Rs 51 Crore: L&T Chairman SN Subrahmanyam's Paycheque Is 534.57 Times Avg Salary Of His Employees

A video of L&T chairman SN Subrahmanyam advocating for working up to 90 hours a week and saying 'I regret I am not able to make you work on Sundays' has triggered a nationwide debate on work-life balance. And even as the L&T chairman is under scrutiny, some interesting facts have emerged about his remuneration and the comparison with his employees' median pay.

According to the exchange filings of L&T, Subrahmanyam earned a whopping Rs 51 Crore in fiscal year 2023-24. Interestingly, according to rough industry estimates, his salary is 534.57 times more than the median pay of L&T employees, whose median income is Rs 9.55 lakh. 

L&T Chairman: Income Over Years

Subrahmanyan's income for 2023-24 consisted of a basic salary of Rs 3.6 crore, Rs 1.67 million in prerequisites, and Rs 35.28 crore as commission. He also earned retirement benefits worth Rs 10.5 crore, raising his total to Rs 51 crore.

In the last ten years, his compensation has climbed at a compound annual growth rate of 14.43 per cent . In 2014, his pay was Rs 13.26 crore, which increased to Rs 51.05 crore in 2024.

This is significantly greater than the CAGR rise of 6.93 per cent in employees' media salaries over the last ten years. Between 2014 and 2024, workers' salaries rose from Rs 5 lakh to Rs 9.77 lakh.

L&T Chairman: Official Statement

L&T released an official statement saying that the chairman’s remarks reflect the larger ambition for extraordinary outcomes at the organisation.

“At L&T, nation-building is at the core of our mandate. For over eight decades, we have been shaping India’s infrastructure, industries, and technological capabilities. We believe this is India’s decade, a time demanding collective dedication and effort to drive progress and realise our shared vision of becoming a developed nation," the company said.

L&T Chairman: Profile

S N Subrahmanyan is the Chairman and Managing Director of Larsen & Toubro, a multibillion-dollar corporation that operates in engineering, infrastructure, information technology, and financial services. He also serves as the Chairman of L&T Finance Holdings Ltd, as well as LTIMindtree, L&T Technology Services, and L&T Metro Rail (Hyderabad) Limited.