IHCL CEO Puneet Chhatwal's Pay Rises ~9% to ₹25 Cr in FY26, Now 521.7x Median
Tata-owned IHCL reported MD & CEO Puneet Chhatwal's remuneration climbed nearly 9% to ₹25 crore in FY26, up from ₹23 crore in FY25. His pay is now 521.7x median employee pay, which rose 5.5%. The board revised his salary cap from ₹22 lakh to ₹30 lakh a month, effective April 2026.
What happened
Indian Hotels Company (IHCL) · Tata-owned hospitality operator IHCL reported MD & CEO Puneet Chhatwal's remuneration rose nearly 9% to ₹25 crore in FY26, now
Key facts
- ₹25 crore FY26 remuneration
- 9% rise
- ₹23 crore FY25
- 521.7x median pay
- 5.5% median pay rise
- salary cap ₹22 lakh to ₹30 lakh/month
Why this matters
The raised salary cap to ₹30 lakh/month effective April 2026 locks in leadership continuity under Chhatwal, reducing key-person risk for any partnership or expansion discussions.
What to watch
- Shareholder dissent >20% on remuneration resolution
- ESG/wage-equity media pickup on 521.7x ratio
- Tata Sons signaling on group-wide executive comp norms
- Median employee pay growth lagging inflation in subsequent filings
- Watch IHCL AGM resolution votes on remuneration and cap revision
- Track proxy advisory reports (IiAS, SES, Glass Lewis) recommendations
- Monitor peer hotel operators disclosing FY26 CEO comp for benchmarking
- Assess IHCL FY26 operating metrics (RevPAR, ARR, room additions) to validate pay-performance link