S.N. Subrahmanyan, the Chairman and Managing Director of engineering and construction giant Larsen & Toubro (L&T), has officially entered the exclusive ₹100 crore annual pay club. His total remuneration for the financial year 2025-26 reached an impressive ₹120.84 crore, positioning him among India's highest-paid corporate executives.
This significant financial disclosure comes over a year after Subrahmanyan garnered widespread public attention for controversial remarks advocating a 90-hour work week for employees. His comments sparked a national debate about work-life balance and executive compensation.
Details of Subrahmanyan's Compensation
According to L&T's annual report, Subrahmanyan's ₹120.84 crore package for FY26 represents an almost 59% increase from his FY25 earnings of ₹76.24 crore. The substantial sum is broken down into several components:
- Salary: ₹4.32 crore
- Perquisites (excluding ESOPs): ₹3.63 crore
- Perquisites (related to ESOPs): ₹16.72 crore
- Retirement Benefits: ₹21.36 crore
- Commission: ₹74.80 crore
The report highlights that a large commission payout, coupled with ESOP-related gains and retirement benefits, were the primary drivers behind the unusually high compensation. His remuneration was reported to be 1,016 times the median salary of an L&T employee, which stands at ₹11.89 lakh per annum.
Comparison with Other Top CEOs
Subrahmanyan's new pay scale places him significantly ahead of many peers in India's corporate landscape. For context, in FY25:
- HCLTech CEO C. Vijayakumar earned approximately ₹84-85 crore.
- Infosys' Salil Parekh received ₹80.62 crore.
- Tech Mahindra CEO Mohit Joshi and Wipro CEO Srinivas Pallia each earned around ₹54 crore.
In contrast, Tata Consultancy Services (TCS) CEO K. Krithivasan was among the lowest-paid top executives, receiving just over ₹28 crore in FY26.
The 90-Hour Work Week Controversy
The L&T chief's compensation disclosure revives discussions surrounding his remarks made in January 2025. During an employee interaction, when questioned about Saturday work, Subrahmanyan stated, "I regret I am not able to make you work on Sundays. If I can make you work on Sundays, I will be more happy, because I work on Sundays."
He further questioned employees' activities at home, asking, "What do you do sitting at home? How long can you stare at your wife? Come on, get to the office and start working."
Subrahmanyan also recounted a conversation with a Chinese individual who, he claimed, attributed China's potential to surpass the USA to its 90-hour work week culture, compared to America's 50 hours. "If you have got to be on top of the world... You have to work 90 hours a week. Get going, guys. Come on," he urged.
Following the significant backlash, L&T issued a clarification, emphasizing that "nation-building is at the core of its mandate" and that India's progress "demanding collective dedication and effort."