Latest news with #KKrithivasan
Time of India
2 days ago
- Business
- Time of India
TCS CEO Krithivasan's Compensation Increases to Rs 26.52 Crore Amid Industry Challenges, ETHRWorld
Advt Advt Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHRWorld App Get Realtime updates Save your favourite articles Scan to download App Mumbai: K Krithivasan, the chief executive and managing director of India's largest IT services company TCS, took home a remuneration of Rs 26.52 crore in FY25. The CEO's remuneration package increased by 4.6 per cent in the fiscal year, said the TCS annual report released on remuneration is nearly 330 times the median salary paid by the company to its 6.07 lakh employees, as per the annual report. Krithivasan's compensation included a salary of Rs 1.39 crore, Rs 2.13 crore in benefits, perquisites and allowances and a commission of Rs 23 crore, it financial officer Samir Seksaria saw a 7.8 per cent increase in the overall remuneration, as per the average annual increase for employees' remuneration came in between 5.5 to 7.5 per cent, after factoring-in promotions, the company said, adding that 1.1 lakh employees were promoted during the the case of top performers within the country, the hikes went into double digits as well in percentage terms, the company annual report also said that newly appointed president and chief operating officer Aarthi Subramanian will be paid a salary of Rs 10.8 lakh per a time of rapid shifts in technology landscape, the company's expenditure on research and development decreased both in absolute quantum as well as from a share of overall revenues spent Rs 2,630 crore in R&D and innovation in FY25 as against Rs 2,751 crore in FY24, and the same came down marginally to 1 per cent of total turnover in FY25 from 1.1 per cent in FY24, as per the TCS management said the global economic activity faces headwinds from geopolitical and policy uncertainties, but there are opportunities for resilience and recovery."Clearer trade agreements and improved global cooperation could help regain momentum. However, risks like financial market volatility, demographic shifts, and fiscal constraints persist. Proactive policy responses and innovation-driven growth can help mitigate these pressures," it the 6.07 lakh employees, 2.14 lakh or 35 per cent were women staff, the company were 125 cases of sexual harassment received during the fiscal year as against 110 in the previous fiscal, the company said, adding that 23 complaints are pending resolution at end-March 2025.
Time of India
3 days ago
- Business
- Time of India
TCS CEO's pay hike; L Catterton's India fund
TCS CEO's pay hike; L Catterton's India fund Also in the letter: TCS paid CEO K Krithivasan Rs 26.5 crore in FY25 Breakdown: Base salary: Rs 1.4 crore Rs 1.4 crore Benefits, allowance and prerequisites: Rs 2.13 crore. Rs 2.13 crore. Commissions: Rs 23 crore. Rs 23 crore. Pay ratio to the median employee remuneration: 329.8. For employees: TCS awarded annual increments ranging from 4.5% to 7% for its workforce of six lakh employees. Top performers received double-digit increases. Factoring in promotions and other event-based compensation, total pay hikes varied between 5.5% and 7.5%. Employees based outside India received wage hikes between 1.5% and 6%. Also Read: AI ahead: Headcount Also Read: L Catterton to raise $600 million for its first India-dedicated fund Driving the news: More details: IFC will invest $30 million in L Catterton India Fund-I, with an additional $30 million allocated for co-investment. Last March, former Hindustan Unilever chief executive Sanjiv Mehta partnered with L Catterton to establish this India-focused fund. In July, ET reported that L Catterton had applied to the Securities and Exchange Board (Sebi) of India to register the India-focused fund as a Category II alternative investment fund (AIF). Tell me more: L Catterton aims to make seven to nine investments from the India-focused fund, with cheque sizes ranging from $25 million to $150 million. The fund will primarily focus on companies in the food and beverages, consumer services (including healthcare, retail, and restaurants), and consumer brands sectors, according to IFC. Future outlook: Also Read: Unacademy founders' shift to AirLearn, Jain's offline role are strategic: Gaurav Munjal to employees Driving the news: No worries: Tell me more: Reality check: Also Read: Myntra secures Rs 1,063 crore funding from Singapore-based parent entity Driving the news: Yes, and: Expansion play: On May 19, Myntra launched Myntra Global, offering local brands to the Indian diaspora in Singapore as part of its international expansion. Partner brands will export products from their inventory in India, with shipping times ranging from four to seven days. Additionally, the company is racing to enter the evolving quick delivery space in India, with M-Now. It is expanding beyond apparel to include accessories, home furnishings, and makeup. Google paid Neal Mohan $100 million to stop him from joining Twitter What's the news: Money matters: Trying their luck: IT major TCS paid Rs 26.5 crore in remuneration to CEO and MD K Krithivasan in FY25. This and more in today's ETtech Top 5.