Byju's Aakash CEO Deepak Mehrotra nets 
5 crore as Annual income!
Starting in the current fiscal year (FY25), Deepak Mehrotra, who was appointed as Managing Director and Chief Executive Officer of Byju's Aakash Educational Services Limited (AESL) in April, will receive a salary of 
5 crore per year.
5 crore per year.
According to the sources, Mehrotra will begin receiving a monthly salary of 41.66 lakh beginning in April of this year. This salary includes an HRA, a special allowance, and a provident fund.
41.66 lakh beginning in April of this year. This salary includes an HRA, a special allowance, and a provident fund.
The filings also stated that if goals or key performance indicators are met, he will receive a bonus of up to 20% of his annual salary. Aakash's board also granted Mehrorta ESOPs worth 25 crore, which can be vested in equal installments over the course of four years beginning in April 2025.
25 crore, which can be vested in equal installments over the course of four years beginning in April 2025.
Mehrotra worked as the Managing Director at Ashirvad Pipes prior to joining AESL. He has more than 35 years of experience in executive positions in the FMCG, telecom, and education industries. Byju stated at the time of the appointment that Mehrotra would be a part of AESL's strategic plan to enhance its offerings, broaden its reach, and have a positive impact on the education landscape.
Aakash also raised $168 million from Ranjan Pai, Chairman of Manipal Education and Medical Group, in November 2023 to pay off the debt it took from Davidson Kempner in May of last year. In April 2021, Byju's purchased Aakash for $940 million.
However, AESL's founders, the Chaudhry family, refused to exchange their remaining stake due to concerns about governance. After three years, both businesses withdrew their merger petitions and now operate independently under the Think and Learn brand. According to its valuation report, Aakash is likely to surpass 2, 300 crore in operating revenue in FY23.
2, 300 crore in operating revenue in FY23.
However, the company has yet to submit audited financial statements for the previous two fiscal years (FY23 and FY24). It contends with FIITJEE and Kota-based Allen Carrier Institute.
Allen made a profit of 429 crore with 2, 277 crore in revenue in FY23, while FIITJEE went bankrupt with 542 crore in revenue. Both have not yet submitted their FY24 accounts.
429 crore with 2, 277 crore in revenue in FY23, while FIITJEE went bankrupt with 542 crore in revenue. Both have not yet submitted their FY24 accounts.Read More News :
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