HCLTech’s C Vijayakumar Becomes Highest-Paid Indian IT CEO with ₹94.6 Crore Package
C. Vijayakumar, CEO of HCL Technologies, earned $10.85 million (approximately ₹94.6 crore) in the 2024‑25 financial year, making him the highest-paid Indian IT sector executive.
This total compensation surpasses those of top leaders at rivals such as Infosys, TCS, Wipro, and Tech Mahindra.
Career Overview and Reappointment
Vijayakumar assumed the role of HCL CEO in October 2016. He became chairman in July 2021 and took on the additional role of managing director after Shiv Nadar’s exit.
In July 2025, the board approved his reappointment from September 2025 to March 2030, subject to shareholder approval.
He joined HCL in 1994 as a senior engineer at its subsidiary HCL Comnet and was instrumental in building its Remote Infrastructure Management business.
He holds a bachelor’s degree in electrical and electronics engineering from PSG College of Technology, Tamil Nadu.
Widely recognised for his leadership, Vijayakumar received awards such as Fortune India’s Best CEO for Super Large IT services and topped Institutional Investor’s Best CEO rankings in the Asia Executive Team survey.
Breakdown of FY 2024‑25 Compensation
Vijayakumar’s total compensation of $10.85 million included:
Base salary: $1.96 million
Performance-linked bonus: $1.73 million
Long-term incentive (performance-based RSUs): $6.96 million
Benefits and allowances: $0.20 million
His salary marked a 7.9% increase over FY 2023‑24, compared to a median employee raise of just 3.1%. His remuneration was 662.5 times the median staff salary.
Approved 71% Hike for FY 2025‑26
For FY 2025‑26, the board granted a substantial 71% hike in Vijayakumar’s pay, raising it to $18.6 million (around ₹154 crore).
The increase has drawn attention to the widening gap between executive and employee pay, but the board cited HCLTech’s strong market performance and Vijayakumar’s leadership as justification.
Industry Comparison
Even among more established peers with larger revenue, Vijayakumar’s pay stands unmatched. In FY 2024‑25:
Infosys CEO Salil Parekh earned ₹80.6 crore ($9.3 million)
Tech Mahindra CEO Mohit Joshi received ₹53.9 crore ($6.2 million)
Wipro CEO Srinivas Pallia earned ₹53.6 crore
TCS CEO K. Krithivasan received ₹26.5 crore
HCLTech’s Financial Performance
HCL Technologies posted firm results in FY 2024 despite economic headwinds:
Revenue: ₹117,055 crore (+6.5%)
EBIT: ₹21,420 crore (+7%)
Profit after tax: ₹17,390 crore (+10.8%)
Stable EBIT margin: 18.3%
The services segment led growth, with IT & business services at ₹86,438 crore and engineering & R&D at ₹18,960 crore. Software segment revenue rose 5.2% to ₹12,049 crore.
The company secured 66 large contracts totalling $9.3 billion and declared a dividend of ₹60 per share, equivalent to 93.5% of net income.
Milestones Under Vijayakumar’s Leadership
Since Vijayakumar took over in 2016, HCLTech’s market capitalization has zoomed from ₹1.15 lakh crore to ₹4.32 lakh crore by March 2025, a 3.8-fold increase.
In contrast, peer companies saw around 2.5× growth in the same period. The board attributed Vijayakumar’s revised compensation to his long-serving leadership and consistent delivery of results.
Academic and Early Acclaim
Vijayakumar began his tenure at HCL as part of its strategy team, later leading crucial infrastructure projects. His expertise in managing complex global operations earned him recognition early on.
His record at GroupM and Wavemaker before returning to HCLTech adds further credibility to his strategic outlook.
Looking Ahead
With Vijayakumar’s reappointment and significant compensation hike, HCLTech underscores its trust in his continued stewardship through 2030.
The board emphasised that this move reflects confidence in his ability to sustain growth and guide the company through evolving industry challenges.
As India’s IT sector continues to scale amid global uncertainties, the spotlight remains on corporate governance and executive accountability. Vijayakumar’s record-setting compensation highlights how leadership is rewarded in high-performing tech firms.