■ Unacademy founders' 'strategic' shift■ Myntra gets expansion capital■ Google's $100m offer to Neal MohanK Krithivasan, CEO, TCSTata Consultancy Services (TCS) paid its chief executive, K Krithivasan, Rs 26.5 crore in the financial year 2025 , marking a 4.6% increase from FY24, according to the company's latest annual total compensation rose from Rs 25.45 crore in the previous year, following his appointment as CEO and MD in N Chandrasekaran stated in the report that TCS aims to expand its workforce with a substantial number of AI agents alongside human employees.'IT and business services are moving toward autonomous operations. The rise of autonomous robots and AI agents promises a future of 'dark factories' and AI-assisted enterprise functions,' he said in a letter to shareholders in TCS' annual report.: The report added that TCS's headcount reached 607,979 in FY25, reflecting an increase of 6,433 individuals compared to FY24, following consecutive fiscal periods of workforce Mehta, executive chairman, L Catterton IndiaL Catterton, the LVMH-backed private equity firm, is raising $600 million for its inaugural India-focused fund, according to a disclosure by the International Finance Corporation (IFC).The move could mark the first instance of a global private equity firm launching an investment vehicle specifically for the Indian market.L Catterton will enter a market already populated by consumer-focused investors, such as A91 Partners, alongside early-stage firms like Fireside Ventures and DSG Consumer Munjal and Roman Sain, founders, UnacademyUnacademy cofounder Gaurav Munjal wrote to employees on Wednesday clarifying that his increased involvement in the company's new platform, AirLearn, alongside cofounder Roman Saini, and incoming CEO Sumit Jain's focus on the offline business, are "strategic moves."The memo followed ET's Wednesday newsbreak that Munjal and Saini plan to step back from their executive roles to focus on the internal email, Munjal stated that he and Saini are now devoting 'substantial time and resources' to the language learning portal AirLearn, while Jain is 'channelling efforts' to strengthen the offline business.'I want to be clear – there's no cause for concern. Unacademy is performing exceptionally well. We've successfully completed appraisals across the board, and our burn rate is significantly reduced. Our balance sheet remains robust and healthy,' Munjal wrote, looking to quell layoff concerns triggered by which competes with Duolingo in the consumer-facing language learning space, has entered talks with potential investors. Some of Unacademy's existing shareholders may participate. However, this development has rankled certain board members, who believe the company should focus more aggressively on addressing core business challenges. Once valued at $3.4 billion , Unacademy has come down from its pandemic-era highs. In FY24, it reported revenue of Rs 840 crore while trimming its losses to Rs 631 crore Nandita Sinha, CEO, MyntraOnline fashion retailer Myntra has secured a fresh capital infusion of Rs 1,063 crore from its parent entity, FK Myntra Holdings, amid its expansion into to regulatory filings, Myntra Designs has allotted 19,43,753 equity shares to its Singapore-based parent at an issue price of Rs 5,465.23 each on a rights basis to raise this total Myntra, Flipkart's parent company, invested $81 million in November 2024 and $338 million in March 2024 into the fashion faces fierce competition in the crowded online fashion space from rivals like Amazon and the Chinese company Shein, which has returned to the Indian market after a five-year Mohan, CEO, YouTubeYouTube chief executive Neal Mohan's recent appearance on Nikhil Kamath's podcast has revived discussion around long-standing rumours that Google paid him $100 million a decade ago to prevent him from joining Twitter (now X).During the podcast, Kamath said, 'I remember reading this thing about Google offering you $100 million not to quit. Not today, but 15 years ago, which was a lot of money.' Mohan did not deny the played a pivotal role in Google's advertising and YouTube's product teams in 2011. Reports indicated that he was offered $100 million in restricted stock units, set to vest over several offer was made when Twitter was attempting to recruit him as chief product officer, led by David Rosenblatt, a board member of the microblogging site now known as X. He was Mohan's former was reported that Twitter also attempted to poach Sundar Pichai, who was then leading Chrome and Chrome OS at Google. The search giant retained him with a $50 million stock grant.
