Tech Mahindra CEO Salary Jumps 11% to ₹67.5 Crore as Company Navigates AI-Driven Workforce Shift

Tech Mahindra CEO Salary Jumps 11% to ₹67.5 Crore as Company Navigates AI-Driven Workforce Shift​

Tech Mahindra Chief Executive Officer and Managing Director Mohit Joshi’s compensation saw a significant rise in the financial year 2025-26. According to the company's annual report, his total remuneration surged by 11.76 percent, reaching ₹67.55 crore (or £5.4 million). This increase marks a considerable progression from his FY26 salary of ₹52.1 crore last year.

Breakdown of Mohit Joshi’s FY26 Remuneration​

Joshi's total remuneration package for the financial year 2025-26 is comprised of several components, including actual paid salary, performance incentives, and stock benefits. His annual pay included ₹17 crore in actual salary (equivalent to £1.36 million). The compensation also featured a pre-requisite value of Employee Stock Ownership Plans (ESOPs) exercised, valued at ₹36.65 crore (£2.93 million).

The package was rounded out by a performance-linked bonus pay amounting to ₹13.8 crore (£1.11 million). Excluding the ESOP benefits, his remuneration still saw a robust 20.39 percent increase. During the year, Joshi exercised approximately 2,35,364 stock options against an opening balance of 4,68,130 shares. He was granted an additional 1,97,718 shares during FY26.

Company Workforce Trends and Remuneration Ratio​

The annual report disclosed that Tech Mahindra had a workforce of 1,19,337 permanent employees as of March 31. The company is actively restructuring its workforce to account for gains in productivity driven by Artificial Intelligence. As part of this restructuring, the firm has decided to selectively hire going forward.

This strategic shift means there has been an onboarding delay impacting freshers. Reports indicated that over 1,000 fresh graduates from the 2025 batch across colleges in Maharashtra were awaiting offer letters at the time of reporting. Joshi’s ratio of remuneration (including ESOPs) to the median remuneration of employees stood at about 1,085.27. Notably, there was a slight reduction of 4.89 percent in the median employee remuneration during FY26.

Peer Comparison Among Top IT Services CEOs​

The report also provided comparisons with several senior executives across peer organizations in the top IT services sector. Infosys CEO Salil Parekh earned ₹82.6 crore in FY26, while Wipro’s Srinivas Pallia received ₹49.6 crore. LTM’s Venu Lambu took home ₹27.26 crore. In comparison, TCS CEO K Krithivasan secured ₹28 crore for the same fiscal year.