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Business Standard
15 minutes ago
- Business Standard
HCLTech CEO Vijayakumar earns $10.85 mn in FY25; tops TCS, Infosys heads
HCLTech CEO C Vijayakumar earned $10.85 million (about ₹94.6 crore) in the financial year 2024-25, making him one of the highest-paid executives in the Indian IT sector and surpassing the earnings of chiefs at larger rivals TCS and Infosys. The company's board has also approved an over 71 per cent increase in his current remuneration to $18.6 million (about ₹154 crore) for the next financial year, according to the company's annual report. Vijayakumar's FY25 compensation places him ahead of his peers at India's top two IT firms. For the same period, TCS CEO K Krithivasan's remuneration was ₹26.52 crore, while Infosys CEO Salil Parekh earned Rs 80.62 crore. Vijayakumar's earnings also topped those of Wipro CEO Srinivas Pallia ($6.2 million or about Rs 53.64 crore) and Tech Mahindra CEO Mohit Joshi (₹53.9 crore). According to HCLTech's annual report, Vijayakumar's total remuneration in the fiscal year ended March 31, 2025, comprised a base salary of $1.96 million and a performance-linked bonus of $1.73 million. The largest portion of his earnings came from long-term incentives, with exercised Restricted Stock Units (RSUs) valued at $6.96 million. An additional $0.20 million was provided in benefits and perquisites. Vijayakumar, who took over as the CEO in 2016, is based in the US and draws his remuneration from HCL America Inc., the firm's wholly-owned US subsidiary. "Under C. Vijayakumar's leadership, HCLTech's market capitalisation has increased from ₹1,15,000 crore on March 31, 2016, to ₹4,32,000 crore on March 31, 2025, reflecting a growth of 3.8 times since FY16. Over the same period, the market capitalisation of the other four leading Indian listed IT services firms among the top five has grown by approximately 2.5 times," the company said. The company's board has approved a revised remuneration package for Vijayakumar, effective April 1, 2025. The proposed annual salary is set at $18.6 million, marking a 71 per cent increase from his FY25 earnings. The proposed structure significantly increases both fixed and performance-linked components. "The revised compensation acknowledges C Vijayakumar's successful and long-tenured leadership as CEO, recognising his significant contributions to the company's growth and sustained performance over the years," the report said. HCL Technologies posted a 9.7 per cent drop to ₹3,843 crore in consolidated net profit for the June quarter, hurt by higher expenses and one-time impact of a client bankruptcy, but raised the lower end of revenue growth outlook for the full fiscal to 3-5 per cent (from 2-5 per cent earlier) on booking expectations in coming quarters. Shares of HCLTech settled 0.98 per cent lower at ₹1,452.95 apiece on the BSE on Friday.
Time of India
an hour ago
- Time of India
Neyyar project to cap water woes in city remains in limbo
T'puram: The proposed Neyyar drinking water project, aimed at addressing the city's water woes, remains in limbo due to the apathy of the officials concerned of Kerala Infrastructure Investment Fund Board (KIIFB) and Kerala Water Authority (KWA) in submitting a detailed project report (DPR) on time. Tired of too many ads? go ad free now Even though, KIIFB was asked to submit a DPR two years ago, the project has not yet received financial and administrative sanctions in the absence of a DPR. Several parts of Kazhakkoottam, Vizhinjam, Venganoor, Manavila, Technopark and Powdikonam are now facing a severe shortage of water. The city needs over 400 MLD of water per day, but the existing plants produce less than 320 MLD per day. KWA officials informed that the delay in implementing the project would leave the city dwellers without water in the imminent future, as there was no alternative source in place. "For the implementation of the project, we may need at least five years. But KIIFB has not even responded to us when asked for updates on the progress of DPR," said a KWA official. Owing to the indifferent approach of KIIFB, the water authority constituted a five-member team to prepare DPR on its own. The team comprises four overseers and an assistant engineer and the plan is to submit the DPR before the govt in two years to obtain the necessary sanctions. "A request was given to KIIFB to share the reports on the studies which were conducted for the project. We will incorporate them in the DPR being prepared by us," the official said. KWA also decided not to cooperate with RITES, agency appointed by KIIFB two years ago for preparing DPR. At an estimated cost of Rs 680 crore, KWA was tasked with the construction of a 120 MLD plant at Neyyar, water tanks, allied facilities and a 23.8km transmission line from Neyyar to the city. Tired of too many ads? go ad free now RITES recommended building a new road from Kattakada to PTP Nagar, an 8km distance, to lay pipes for the transmission line and the road can be used for vehicular movement as well to ease traffic. The new road was recommended to be built at an 8m width from Kattakada to PTP Nagar via Malayinkeezhu, Peyad and Kundamankadavu. The plant costs Rs 90 crore and the remaining amount has to be spent on the transmission line and other allied facilities. City Residents Associations coordinator Sumesh Krishnan opined that much of the water was lost through leakage, and KWA was unable to identify spots where leaks occur. "Leakage, coupled with a lack of enough water in existing sources, leaves many parts of the city without water for days," said Sumesh.
Time of India
an hour ago
- Time of India
NGT seeks report on removal of legacy waste in Bargarh town
1 2 Cuttack: National Green Tribunal (NGT) has directed the state housing and urban development department to file an action taken report (ATR) regarding complying of orders issued earlier for removal of legacy waste dumped for the past 10-15 years in western Odisha's Bargarh town. NGT's east zone bench in Kolkata gave the direction while hearing a petition on July 28 seeking criminal proceedings against the authorities for non-compliance of orders the tribunal had issued on March 23, 2023. Ramakanta Rout and six other residents of Purushotam Nagar in ward 15 under Bargarh Municipality filed the petition. Delay in remediation of legacy waste dumpsites had resulted in huge damage to the environment and posed health hazards for people living in the vicinity, the petition contended. Advocates Sankar Prasad Pani and Ashutosh Padhy represented the petitioners. In its March 2023 order, the tribunal had directed the complete treatment of the waste through bio-mining, micro-composting centres or material recovery facilities by Dec 31, 2023. State govt was also instructed to deposit Rs 1.84 crore in an escrow account to fund the remediation. During the hearing, the tribunal examined an inspection report filed by the Odisha State Pollution Control Board and reviewed the Bargarh Municipality's response to a notice. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo According to the response, a detailed project report (DPR) was prepared but returned by the govt with directions to provide a detailed cost estimate for a wastewater treatment plant. The DPR has since been resubmitted to the engineer in-chief of the Odisha Water Supply and Sewerage Board (OWSSB), Bhubaneswar. Taking it on record, the bench comprising Justice B Amit Sthalekar (judicial member) and Dr Arun Kumar Verma (expert member), said: "We direct the housing and urban development department to file an affidavit within four weeks to show what action has been taken. It may be noted that Rs 1.90 crore has already been released by the state govt to the Bargarh Municipality." The bench also directed the municipality authorities to file a separate affidavit detailing how the funds are being utilised in line with its directives. The matter was listed for next hearing on Sept 10. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
