Tech Mahindra’s CEO CP Gurnani received Rs 22.3 Cr in FY2019
Tech Mahindra’s Chief Executive Officer CP Gurnani's total income stood at Rs 22.3 crore in the 2019 fiscal year as per the company's annual report released yesterday. Out of this Rs 17.8 Cr came from exercising his stock options.
In the previous financial year, Gurnani’s total income was Rs 146 Cr, of which Rs 142 Cr came from exercising his stock options.
For FY19, his gross salary stood at Rs 2.89 Cr as compared to Rs 2.77 Cr in FY18.
Meanwhile, Tech Mahindra reported revenue growth of 12.9% at Rs 34,742 Cr and PAT of Rs 4,298 Cr, up by 13% from FY18.
In his note to shareholders, Gurnani stated, “Our strategy of growing verticals outside of Communications has paid off, with the Manufacturing vertical now crossing one billion dollars in revenue in FY19.”
Gurnani's earnings in the preceding few years have been higher than CEOs of other IT majors like TCS, Infosys and Wipro. TCS CEO Rajesh Gopinathan took home Rs 16 Cr in fiscal 2019, an increase of 28% compared to the previous year. Meanwhile, Infosys CEO, Salil Parekh received an annual pay of Rs 24.67 Cr in the last financial year. Last year, Wipro also had given generous pay hikes to their top executives. Rishad Premji’s salary had increased by 250 percent. Saurabh Govil, President, and CHRO had also received a three-digit percentage increase in salary.