From earning just Rs 10,000 a month over 15 years ago to making lakhs per month, the founder and chief executive of financial services company Paytm Vijay Shekhar Sharma seems to have come a long way. The 44-year-old businessman’s total remuneration for FY 2021-22 was Rs 4 crore!
Of this seven-figure renumeration, Sharma’s salary was Rs 3.714 crore, with perquisites worth Rs 28.7 lakh, according to the company’s annual report released on Thursday. The Paytm chief had earlier an interaction with Reuters had shared that his salary was Rs 10,000 a month when he was 27.
“Families of prospective brides would never call us back after finding out that I earn around Rs 10,000 a month. I had become an ineligible bachelor for my family,” he had told the media organisation
Paytm annual report
Meanwhile, in a letter to the shareholders, Sharma said that the company was on track to achieve operating profitability (EBITDA before ESOP cost) by the quarter ending September 2023. Paytm has further sharpened focus on payments and distribution of lending products, he added.
The financial services company presented the annual report for FY 2021-22, its first as a publicly listed company. Sharma added that Paytm’s core business model is to acquire consumers and merchants for payments services and upsell financial services to them by leveraging its distribution, collections, transactional and behavioral insights.
“I am proud of what Paytm has achieved in the last year with rapid growth in payments,” the Paytm CEO said while adding that the company’s focus also continues to be on buy-now-pay-later (BNPL) and helping financial partners leverage credit distribution through mobile payments. BNPL has become a consumer favourite.
