What if a founder’s ₹5.7 Cr salary is not even the biggest number in their compensation package? Sounds surprising, right? One founder received ₹12 Cr in bonuses and performance incentives on top of the fixed pay, while another recorded a staggering ₹549.3 Cr in ESOP gains. Then there is a ₹31.7 Cr stock-option cost sitting in the filings.
Suddenly, the word “salary” starts looking a little too simple.
That is the question behind the FY26 founder salaries tracker, which covers 16 founders across 10 new-age technology companies.
So, how much did India’s startup founders actually make in FY26? The answer depends on which number you look at. Sixteen founders across 10 new-age technology companies collectively received ₹43.4 Cr in fixed remuneration, up 8.2% from ₹40.2 Cr a year earlier. But that is only the tip of the iceberg.
Look beyond the fixed salary, and the numbers tell a very different story!
Founder Salaries Rose 8.2%, But That Is Not The Whole Story
The average fixed remuneration rose to ₹2.7 Cr per founder from ₹2.5 Cr. Twelve founders received increases, three saw reductions and one remained unchanged.
At first glance, ₹43.4 Cr looks like the total amount these founders earned. It is not. Fixed remuneration is only one component of founder compensation. Bonuses, performance incentives, variable pay, perquisites, retirement benefits and stock-related gains can materially change the picture.
Founder Salaries At A Glance
| Founder | Company | FY26 Fixed Pay | FY25 Fixed Pay | Change | Other Compensation |
| Peyush Bansal | Lenskart | ₹5.7 Cr | ₹5.8 Cr | -1.7% | ₹12 Cr bonus + incentives |
| Vidit Aatrey | Meesho | ₹4.8 Cr | ₹4.5 Cr | +6.7% | Not disclosed |
| Sanjeev Kumar | Meesho | ₹4.8 Cr | ₹4.5 Cr | +6.7% | Not disclosed |
| Vijay Shekhar Sharma | Paytm | ₹4 Cr | ₹4 Cr | 0% | ₹33 Lakh perquisites |
| Sahil Barua | Delhivery | ₹3.4 Cr | ₹2.8 Cr | +21.4% | ₹33.7 Lakh incentive |
| Kapil Bharati | Delhivery | ₹3.3 Cr | ₹2.8 Cr | +17.9% | ₹6.9 Cr ESOP gains |
Who Got The Biggest Founder Salary In FY26?
Peyush Bansal topped the fixed-pay list at ₹5.7 Cr. His remuneration actually fell 1.7% from ₹5.8 Cr, making the ranking more interesting than a simple annual raise story.
Vidit Aatrey and Sanjeev Kumar followed at ₹4.8 Cr each, up 6.7%. Vijay Shekhar Sharma earned ₹4 Cr, unchanged. Sahil Barua and Kapil Bharati earned ₹3.4 Cr and ₹3.3 Cr.
Founder Salaries: Who Got The Biggest Raise?
Gazal Alagh of Mama Earth got the biggest raise. She recorded the biggest hike in founder salaries, with her fixed remuneration jumping 60% to ₹2.4 Cr from ₹1.5 Cr, adding ₹90 Lakh to her annual pay.
Sahil Barua followed with a 21.4% increase, taking his fixed pay to ₹3.4 Cr from ₹2.8 Cr. Kapil Bharati’s pay rose 17.9% to ₹3.3 Cr.
Not Every Founder Got A Raise
Founder salaries did not move in one direction.
Falguni Nayar’s fixed remuneration fell 14%, from ₹86 Lakh to ₹74 Lakh, the steepest decline in the tracker. Sriharsha Majety’s pay dropped 12.5%, from ₹1.6 Cr to ₹1.4 Cr. Bansal’s fell 1.7%, while Sharma’s remained unchanged at ₹4 Cr.
But Founder Salaries Don’t Tell The Full Story
Look beyond fixed salary, and the picture changes.
Fixed remuneration is the regular pay component. Variable compensation and performance incentives are linked to performance. Bonuses provide additional compensation. Perquisites cover benefits beyond fixed pay, while retirement benefits form another part of the package.
Then there are ESOP gains and the cost of stock options granted. These are different again.
Bansal is the clearest example. His fixed remuneration was ₹5.7 Cr, but he also received ₹12 Cr in bonus and performance incentives, ₹24.04 Lakh in perquisites, and ₹7.5 Lakh in retirement benefits.
