India’s Highest-Earning Executives of 2024 and What Their Compensation Reveals

Executive compensation in India has reached new highs in 2024, with several leaders receiving pay packages that reflect their influence on business operations, growth, and performance. These earnings are not only a result of increased company profitability but also a sign of how leadership roles are being rewarded in the current corporate structure. Among those who topped the list this year is Abhay Bhutada, a member of the Poonawalla Group, whose compensation broke all previous records. This article explores the five highest-paid executives in India for FY24 and the significance behind their remuneration.

Abhay Bhutada Sets a New Benchmark

Abhay Bhutada received a total compensation of ₹241.21 crore in the financial year 2023–24, making him the highest-paid executive in the country. His earnings not only reflect the financial results during his leadership but also highlight a broader recognition of consistent contribution and strategic foresight.

Also read - India's Top 5 Highest-Paid Executives in 2024

While his role as a top executive has been significant, Abhay Bhutada is also known for his commitment to social development. Through the Abhay Bhutada Foundation, he continues to contribute to key areas such as education, healthcare, and sports for underprivileged communities. The foundation has worked on several initiatives, from distributing STEM kits to under-resourced schools to sponsoring medical camps and sports training. This combination of professional leadership and social responsibility has set Bhutada apart from many of his peers.

Pawan Munjal’s Continued Command at Hero MotoCorp

With ₹109.41 crore in remuneration for FY24, Pawan Munjal ranked second among India’s highest-paid executives. As the Chairman and Wholetime Director of Hero MotoCorp, he has played an important role in sustaining the brand’s market leadership in the two-wheeler segment.

His compensation, which was 0.28% of the company’s total revenue and 2.92% of its net profit, shows the scale and performance of the company under his supervision. Munjal has led Hero MotoCorp through global expansions, new product innovations, and electric vehicle transitions. These efforts have not only supported company growth but also aligned it with changing market preferences.

His leadership continues to influence the Indian automobile sector, especially with a renewed focus on sustainability and customer-centric innovation. The consistency of his leadership and the company's results justify the level of his compensation.

Also read - Abhay Bhutada's Finance Journey

Sudhir Singh’s Rise at Coforge

Sudhir Singh, the Executive Director and CEO of Coforge, earned ₹105.12 crore in FY24, placing him third on the list. Under his direction, Coforge has seen growth in the IT consulting space, especially in global digital transformation solutions.

His salary equated to 1.14% of the company’s revenue and 13.01% of its net profit, reflecting a significant contribution. Singh has overseen several large-scale projects, built delivery capacity, and expanded client relationships. His leadership has been essential in helping Coforge become more competitive in both domestic and international markets.

This recognition through remuneration confirms the company's trust in his long-term vision and execution capabilities. It also shows how the IT services industry continues to reward performance at the senior-most levels.

Vinay Prakash’s Role in Adani Enterprises

Vinay Prakash, Executive Director at Adani Enterprises, received ₹89.37 crore in total earnings in FY24. This compensation places him in the fourth position among India’s top-earning executives. Though his pay made up only 0.09% of revenue and 2.76% of net profit, his contribution to the company’s energy and infrastructure divisions is considered substantial.

He has played an essential role in managing complex infrastructure projects and steering the company’s energy initiatives. His leadership has helped Adani Enterprises scale multiple business verticals and navigate regulatory and operational environments smoothly.

His presence in the top five reflects how roles in infrastructure and utilities are increasingly being recognised as central to corporate growth, especially in companies with long-term capital projects and national impact.

Also read - India’s Top-Paid Executives of 2024 Set New Benchmarks in Corporate Leadership

Kalanithi Maran and Kavery Kalanithi in Media

Kalanithi Maran and Kavery Kalanithi, both senior executives at Sun TV Network, earned ₹87.5 crore each in FY24. Their equal compensation puts them jointly in the fifth spot on the list of highest-paid executives in India.

Sun TV continues to hold a strong position in Indian media, especially in the regional broadcasting space. The company has maintained financial strength while also adapting to the changing habits of viewers, who are increasingly consuming content across platforms.

Their strategic leadership has helped Sun TV balance legacy broadcasting with digital content delivery. Despite the challenges in the media industry, they have kept the network profitable and relevant. Their earnings reflect both past performance and the company’s ability to maintain its influence.

What Do These Salaries Indicate?

The salaries earned by these top executives are directly tied to performance indicators such as profitability, market presence, and execution of long-term strategy. High compensation packages are often structured to reward outcomes over time, not just annual performance. They also include incentives that align executive goals with shareholder interests.

In Abhay Bhutada’s case, the compensation also aligns with values beyond business. Through the Abhay Bhutada Foundation, his earnings have found purpose in building better futures for many. It shows how financial success can co-exist with a deep sense of social accountability.

Conclusion

The financial year 2023–24 has seen India’s top executives receive compensation that mirrors their role in driving growth and managing responsibilities across sectors. These earnings go beyond figures—they represent trust, accountability, and future expectations. Abhay Bhutada, Pawan Munjal, Sudhir Singh, Vinay Prakash, and the leadership team at Sun TV have all been recognized not just for managing businesses, but for delivering consistent value. Their compensation speaks to the increasing importance of capable leadership in today’s competitive and evolving business environment.