L&T Chairman SN Subrahmanyan's pay in FY24 was ₹51 crore, 535 times median employee salary

Larsen & Toubro chairman SN Subrahmanyan took home a total salary of ₹51 crore ($6.12 million) in 2023-24. According to The New Indian Express, Subrahmanyan’s salary is 534.57 times the median salary of the employees of L&T.

His remuneration for 2023-24 included a base salary of ₹3.6 crore ($432,000), ₹1.67 crore ($200,400) as prerequisites, and ₹35.28 crore ($4.23 million) as commission. He also received retirement benefits of ₹10.5 crore ($1.26 million), bringing the total to ₹51 crore ($6.12 million).

A recent video from an L&T video conference has sparked backlash on social media. In a undated clip featuring Subrahmanyan, he suggested that employees should work 90 hours a week.

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"What do you do sitting at home? How long can you stare at your wife? How long can wives stare at their husbands? Go to the office and start working. Honestly, I am sorry that I am not able to make you work on Sundays. I will be happier if I can make you work on Sundays because I work on Sundays too," Subrahmanyan said.

The comments came during a discussion with employees, where he was questioned about L&T’s six-day work week, as opposed to the five-day schedule followed by many other companies. In response, Subrahmanyan gave the example of the Chinese workforce. "If you have got to be on top of the world.. You have to work 90 hours a week. Get going, guys. Come on," he added.

Subrahmanyan's comments spark backlash

Shiv Sena UBT leader Priyanka Chaturvedi called his comments misogynistic, accusing Subrahmanyan of promoting exploitative work practices. “Besides being misogynistic, it reeks of wanting to be the new age slave drivers of India," Chaturvedi posted on X (formerly Twitter).

Bollywood actress Deepika Padukone also criticised Subrahmanyan’s statement. She said. “Shocking to see people in such senior positions make such statements. #MentalHealthMatters.”

RPG Group Chairman Harsh Goenka said, "90 hours a week? Why not rename Sunday to ‘Sun-duty’ and make ‘day off’ a mythical concept! Working hard and smart is what I believe in, but turning life into a perpetual office shift? That’s a recipe for burnout, not success. Work-life balance isn’t optional, it’s essential. Well, that’s my view!."

In response, L&T issued a clarification, saying that the chairman’s comments were made in the context of achieving extraordinary outcomes for the nation.

"We believe this is India's decade, a time demanding collective dedication and effort to drive progress and realise our shared vision of becoming a developed nation. The chairman's remarks reflect this larger ambition, emphasising that extraordinary effort," an L&T spokesperson said.

(With inputs from agencies)