Time of India
3 days ago
- Business
- Time of India
TCS CEO Krithivasan's FY25 pay rises 4.6% to Rs 26.52 crore, nearly 330 times median salary paid to employees
NEW DELHI: K Krithivasan, TCS's chief executive and managing director, received a total remuneration of Rs 26.52 crore in FY25, marking a 4.6% increase from the previous year, according to the company's annual report released on Tuesday. His pay was nearly 330 times the median salary of the company's 6.07 lakh employees. The CEO's remuneration consisted of Rs 1.39 crore in salary, Rs 2.13 crore in benefits, perquisites and allowances, alongside a commission of Rs 23 crore. The company's CFO, Samir Seksaria, received a 7.8 per cent increase in total remuneration during the period. Employee remuneration increased between 5.5 to 7.5 per cent annually, considering promotions, with 1.1 lakh staff members advancing in their roles during the year. High-performing employees within India received salary increases reaching double-digit percentages. The report indicated that newly appointed president and COO Aarthi Subramanian will receive a monthly salary of Rs 10.8 lakh. During technological transitions, the company's R&D expenditure decreased in both absolute terms and as a proportion of revenue. R&D and innovation spending reduced to Rs 2,630 crore in FY25 from Rs 2,751 crore in FY24, representing 1 per cent of turnover compared to 1.1 per cent previously. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo TCS leadership acknowledged global economic challenges from geopolitical and policy uncertainties while recognising opportunities for stability and growth. "Clearer trade agreements and improved global cooperation could help regain momentum. However, risks like financial market volatility, demographic shifts, and fiscal constraints persist. Proactive policy responses and innovation-driven growth can help mitigate these pressures," it added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
3 days ago
- Business
- Time of India
TCS paid CEO K Krithivasan Rs 26.5 crore in FY25
Tata Consultancy Services ( TCS ) chief executive K Krithivasan 's pay increased 4.6% in fiscal year 2025 to Rs 26.52 crore, according to the company's annual report. This comprised Rs 1.395 crore as the base salary, Rs 2.12 crore in benefits, prerequisites and allowances, and Rs 23 crore in commissions. In FY24, Krithivasan earned Rs 25.2 crore. Infosys CEO Salil Parekh earned Rs 66 crore the same year, while Thierry Delaporte of Wipro received Rs 166 crore, one of the highest pay packages in the IT industry. Employee hikes The average annual increase in the company was in the range of 4.5-7%, with top performers receiving double-digit increments in India, as per the report. Employees outside India received a wage increase varying from 1.5-6%. Live Events After a net decline in FY24, the company saw its headcount expand in FY25 to 607,979. However, hiring stayed in the slow lane, with only 6,433 people added on a net basis. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories FY25 - 607,979 FY24 - 601,546 FY23 - 614,795 FY22 - 592,195 FY21 - 488,649 ET reported on May 15 that Infosys released performance bonus letters for eligible employees for the January-March (Q4FY2024-25) quarter. Much of the workforce saw the payout as being significantly lower than the previous one, employees told ET. In April, Infosys had reported an 11.7% year-on-year fall in net profi t to Rs 7,033 crore. The revenue guidance for the year 2025-26 was also in a low-single-digit range.
News18
3 days ago
- Business
- News18
TCS CEO Salary: K Krithivasan Receives Rs 26.52 Crore in FY25, Up 4.6% From Previous Year
Last Updated: K Krithivasan's compensation includes a salary of Rs 1.39 crore, up from Rs 1.27 crore in the prior year, along with Rs 2.12 crore in benefits, perquisites, and allowances. K Krithivasan, CEO and MD of India's largest IT services firm Tata Consultancy Services (TCS), earned a total compensation of Rs 26.52 crore in the financial year ended March 2025, marking a 4.6 per cent increase from Rs 25.35 crore in the previous year, as per the company's latest annual report. The remuneration included a salary of Rs 1.39 crore, up from Rs 1.27 crore in the prior year, along with Rs 2.12 crore in benefits, perquisites, and allowances. The largest component of his pay came from Rs 23 crore in commission. The pay ratio of the CEO to the median TCS employee remuneration stood at 329.8. This salary hike closely mirrors the average salary increments provided to TCS employees last year, which ranged between 4.5 per cent and 7 per cent in India. Top performers received double-digit hikes, and the total increase across the workforce, factoring in promotions and event-based revisions, ranged between 5.5 per cent and 7.5 per cent. Employees outside India saw pay hikes between 1.5 per cent and 6 per cent. TCS noted that remuneration structures are aligned with local market trends and individual contributions, with performance-based components linked to company and individual performance metrics. The median employee remuneration rose by 6.3 per cent in FY25. TCS had a total workforce of 6,07,979 employees as of March 2025. In his letter to shareholders, Krithivasan described the macroeconomic and geopolitical environment as 'very challenging" and emphasized the ongoing innovation wave in the AI space. He highlighted how TCS is helping clients scale AI adoption by establishing AI Centres of Excellence, AI Labs, and secure GenAI-as-a-service platforms tailored for enterprise needs. In the March 2025 quarter (Q4 FY25), India's largest IT services company TCS reported a 1.68 per cent fall YoY in its net profit to Rs 12,224 crore for the fourth quarter ended March 31, 2025 (Q4 FY25). The disappointing Q4 results come amid significant headwinds for the IT sector due to the ongoing trade war and a likely US recession. TCS' revenue from operations during January-March 2025 rose 5.29 per cent to Rs 64,479 crore, compared with Rs 61,237 crore a year ago. First Published: May 28, 2025, 11:33 IST
