Infosys CEO Salil Parekh's annual pay rose 2.5% to 826 million rupees ($8.69 million) in fiscal year 2026, India's second-largest IT company said in its annual report on Friday.
Parekh took home a fixed salary of 79.7 million rupees and bonuses worth 233.5 million rupees. The report did not disclose any information on whether Parekh's term as CEO would be extended, even as his current five-year stint is set to end in March next year. He is already the longest-serving non-founder CEO at the IT company.
Parekh exercising his stock options accounted for the lion's share of his compensation for the year at 507.5 million rupees.
He had earned $9.44 million in fiscal 2025 and $7.9 million in fiscal 2024. The dip in the dollar figure for fiscal 2026 is because the Indian rupee fell 9.88% versus the U.S. currency during the year.
India's $315-billion IT sector is facing another year of slowing growth as AI-linked disruption drives clients to rethink their tech spends. Earlier this month, Indian IT stocks fell to their lowest point in three years after OpenAI announced a new services-led venture.
For fiscal 2027, Infosys last month forecast revenue growth between 1.5% and 3.5% in constant currency terms, which was lower than analysts' estimated range of at least 2% to 4%. For fiscal 2026, Infosys reported a revenue growth of 3.1% in constant currency terms, in line with estimates of 3% to 3.5%.
K Krithivasan, CEO of Infosys' larger rival Tata Consultancy Services, earned $2.96 million for fiscal 2026, while HCLTech and Wipro have not released their annual reports.
($1 = 95.0000 Indian rupees)
