Business News Desk – 51 founders of 28 Indian new age startup companies in the country have taken a total salary of Rs 283.5 crore in FY24. The average salary of startup founders in India has seen a decline in FY24 by 26.9 percent to Rs 5.55 crore compared to Rs 7.6 crore in FY23, a report said. 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 operating income in FY24 stood at Rs 6,480 crore and the company suffered a loss of Rs 321.5 crore during this period. Zerodha founders Nikhil and Nitin Kamath were ranked second in the list in FY24. In the last financial year, both the brothers took an annual salary of Rs 33.8 crore. Both took a salary of Rs 48 crore in FY23. Zerodha’s operating income in FY24 was Rs 9,372.1 crore and the company made a profit of Rs 5,496.3 crore during this period. Capillary Technologies founder Anish Reddy was ranked third in the list. He took a salary of Rs 13.3 crore in FY24. This is 1,480 per cent more than the salary of Rs 84 lakh in FY23.
Bhanu Chopra, founder of hotel software company Rategain, received Rs 5.8 crore as salary in FY24. It was Rs 6.1 crore in FY23. RateGain’s operating income grew 69 percent to Rs 957 crore in FY24 and the company made a profit of Rs 146.3 crore during this period. Paytm MD and CEO Vijay Shekhar Sharma was ranked fifth in this list. He has taken an annual salary of Rs 4.4 crore in FY 2024, which is 10 percent more than the annual salary of Rs 4 crore he took in FY 2023.
Mamaearth CEO Varun Alagh’s annual salary was Rs 3.97 crore in FY2024, which is 166.9 percent more than the annual salary of Rs 1.49 crore he took in FY2023. At the same time, his wife and co-founder of the startup got a salary of Rs 1.79 crore in FY 2024, which is 80.8 percent more than the Rs 99 lakh taken in FY 2023. Mamaearth’s operating income in FY 2024 was Rs 1,919.9 crore and the company earned a profit of Rs 110.5 crore during this period.