Groww co-founders bag multi-crore pay packages in FY25; Attrition hits 50% in support teams
Groww registered a profit of Rs 1,824 crore in the fiscal year 2025 that ended on 31 March
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Online brokerage platform Groww, in its updated Draft Red Herring Prospectus (DRHP) filed with market regulator Sebi, disclosed the annual remuneration of its founders for FY25.
Chief Executive Officer (CEO) and co-founder Lalit Keshre received a total remuneration of Rs 188.6 crore, which included a one-time performance-based incentive of Rs 185 crore accrued in FY24. Keshre, who earlier worked with Flipkart, is an Indian Institute of Technology (IIT) Bombay graduate with over two decades of experience across technology, internet, consumer, and financial sectors.
Chief Technology Officer (CTO) and co-founder Neeraj Singh earned Rs 151 crore, including Rs 148 crore in performance-linked incentive. Singh too is a Flipkart alumnus, with 18 years of experience in technology and engineering.
Chief Operating Officer (COO) Harsh Jain drew a remuneration of Rs 149 crore, comprising Rs 146 crore in incentives. Jain holds degrees from IIT Delhi and University of California, Los Angeles (UCLA), and previously worked at Flipkart.
Chief Financial Officer (CFO) and co-founder Ishan Bansal was paid Rs 136 crore, with Rs 134 crore in performance-linked incentive. Like his co-founders, he also had a stint at Flipkart before starting Groww.
'Groww workforce and attrition'
Meanwhile, the digital investment platform's workforce stood at 1,415 employees as of June 30, 2025. However, attrition has been rising across teams. In engineering, product and design, attrition climbed from 18.7% in FY23 to 27.1% in FY25. The customer support team saw the sharpest churn, with attrition at 50% in FY25, up from 34.6% in FY24.
Groww attributed the spike in attrition mainly to “high churn in customer support workforce, who are typically prone to high attrition.”
'Groww IPO'
According to the IPO document of Groww's parent, Billionbrains Garage Ventures Limited, the public issue will include a fresh issue of Rs 1,020 crore alongside a large offer for sale (OFS) by existing investors and co-founders. Groww will be allocating the net proceeds for brand building an dperformance marketing, material subsidiaries and cloud infrastructure. The largest share of the net proceeds, that is Rs 225 crore, will go towards brand building and performance marketing, followed by Rs 205 crore to its material subsidiary, Groww Creditserv Technology Private Limited, Rs 167.5 crore to Groww Invest Tech Private Limited, and Rs 152.5 crore for strengthening cloud infrastructure.
Groww registered a profit of Rs 1,824 crore in the fiscal year 2025 that ended on 31 March. The company's revenue from operation surged by 49.5% year-on-year to Rs 3,901.7 crore.
