Tata Group, the largest industrial conglomerate in the country, has generously rewarded its top executives.
This year, the group has given a salary increase of up to 62 percent to these officers.
The highest salary hikes have been granted to executives leading high-growth businesses such as Trent, Indian Hotels, and Tata Consumer.
Notably, Tata Group achieved a record-breaking sales revenue of $97 billion in 2022-23, with most of its companies experiencing over 20 percent growth.
In recognition of this stellar performance, the board of Tata Sons, the group’s holding company, has rewarded the top executives of these companies.
The total compensation package includes salary, commission, and other benefits.
P. Venkateslu, CEO of Trent, received the highest increase of 62 percent, with a salary of Rs 5.12 crore.
Last year, Trent’s net profit grew tenfold to Rs 394 crore, while revenue saw an impressive 80 percent growth, reaching Rs 8,242 crore.
Puneet Chatwal, CEO of Indian Hotels, received a 37 percent hike, bringing his salary to Rs 18.23 crore.
Sunil D’Souza, CEO of Tata Consumer, experienced a 24 percent hike, taking his salary to Rs 9.5 crore.
Pradeep Bakshi of Voltas received a 22 percent increase, while R. Mukundan of Tata Chemicals and Praveer Sinha of Tata Power saw a 16 percent hike each.
Rajesh Gopinathan of TCS received the lowest increase, with his salary rising by 13 percent to reach 29.1 crores.
However, Gopinathan has since departed from TCS.
Tata Group’s Diverse Business Portfolio
Tata Group operates across multiple sectors, including technology, steel, automotive, consumer and retail,
infrastructure, financial services, aerospace and defense, tourism and travel, telecom and media, and trading and investment.
The group currently has 30 companies under its umbrella.
A Tata Group official expressed satisfaction with the performance in 2023, as 26 out of the 28 listed companies outperformed the market over the past two years.
During this period, the group’s market capitalization increased by Rs 300,000 crore.
Additionally, 17 out of the 28 listed companies achieved revenue growth ranging from 11 to 90 percent in the last fiscal year.
