HDFC Bank CEO Jagdishan’s pay package rises by nearly 12% to Rs 12.08 cr in FY25

HDFC Bank’s Managing Director and Chief Executive Officer, Sashidhar Jagdishan, received an 11.8% hike in his annual pay, which rose to Rs 12.08 crore in the financial year 2024–25 from Rs 10.8 crore a year earlier. His basic salary stood at Rs 3.09 crore, while allowances and perquisites amounted to Rs 3.46 crore.

Contributions to the provident fund and superannuation were Rs 37.08 lakh and Rs 46.36 lakh, respectively. In addition, he was awarded a performance bonus of Rs 4.67 crore. As part of the long-term incentive plan, Jagdishan was granted 2,12,052 employee stock options during the year.

Meanwhile, during the same time, Kaizad Bharucha, Deputy Managing Director of the bank, received a basic salary of Rs 2.81 crore, while allowances and perquisites stood at Rs 3.25 crore. Contributions to the provident fund and superannuation were at Rs 33.71 lakh and Rs 42.14 lakh, respectively. He was also given a performance bonus of Rs 4.20 crore. In addition to this, Bharucha was granted 1,30,206 employee stock options during the year.

Jagdishan's message to stakeholders

HDFC Bank is confident of growing its advances on par with the industry in the current financial year and exceeding it next year, Jagdishan said in a message to stakeholders.

Jagdishan, in his message published in the bank's annual report, said the results of FY25 represented the first full year of operation since the merger on July 1, 2023.

He said that in the last financial year, the bank reported healthy growth while maintaining pristine asset quality, which has been its USP across business cycles.

Net profit increased by 10.7 per cent to Rs 67,347.4 crore in March 2025, while net interest income grew by 13 per cent.

"Your Bank's balance sheet rose by over 8 per cent to Rs 39,10,199 crore. Gross NPAs were at 1.33 per cent of Gross Advances. Advances grew by 5.4 per cent to Rs 26,19,609 crore while deposits grew 14.1 per cent to Rs 27,14,715 crore," Jagdishan said.

As is evident, he said the bank's deposits grew 2.5 times faster than loans.

"As stated, we have taken affirmative steps to bring down the credit-to-deposit ratio and reduce the percentage of high-cost borrowings.