Tech Mahindra CEO Mohit Joshi's Compensation Surges Amid AI Focus
Significant Increase in CEO Compensation
The total compensation for Mohit Joshi, the CEO of Tech Mahindra, saw a notable rise in FY26, reflecting the company's strategic shift towards artificial intelligence services. As per the latest annual report from the IT firm, Joshi's remuneration reached Rs 67.5 crore, which is an 11.7% increase compared to FY25. This places him among the top earners in India's tech industry, surpassing many of his counterparts in competing IT firms.
According to the annual report, Joshi's pay package, converted into British pounds, comprised a fixed salary of £1.36 million, performance-related bonuses totaling £1.11 million, and £2.93 million from stock options. The variable portion of his pay is entirely linked to performance metrics set by the company's nomination and remuneration committee.
In comparison, Wipro's CEO Srinivas Pallia earned Rs 45 crore in FY26, while Tata Consultancy Services' CEO K Krithivasan received Rs 28 crore. However, Infosys CEO Salil Parekh's remuneration of Rs 82.6 crore and HCLTech CEO C Vijayakumar's Rs 94.6 crore package in FY25 were higher.
Furthermore, Joshi's compensation was reported to be 1,085.27 times greater than the median employee salary at Tech Mahindra, which saw a 4.89% decline in median employee pay during the same period. The company's workforce numbered 119,337 employees at the close of FY26. Group Chairman Anand Mahindra received Rs 1.52 crore in remuneration for the fiscal year.
AI as a Catalyst for Growth
AI Seen As Industry's Biggest Growth Opportunity
In a message to shareholders, Anand Mahindra emphasized the transformative potential of artificial intelligence within the technology services sector. He stated, “AI will reshape our industry, change the nature of work, alter the economics of software and services, and challenge old models. But it will also create one of the largest opportunities our industry has ever seen.”
He highlighted that while AI disrupts traditional business frameworks, it simultaneously paves the way for innovation, productivity, and revenue growth.
Mohit Joshi remarked that FY26 marked a pivotal moment for Tech Mahindra, transitioning from stabilization to a phase focused on rapid execution and growth. He indicated that FY27 would prioritize disciplined operations and a stronger focus on high-value services. The Project Fortius initiative, launched in April 2024, is expected to be integral to the company's future strategy.
For FY26, Tech Mahindra reported revenues of Rs 56,815 crore, reflecting a 7.2% increase from Rs 52,988 crore in the previous year. The net profit rose by 13.2% to Rs 4,811 crore, and the operating margin improved by 290 basis points to 12.6%.
Future Growth Driven by AI Services
Betting Big On AI-Led Services For Future Growth
The company commenced FY27 with its most robust large-deal booking pipeline in over a decade. Management has pinpointed consulting services and global capability centers as crucial areas for future growth. However, executives warned that clients might remain cautious regarding significant technology investments due to ongoing macroeconomic uncertainties.
The report noted, “While the company has experienced a meaningful upswing in order bookings, the ongoing geo-economic situation could possibly mean slower order-to-revenue conversion cycles.” Tech Mahindra also disclosed that generative AI is now incorporated into 90-95% of engagements with its largest clients, aiming to enhance growth through AI-driven solutions supported by its Orion agentic platform.