P. Venkatesalu became a part of the Tata Group in 2002, and in 2008 he transitioned to Trent.
The top executives of the Tata Group, a renowned conglomerate worth Rs 22 lakh crore, have experienced significant salary increments ranging from 16 percent to 60 percent. These salary hikes are directly associated with the outstanding performance achieved by companies like Tata Power, Trent, and Tata Consumer during the previous fiscal year. The collective sales revenue of the company reached a staggering $97 billion last year. Indian Hotels, a subsidiary of the Tata Group that manages numerous luxury hotels worldwide, reported a profit of Rs 1,000 crore.
Trent, the retail chain under the Tata Group, achieved a revenue of Rs 8,242 crore and a net profit of Rs 394 crore. It competes with Reliance Retail’s apparel business, led by Mukesh Ambani’s daughter, Isha Ambani. The company also faces competition from the Aditya Birla Group.
With P. Venkatesalu as its Chief Executive Officer, Trent recorded a revenue of Rs 8,242 crore.
Trent Limited, formerly known as Lakme Limited, was established on December 5, 1952. In 1998, Trent acquired Littlewoods International Private Limited, a company specializing in the sale of readymade garments and related items. Subsequently, the parent company and the acquired company were merged, resulting in the formation of the entity known as Trent Limited.
Trent operates various companies including Westside, Zudio, MISBU, Samoh, and more.
Who is P Venkatesalu?
P. Venkatesalu became a part of the Tata Group in 2002 and subsequently transitioned to Trent in 2008. During his tenure, he closely collaborated with Noel Tata, the half-brother of Ratan Tata, who served as the CEO of the company. Currently, Venkatesalu holds the position of Chairman at Trent, where he provides the company with strategic guidance and sets the direction for its operations.
P. Venkatesalu pursued an Advanced Management Program at Harvard Business School. He holds a Master’s in International Business from Symbiosis International University. Additionally, he is a Chartered Financial Analyst.
According to information from a company release accessed by the Economic Times, P. Venkatesalu’s salary amounted to Rs 5.12 crore. He received a significant hike of 62 percent.
Puneet Chhatwal, the CEO of Indian Hotels, received a 37% pay increase this year, bringing his salary to Rs 18.23 crore.
The market capitalization of Trent stands at Rs 56,821 crore.