Founder Salaries Of Major Indian Startups- 2024

Founder Salaries of major Indian startups in 2023

The curiosity around founder salaries has always been there in the minds of the folks! Reason? Everybody is interested to know how much those successful entrepreneurs earn from their own companies. However, this curiosity reached sky-high due to the funding winter in 2022…

Founder Salaries of major Indian startups in 2023

Why? You may ask.

Look, funding winters led to aggressive cost-cutting measures including layoffs and pay cuts. While employees were going through a rough patch, folks wondered whether founders also went through such a rough patch or not.

So, in this article, we will delve into the founder salaries of major Indian Startups in 2023.

Stay tuned!

Top 20 Startups in India

Before diving deep into founder salaries, let’s quickly view the list of top 20 startups in India. We have ranked them based on their latest net worth. 

Startup’s NameNet WorthOperating Segment
Zomato$1 trillion Online Food Delivery
Flipkart$37.6 billion E-Commerce
BoAt$18.9 billionElectronics
PhonePe$12 billionFintech
Dream11$8 billionFantasy Sports
Swiggy$7.85 billionOnline Food Delivery
Razorpay$7.75 billionFintech
Policybazaar$7.27 billionInsurance Aggregator
Paytm$6.39 billionFintech
Oyo Rooms$6 billionHospitality
Nykaa$5.88 billionBeauty & Personal Care (BPC)
Ola Electric$5.4 billionElectric Vehicles
Byju’s $5 billionEd-tech
Meesho$4.9 billionE-Commerce
Delhivery$3.52 billionE-Commerce
Zerodha$3.6 billionStock Broking
Unacademy$3.44 billionEd-tech
Cars24$3.3 billionOnline Used Car Reselling platform
MamaEarth$3 billionBeauty & Personal Care
Urban Company$2.8 billionMulti-Services at home
Top 20 Startups in India

You must note that the net worth of startups changes over time. We will keep on updating you!

Why is founder salaries in the news?

Ever wondered about the folks running those cool tech startups in India? Well, get this – 57 of them, leading 34 awesome companies, pocketed a whopping INR 90.2 Crores in salaries for the year 2022-23. 

And guess what? 

The big shots’ average yearly pay bumped up a bit, from INR 1.52 Crores to INR 1.64 Crores.

Now, the startup world in India is going through some wild changes. And what’s that? Funding winter!

These companies are hustling to make profits, which means they’re pinching pennies. Picture this: pay cuts, layoffs, and so on. Over 29,000 employees have felt the squeeze since 2022.

But here’s the twist – while some startups are high-fiving for turning a profit or shrinking their losses, many are still wrestling with financial hurdles. 

In the latest episode, these startups raked in a whopping INR 59,680 Crores in total revenue. But, and here’s the kicker, 21 of them joined the “Oops, We’re in the Red” club, with a combined loss of INR 15,806 Crores.

Now, here’s the million-dollar question-

With all the layoffs and pay cuts for regular folks, did the big-shot founders also take a hit in their paychecks? We’re about to spill the beans on the latest scoop about what these startup founders are cashing in. 

Ready for the ride? 

Let’s dive into the world of major Indian startups and their founder salaries! 

Top 10 Highest Paid Founders

Founder’s NameFounding CompanyDesignationAnnual Salary (FY23)Annual Salary (FY22)
Ritesh AgarwalOyoFounderRs.12 croreRs.5.6 crore
Nitish MittersainNazara TechnologiesCEORs.4 croreRs.3.3 crore
Vijay Shekhar SharmaPaytmFounderRs.4 croreRs.3.7 crore
Dinesh AgarwalIndiaMARTFounderRs.3.8 croreRs.3.45 crore
Sahil Barua DelhiveryManaging Director & CEORs.3.1 croreRs.2.88 crore
Gaurav Singh KushwahaBlueStoneCofounder, CEORs.3.1 croreRs.0.75 crore
Bhanu ChopraRateGainFounderRs.3 croreRs.3 crore
Brijesh AgarwalIndiaMartFounderRs.2.75 croreRs.2.49 crore
Mithum SachetiCaratLaneCofounderRs.2.62 croreRs.1.82 crore
Tushar VashishtHealthifyMeCofounder, CEORs.2.24 croreRs.2.34 crore
Amitava SahaXpressbeesCofounder, CEORs.2.24 croreRs.2.24 crore
Top 10 Highest Paid Founders

The information given above is taken authentic sources, annual reports, and MCA filing of the companies.

Ritesh Agarwal Salary (Oyo Founder)

Ritesh Agarwal Oyo (Founder salaries)

Guess who’s holding the crown for the top earner on our list of founders? It’s none other than Ritesh Agarwal from OYO! 

