- IHCL's Chhatwal received $2.6 million in fiscal 2026.
- The shareholders approved a higher basic salary from April 1.
- His remuneration rose nearly 9 percent from a year earlier.
TATA GROUP-OWNED INDIAN Hotels Co. Ltd. Managing Director and CEO Puneet Chhatwal received $2.6 million in remuneration in the financial year ended March 31, according to the company's annual report. The amount rose nearly 9 percent from $2.4 million in the previous financial year.
The ratio of Chhatwal's remuneration to median employee remuneration rose to 521.7 from 506.1 in the previous financial year, PTI reported, citing IHCL report. Median employee remuneration increased 5.5 percent, compared with 4.7 per cent in the previous financial year.
Chhatwal received $1.5 million as salary, including a performance bonus, $507,300 in benefits, perquisites and allowances and $623,700 as commission. The company said the figures exclude provisions for leave encashment, gratuity and group health insurance premiums.
In the previous financial year, Chhatwal received $1.38 million as salary, including a performance bonus, $461,200 in benefits, perquisites and allowances and $567,100 as commission, bringing his total remuneration to $2.41 million.
IHCL shareholders approved a revision to Chhatwal's basic salary, effective April 1, at the company's annual general meeting on June 30. The board on May 11, 2026, approved raising his maximum monthly basic salary to $31,450 from $23,060, for the remainder of his tenure through November 5, 2027.
IHCL plans to invest $630.7 million to $788.4 million in capital expenditure over the next five years under its Accelerate 2030 strategy. The investment will be funded through the company's annual free cash flow of about $126.15 million.
