Ratan Tata’s Tata Group CFO salaries will SHOCK you! Highest-paid CFO earned Rs 210900000 in FY25, name is…

PB Balaji, the Group CFO of Tata Motors, was the highest-paid CFO at the Tata Group, followed by Tata Steel CFO Koushik Chatterjee, and Sanjeev Churiwala of Tata Power.

Written by: Gazi Abbas Shahid

Published: June 12, 2025, 10:33 PM IST

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Tata Group CFO salary: Top Chief Financial Officers (CFOs) of the Tata Group earned hefty annual salaries in FY25, with PB Balaji, the Group CFO of Tata Motors, emerging as the conglomerate’s highest-paid CFO, followed by Tata Steel CFO Koushik Chatterjee, and Sanjeev Churiwala of Tata Power.

PB Balaji highest-paid Tata Group CFO

According to annual CFO compensation figures disclosed by listed Tata Group companies, PB Balaji, the Group CFO of Tata Motors, received a total salary of Rs Rs 21.09 crore in previous fiscal, making him the highest-paid finance executive of the group. Balaji’s salary witnessed an increase of 1.47% from the previous year, the company said in its annual report.

Tata Steel Executive Director and CFO Koushik Chatterjee was the second-highest paid CFO of the group, earning a total of Rs 13.99 crore in remuneration in FY25, including 5.28 crore in salary and allowances, Rs 2.33 crore in perquisites, and Rs 4.76 crore in commission and performance-linked incentives.

Chatterjee’s annual remuneration saw an 2.86% over the last fiscal, around 164.71 times the median employee salary at Tata Steel.

Tata Group CFO salaries

Meanwhile, Tata Power CFO Sanjeev Churiwala and Tata Chemicals CFO Nandakumar S. Tirumalai, received total renumerations worth Rs 7.08 crore, and Rs 3.42 crore, respectively, in FY25, according to details.

Churiwala’s total earnings saw a 3.29% increase compared to FY24, and included Rs 6.47 crore in salary and allowances, Rs 27.91 lakh in perquisites, and Rs 33.29 lakh in retirement benefits.

Tirumalai’s pay increased by 0.95% over last year, and his total earnings of Rs 3.42 crore included Rs 3.26 crore in gross salary and Rs 16.65 lakh listed under ‘other’ components.

Notably, not all of Tata Group’s 20 listed companies have disclosed their annual CFO salaries, including TCS and Tata Elxsi, who said that the FY25 remuneration is not comparable with FY24 as the prior year covered only part of the tenure, thus the renumeration for FY25 was not disclosed.