New Delhi
51 founders of 28 Indian new age startup companies in the country have taken a total salary of Rs 283.5 crore in FY24. INC 42 report states that the average salary of startup founders in India has seen a decline in FY24 and is down by 26.9 percent to Rs 5.55 crore as compared to Rs 7.6 crore in FY 23. These companies range from stock broking to consumer goods startups.
Among all these startups, Supam Maheshwari, founder of ecommerce startup FirstCry, has taken the highest salary of Rs 103.8 crore in FY24. However, this is about 50 per cent less than the salary of Rs 200.7 crore taken in FY23. FirstCry’s income from operations in FY24 was Rs 6,480 crore and during this period the company had a loss of Rs 321.5 crore.
Zerodha founders Nikhil and Nitin Kamath were ranked second in the list in FY24. Each of the brothers took home an annual salary of Rs 33.8 crore in the last financial year. FY23 each had taken a salary of Rs 48 crore. Zerodha’s revenue from operations in FY24 was Rs 9,372.1 crore and the company had a profit of Rs 5,496.3 crore during this period. Capillary Technologies founder Anish Reddy was at third place in this list. He took a salary of Rs 13.3 crore in FY24. This is 1,480 percent more than the FY23 salary of Rs 84 lakh.
Bhanu Chopra, founder of hotel software company Rategain, has received Rs 5.8 crore as salary in the financial year. It was Rs 6.1 crore in FY23. RateGain’s income from operations has increased by 69 percent to Rs 957 crore in FY24 and the company has earned a profit of Rs 146.3 crore during this period. Vijay Shekhar Sharma, MD and CEO of Paytm, was ranked fifth in the list. He took an annual salary of Rs 4.4 crore in FY24, which is 10 percent more than the annual salary of Rs 4 crore taken in FY23.
Mamaearth CEO, Varun Alagh’s annual salary stood at Rs 3.97 crore in FY24, which is 166.9 per cent higher than the annual salary of Rs 1.49 crore in FY23. At the same time, his wife and co-founder of the startup got a salary of Rs 1.79 crore in FY 24, which is 80.8 percent more than Rs 99 lakh in FY 23. Mamaearth’s income from operations in FY24 was Rs 1,919.9 crore and the company had a profit of Rs 110.5 crore during this period.
