Corporate India’s “million-dollar executive club” grew exponentially in the 2025 fiscal year, driven heavily by equity-linked incentives, performance-linked pay, and massive stock options (ESOPs). As boards increasingly shift toward accountability-based models, top-tier CXOs are reaping multi-crore rewards for driving explosive business growth and navigating global economic complexities.
According to financial disclosures, here are the top 5 highest-paid CXOs in India for FY25:
1. Yashish Dahiya (PB Fintech) – ₹641.3 Crore The co-founder, chairman, and group CEO of PolicyBazaar’s parent company, PB Fintech, sits comfortably at the top of the pyramid. Dahiya’s record-breaking compensation was largely driven by the fair value of stock options exercised during the year, showcasing a major trend in new-age tech platforms utilizing equity for strategic executive retention.
2. Gunender Kapur (Vishal Mega Mart) – ₹598.5 Crore Representing the retail sector, Gunender Kapur secured the second spot with an immense compensation package of ₹598.5 crore, reflecting the high-stakes performance benchmarks and valuation growth within India’s booming organized retail sector.
3. Alok Bansal (PB Fintech) – ₹247.9 Crore Reaffirming PB Fintech’s aggressive use of equity-based rewards, its co-founder and executive vice-chairman Alok Bansal ranks third. Like Dahiya, Bansal’s multi-crore package was heavily fueled by exercised ESOPs designed to align founder commitment with long-term shareholder value.
4. Sandeep Kalra (Persistent Systems) – ₹148.1 Crore Sandeep Kalra, the CEO and Executive Director of Persistent Systems, emerged as one of the highest-paid professional leaders in the IT sector. Roughly 90% of his ₹148.1 crore compensation came from stock options, following a massive multi-year stock rally and 20 consecutive quarters of growth for the tech firm.
5. Pawan Munjal (Hero MotoCorp) – ₹109.4 Crore The Chairman and Managing Director of Hero MotoCorp continues to dominate the automotive sector. Leading the promoter-CEO cohort, Munjal took home ₹109.4 crore, maintaining his spot as a top earner as the company secures its market leadership and moves deeper into sustainable energy solutions.