In the fiscal year 2023, Agarwal bagged a whopping INR 12 Crores in remuneration, showing off a jaw-dropping 114% increase from the INR 5.6 Crores he took home in FY22. Now, that’s what you call a seriously fat paycheck. 

And here’s the twist – Agarwal’s earnings doubled during a year when OYO went through a significant turnaround, affecting 600 employees.

Wait, there’s more! 

In FY23, OYO managed to slash its net loss by 34% compared to the previous year, bringing it down to INR 1,286.5 Crores from INR 1,941.5 Crores. Plus, the startup’s operating revenue shot up by 14%, hitting INR 5,463.9 Crores from INR 4,781.3 Crores in the fiscal year before. 

Now, isn’t that a rollercoaster of financial moves? Keep reading for more juicy details on major Indian startups and their founder salaries!

Note: We have already explained the Oyo Business Model in detail. Check out the article for detailed information. 

Nitish Mittersain (Nazara Technologies)

Nitish Mittersain (Nazara Technologies)

Did you hear about Nitish Mittersain, the big-shot CEO and co-founder of Nazara Technologies? Well, hold onto your hat because he holds the second position in the “highest-paid founders” club for the year we’re checking out. 

Mittersain cashed in a cool INR 4 Crores in FY23, and get this – it’s a sweet 21% bump from the INR 3.3 Crores he pulled in the year before.

Now, let’s talk about Nazara’s game plan. In FY23, this Mumbai-based company rocked the charts with a whopping operating revenue of INR 1,091 Crores, soaring 75% from the INR 621.7 Crores they scored in the previous fiscal year. 

Oh, and the net profit? 

It didn’t just sit still, it jumped up by 21%, landing at INR 61.4 Crores from INR 50.7 Crores in FY22. Now, that’s what I call leveling up! 

Vijay Shekhar Sharma (Paytm)

Vijay Shekhar Sharma (Paytm)

Heard about Vijay Shekhar Sharma, the brain behind Paytm? Well, in the fiscal year 2023, he pulled in INR 4 Crores as his paycheck – a modest 8% bump from the INR 3.7 Crores he earned in FY22.

Now, let’s chat about Paytm’s numbers. In FY23, their operating revenue surged 1.6 times, hitting INR 7,990.3 Crores from INR 4,974.2 Crores the year before. 

And get this – the net loss? 

It took a dip, a decent one, down by 26% to INR 1,766.5 Crores in FY23 from INR 2,396.4 Crores in the previous fiscal year. 

Dinesh Agarwal (IndiaMART)

Dinesh Agarwal (Indiamart)

Ever heard of Dinesh Agarwal, the brains behind IndiaMART? Well, guess what – in the fiscal year 2023, he snagged the second-highest salary spot. Dinesh, who kickstarted IndiaMART back in ’99, pocketed a sweet INR 3.8 Crores, marking an 11.8% increase from the INR 3.4 Crores he raked in the previous year.

Now, let’s dive into IndiaMART’s numbers. Get this – in FY23, their operating revenue shot up by a solid 31%, hitting INR 985.3 Crores from INR 753.4 Crores in the year before. 

But, and here’s the twist, profits took a slight dip, around 5%, ending up at INR 283.8 Crores from INR 298 Crores in FY22. 

Sahil Barua & Kapil Bharati (Delhivery)

Sahil Barua (Delhivery)

Meet Sahil Barua, the driving force behind Delhivery, who clinched the fifth spot on the FY23 earnings list, pulling in a solid INR 3.1 Crores. That’s a tidy 11% bump from the INR 2.88 Crores he bagged the year before.

Now, onto the tech maestro, Kapil Bharati, Delhivery’s CTO, hitting the fifth spot with a cool INR 3 Crores in FY23. That’s a hefty 24% leap from his FY22 earnings of INR 2.42 Crores.

But here’s the financial scoop – Delhivery reported a 5% surge in operating revenue, hitting INR 7,225.3 Crores in FY23, up from INR 6,882.2 Crores the year before. And the losses? Almost on the level, standing at INR 1,007.7 Crores in FY23 versus INR 1,011 Crores in FY22. 

Wrap-Up: Founder Salaries of Major Indian Startups

Here comes the wrap on the 2023 saga of founder salaries in the Indian startup hustle! From Ritesh Agarwal’s OYO adventures to the strategic gigs at Paytm, IndiaMART, and Delhivery – it’s been a financial ride.

You know what- each founder’s paycheck is a story of ups, downs, and the grind for success. Navigating economic twists, meeting market demands, and gunning for profitability – these folks are at the core of the action.

So, as we close this chapter on startup dollars and sense, know this – the dance between founder paychecks and company vibes is a fascinating rhythm in the ever-evolving Indian startup tale. 

Stick around for more from the entrepreneurial frontlines! 

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Published By: Supti Nandi
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