Executive Salaries in India Reach New Peaks in 2024

Executive compensation in India hit a new stride in 2024. Some of the most prominent leaders in the country’s corporate world received large-scale earnings that reflected their efforts in driving growth, improving company performance, and delivering value across their sectors. While the figures themselves are significant, they are best understood through the work, planning, and dedication that backed them. Here’s a breakdown of the top five highest-paid executives in India this year, with a deeper look at their roles and impact.

Abhay Bhutada Sets a National Record in Executive Compensation

Abhay Bhutada, CEO (former) of Poonawalla Fincorp, claimed the number one spot with a total salary of ₹241.21 crore in FY24. As a member of the Poonawalla Group, Bhutada’s contributions have played a key role in shaping the performance of the company he led. His financial results are not merely outcomes of status but of the strategic efforts put into turning operations around.

His time as Managing Director and CEO was marked by initiatives that built operational resilience and customer trust. The company earned a CRISIL AAA rating during his leadership—a key achievement that speaks to financial discipline and sound risk control. He also invested in digitizing customer service, which helped streamline access to credit and improve delivery efficiency.

Outside the boardroom, Abhay Bhutada is equally focused on impact through his foundation. The Abhay Bhutada Foundation supports education and healthcare for children and families in underserved areas. His blend of professional success and social commitment illustrates the broader definition of modern leadership.

Also Read: India's Top-Paid Executives in 2024 Reflect a New Corporate Era

Hero MotoCorp’s Pawan Munjal Holds Strong in Manufacturing Sector

With an annual package of ₹109.41 crore, Pawan Munjal, Chairman and Wholetime Director of Hero MotoCorp, ranks second. He has steered the company through years of growth and continues to influence its global outlook.

Munjal’s salary was equivalent to 0.28 percent of revenue and 2.92 percent of the net profit for the year. These numbers are directly tied to his effectiveness in guiding product innovation, brand expansion, and market presence. Hero MotoCorp has remained a reliable name in both metro and non-metro areas, largely due to strategic decisions taken under his leadership.

Sudhir Singh Commands Growth at Coforge

Sudhir Singh, the Executive Director and CEO of Coforge, earned ₹105.12 crore in FY24. Coforge’s continued growth in IT services, especially in digital transformation and automation, is largely driven by Singh’s leadership approach.

His compensation represented 1.14 percent of the company’s revenue and 13.01 percent of its net profit—clear proof of how central his role has been to both direction and delivery. Singh focused on high-value partnerships and technology upgrades to elevate Coforge’s global profile. His ability to maintain project success across global accounts makes him one of the most valued professionals in the technology space.

Also Read: Abhay Bhutada Tops India's Highest Executive Payouts in 2024

Vinay Prakash Contributes to National Projects through Adani Enterprises

Executive Director Vinay Prakash of Adani Enterprises drew a package of ₹89.37 crore for the financial year. Tasked with overseeing the company’s energy and infrastructure portfolios, Prakash plays a significant role in some of India’s most critical development projects.

Though his pay accounted for 0.09 percent of company revenue and 2.76 percent of profit, the value of his leadership lies in his consistent project execution, stakeholder coordination, and focus on long-term goals. His work includes managing complex logistics, regulatory pathways, and energy production targets that are vital to public and private partnerships.

Kalanithi and Kavery Kalanithi Continue Media Leadership at Sun TV

Rounding off the top five are Kalanithi Maran and Kavery Kalanithi, who serve as Executive Chairman and Executive Director of Sun TV Network. Each received ₹87.5 crore in FY24. Their leadership has helped Sun TV remain stable and profitable despite changes in how audiences consume content.

By focusing on original regional programming, competitive pricing, and adapting to new digital platforms, they have sustained Sun TV’s strong position in South India. Their combined strategy reflects long-term planning and market understanding, as their earnings continue to align with the company’s consistent performance and loyal viewer base.

The Broader View: Leadership and Pay Go Hand in Hand

The salaries earned by these executives are more than just financial statements. They are reflections of the scale of work, decision-making ability, and the expectation of continued performance. High executive compensation is a result of the confidence placed in individuals to lead not just departments, but entire companies through phases of transformation, competition, and delivery.

Abhay Bhutada’s record-breaking salary brings focus to how companies today are rewarding visionaries who don’t just maintain results, but build from them. It also shows how personal growth can align with public benefit, with Bhutada’s foundation being a reminder of the positive impact professionals can create outside the corporate structure.

Others on the list—like Pawan Munjal, Sudhir Singh, Vinay Prakash, and the Marans—are all examples of consistent results over time. Their compensation is not tied to a single quarter, but to long-term value creation, something that increasingly defines modern leadership.

Also Read: Top Paid Executives of 2024 with Abhay Bhutada Leading the Pack

Conclusion

Executive compensation in India is undergoing a shift, not just in numbers, but in meaning. The salaries being paid today are for those who deliver performance, take responsibility, and understand the changing needs of both the market and society. In 2024, the message is clear: leadership with clarity and purpose is being recognized—and well rewarded.