Infosys CEO Salil Parekh's pay package jumps 45% to Rs 49 cr in FY21

Infosys CEO Salil Parekh's compensation jumped 45% to Rs 49.68 crore in FY21 from Rs 32.27 crore in FY20, with over half of the total amount coming from the exercise of stock options, the IT major said in its annual report for 2020-21.

Parekh's pay package comprised Rs 30.99 crore in prerequisites on account of stock options, Rs 12.62 crore in bonus, and Rs 6.07 crore in salary. Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinath took home Rs 20.36 crore in 2020-21. Infosys Chairman Nandan Nilekani voluntarily chose not to receive any compensation for his services rendered to the company during 2020-21, according to the report.

Chief Operating Officer U B Pravin Rao's compensation rose about 63% to Rs 17.33 crore in FY21 from Rs 10.6 crore in the previous fiscal.

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The percentage increase of remuneration in fiscal 2021 as compared to fiscal 2020 (excluding perquisite value of stock incentive exercised during the year) was 8% for Parekh and 14% for Rao, as per the report.

In his note to shareholders in the annual report, Parekh expressed optimism about growth opportunities.

"As I look ahead, I am more optimistic than ever of the enormous opportunity ahead of us. Technology, especially digital and cloud, continues to be at the centre of change for large enterprises globally. We are among the best-positioned companies to partner with these enterprises and help them accelerate their digital journey to realise their objectives," he wrote.

He noted that the company delivered exceptional results in the financial year 2020-21 even amid a pandemic-hit year.

"Our clients have been expanding their work with us, especially in the areas of digital and cloud.

"The capabilities that we have built over the past three years, including differentiated offerings like Infosys Cobalt, are what large enterprises are looking for," he said.

Also Read: Infosys CEO Salil Parekh's pay package increases to Rs 34.27 crore in FY20

Parekh added that Infosys' market-leading capabilities in data and analytics, cybersecurity, artificial intelligence, automation, and internet of things are enabling it to be a "critical partner" for its clients.

"Our acquisitions in the past year 'GuideVision, Blue Acorn, Kaleidoscope, and Carter Digital' have helped further strengthen our digital portfolio."

"We are rapidly becoming an integral part of the digital and cloud transformation journeys of our clients," he further said.

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Nilekani said the proactive action that Infosys has taken over the last three and a half years has "decisively enabled" it to set the narrative for the global digital services and consulting industry.

"Infosys will continue to innovate and is well placed to lead the industry in the coming years," he added.

Infosys' 40th annual general meeting will be held on June 19 through video conference and other audio-visual means.

(With inputs from PTI.)