Salary Vs Other Founder Compensation
| Compensation Type | What It Means | Example From FY26 |
| Fixed remuneration | Regular salary/remuneration | Peyush Bansal ₹5.7 Cr |
| Bonus | Additional compensation | Lenskart founders |
| Performance incentive | Pay linked to performance | Ghazal Alagh, Sahil Barua |
| Perquisites | Benefits beyond fixed pay | Vijay Shekhar Sharma |
| ESOP gains | Value/gain associated with stock options | Sriharsha Majety ₹549.3 Cr |
| Stock-option cost | Accounting cost of options granted | Supam Maheshwari ₹31.7 Cr |
The ₹549.3 Cr ESOP Number Needs A Closer Look
There is another number worth paying attention to: Sriharsha Majety’s ₹549.3 Cr in ESOP gains.
It sounds enormous compared with a ₹1.4 Cr fixed salary, but ESOP gains should not automatically be treated as cash salary received during the year. Salary is regular remuneration. A cash bonus is additional compensation. A performance incentive is linked to targets or performance. A stock-option gain reflects value associated with shares or options.
The same caution applies to Supam Maheshwari’s ₹31.7 Cr cost of stock options granted. That is an accounting cost of options granted, not ₹31.7 Cr in cash income.
Which Startup Founders Earned The Most?
Using fixed remuneration alone, the ranking is straightforward:
- Peyush Bansal: ₹5.7 Cr
- Vidit Aatrey: ₹4.8 Cr
- Sanjeev Kumar: ₹4.8 Cr
- Vijay Shekhar Sharma: ₹4 Cr
- Sahil Barua: ₹3.4 Cr
- Kapil Bharati: ₹3.3 Cr
This ranking compares fixed remuneration, not total wealth or total compensation.
Founder Salaries Vs Company Performance
Lenskart reported ₹8,814 Cr in revenue and ₹500.9 Cr in net profit, with revenue growth of 33% and profit growth of 69%. Meesho generated ₹12,626 Cr in revenue, up 34.5%, but reported a ₹1,357.7 Cr net loss, although its loss narrowed by 65.6%.
Delhivery reported ₹10,486 Cr in revenue, up 17%, and ₹321 Cr in net profit, up 8%. Paytm posted ₹8,437 Cr in revenue, up 22.3%, and ₹552 Cr in net profit, alongside ₹502 Cr in EBITDA.
Ather grew revenue 62.8% to ₹3,671.8 Cr, while its net loss narrowed 36.3% to ₹517.2 Cr.
| Company | Founder Fixed Pay | FY26 Revenue | FY26 Profit/Loss | Revenue Growth |
| Lenskart | ₹5.7 Cr | ₹8,814 Cr | ₹500.9 Cr profit | 33% |
| Meesho | ₹4.8 Cr each | ₹12,626 Cr | ₹1,357.7 Cr loss | 34.5% |
| Delhivery | ₹3.4 Cr / ₹3.3 Cr | ₹10,486 Cr | ₹321 Cr profit | 17% |
| Paytm | ₹4 Cr | ₹8,437 Cr | ₹552 Cr profit | 22.3% |
| Ather | ₹2.1 Cr each | ₹3,671.8 Cr | ₹517.2 Cr loss | 62.8% |
What Founder Salaries Tell Us About India’s Startup Ecosystem?
The tracker has followed founder remuneration since FY23, capturing a shift from the funding boom to the funding winter and, more recently, greater focus on profitability and IPOs.
Note: We have also covered Startup Founder Salaries in India: Who Earned the Most in FY24? Go through the article for more details.
The Real Story Behind Founder Salaries
The headline is simple: 16 founders across 10 companies received ₹43.4 Cr in fixed remuneration in FY26.
The real story is more complicated.
A ₹5 Cr salary does not tell the whole story when bonuses and incentives can add several crores more. At the other end, a huge ESOP gain should not be casually counted as cash salary. Stock-option accounting costs need a separate lens too.
That is why founder salaries are best read as part of a compensation package. The most useful question is not simply who earned the highest salary, but what made up that founder’s total reported compensation and how it fits alongside the company’s growth, profits, losses, and stage of maturity.
