led delivery and favourable market conditions,” he added as Tech Mahindra takes several initiatives to ramp up its revenue contribution from BFSI vertical.

Meanwhile, Tech Mahindra’s Chairman, Anand G Mahindra said that shifting geopolitical situation is creating a lot of uncertainty in the market place. He asserted that Tech Mahindra’s several decades of engagement with clients put it at a good stead to help them navigate this complex environment.

According to the Chairman of India’s fifth largest company, Tech Mahindra will increasingly focus on getting measurable returns from AI (artificial intelligence) investments.

“This year, the focus is on moving from shiny prototypes to real and measurable returns. The next stage of AI belongs to companies that can help their clients to fulfil its promise,” Mahindra wrote in the annual report.