Infosys CEO Salil Parekh’s annual pay rose 2.5% to ₹826 million ($8.69 million) in fiscal year 2026, India’s second-largest IT company said ‌in its annual report on Friday. Parekh ​took home a fixed salary ⁠of ₹79.7 million and bonuses worth ₹233.5 million. The report did not disclose any information on ‌whether Parekh’s term as CEO would be extended, even as his current five-year ‌stint is set to end in March ‌next ⁠year. He is already the ⁠longest-serving non-founder CEO at the IT company.

Parekh exercising his stock options accounted for the lion’s share of his compensation ​for the year at ‌507.5 million rupees. He had earned $9.44 million in fiscal 2025 and $7.9 million in fiscal 2024. The dip in the dollar figure for ‌fiscal 2026 is because the Indian rupee ​fell 9.88% versus the U.S. currency during the year. India’s $315-billion IT sector is ⁠facing another year of slowing growth as AI-linked disruption drives clients to rethink their tech spends.

Earlier this month, Indian IT stocks fell to their lowest point in three years after OpenAI announced a new services-led venture. For fiscal 2027, Infosys last month forecast revenue growth between 1.5% and 3.5% in constant currency terms,which ‌was lower than analysts’ estimated range of at least ​2% to 4%. For fiscal 2026, Infosys reported a revenue growth of 3.1% ⁠in constant currency terms, in line with estimates ⁠of 3% to 3.5%.

K Krithivasan, CEO of Infosys’ larger rival Tata Consultancy Services, ‌earned $2.96 million for fiscal 2026, while HCLTech and Wipro have not released their annual reports.