Vijayakumar C, the CEO of HCLTech, has emerged as the highest-paid executive among Indian IT majors for the financial year 2024-25, taking home a total remuneration of $10.85 million (approximately ₹94.6 crore). His pay package surpassed those of his counterparts at larger rivals Tata Consultancy Services (TCS) and Infosys, cementing his position as one of the most well-compensated leaders in the sector.
The company’s annual report revealed that Vijayakumar’s compensation for FY25 exceeded the remuneration of TCS CEO K Krithivasan, who earned ₹26.52 crore, and Infosys CEO Salil Parekh, who took home ₹80.62 crore. His earnings also outstripped those of Wipro CEO Srinivas Pallia ($6.2 million or about ₹53.64 crore) and Tech Mahindra CEO Mohit Joshi (₹53.9 crore).
Breakdown of Earnings
Vijayakumar’s FY25 compensation package consisted of:
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Base Salary: $1.96 million
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Performance-Linked Bonus: $1.73 million
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Long-Term Incentives (Exercised RSUs): $6.96 million
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Benefits & Perquisites: $0.20 million
The largest share of his earnings came from exercised Restricted Stock Units (RSUs), highlighting the long-term incentive structure tied to the company’s performance and share value appreciation.
Major Pay Hike Approved for FY26
The HCLTech board has approved a 71% increase in Vijayakumar’s annual remuneration for the next financial year. Effective April 1, 2025, his revised package is set at $18.6 million (about ₹154 crore). This increase will boost both the fixed and performance-linked components of his salary.
According to the board, the decision to enhance his pay recognises Vijayakumar’s “successful and long-tenured leadership” and his “significant contributions to HCLTech’s sustained growth and performance.” The company credited his leadership for steering HCLTech through challenging global economic conditions while ensuring consistent business expansion.
Leadership and Market Growth
Since taking over as CEO in 2016, Vijayakumar has played a pivotal role in transforming HCLTech into one of India’s leading IT services companies. Under his leadership, HCLTech’s market capitalisation has grown from ₹1.15 lakh crore in March 2016 to ₹4.32 lakh crore in March 2025 — a 3.8x growth. This outpaces the average growth rate of around 2.5x seen by other top Indian IT firms over the same period.
Notably, Vijayakumar is based in the United States and draws his remuneration from HCL America Inc., the company’s wholly-owned US subsidiary.
Company Performance and Outlook
HCLTech recently reported a 9.7% year-on-year drop in consolidated net profit to ₹3,843 crore for the quarter ended June 2025, primarily due to higher expenses and a one-time impact from a client bankruptcy. Despite the quarterly dip, the company has raised the lower end of its full-year revenue growth guidance from 2-5% to 3-5%, citing stronger deal bookings expected in the coming quarters.
Recognition of Sustained Leadership
The revised pay package for Vijayakumar signals the company’s strong confidence in his leadership as HCLTech navigates evolving market conditions and technological transformations. As the global IT services industry faces challenges from shifting client priorities and rapid AI-driven disruption, HCLTech’s board believes Vijayakumar’s experience and proven track record will be instrumental in sustaining the company’s growth trajectory.
