First, stop looking at other's salary. Even if you are getting one crore per annum there will be always be people getting more than you.
Think about switching company, even if you aren't interested. Give interviews and know your worth. You will get to know your worth only when you interview outside your org.
Seems this company is exploiting you and possibly others. If you just sit ideal you will get nothing. Go and ask for hike from your manager, set 1:1 with your HRBP and manager and openly ask for hike. Nothing wrong with that. Don't take No for an answer.