HCLTech delivers strong Q2 led by record deal bookings of $3.3 billion

EBIT margin expands to 18.2%; annualized advanced AI revenue at $876M

NEW YORK and NOIDA, India, Oct. 12, 2026 /CNW/ -- HCLTech (NSE: HCLTECH) (BSE: HCLTECH), a leading global technology company, today reported financial results for the quarter ended September 30, 2026. USD revenue was at $3.7 billion, up 2.2% YoY, while revenue in constant currency (CC) grew 2.6% YoY.

"We delivered a strong quarter with new bookings of $3.3 billion, up 27% YoY, taking first half bookings to a record high. EBIT margin expanded 131 bps QoQ to 18.2%. Services grew 3% QoQ with growth across verticals and geographies, while overall revenue grew 2.3% QoQ. Advanced AI revenue grew 28.4% QoQ and 78% YoY in constant currency. Our AI propositions are resonating well with our clients, giving us confidence in our growth trajectory," said C Vijayakumar, CEO & Managing Director, HCLTech.

Services revenue growth was led by a steady momentum in IT and Business Services, which grew at 4.4% YoY in CC, followed by Engineering and R&D Services at 2.1% YoY (CC). HCLSoftware's annual recurring revenue stood at $1.13 billion. Revenue per employee per annum was at $65.4K, up 2.4% YoY. 

Advanced AI revenue for the quarter was at $219 million, leading to an annualized advanced AI revenue of $876 million.

Industry vertical growth was led by Retail and Consumer Packaged Goods, with 14% YoY (CC) growth, followed by Financial Services at 7.1 % YoY (CC) and Technology and Services at 5.9% YoY (CC). In terms of geographies, the U.S. grew by 3.5% YoY (CC). India grew the fastest at 21.8% YoY (CC) while the Rest of the World grew by 11.4% YoY (CC).

The company revised its FY27 revenue growth guidance to 2.5%-4% YoY in CC and Services revenue growth guidance to 3%-4% YoY in CC. EBIT margin is expected to be between 17.5% and 18.5%. HCLTech announced a dividend of ₹12 per share for the quarter.

"HCLTech delivered Q2 FY27 revenue of ₹35,620 crores, up 3% QoQ and 11.5% YoY. Our superior revenue growth with improved profitability led to our highest-ever quarterly net income of ₹5,132 crores, up 11% QoQ and 21.2% YoY," said Shiv Walia, Chief Financial Officer, HCLTech.

The company added 6,450 people to its workforce, including 6,136 freshers, during Q2, FY27. Gender diversity reached 30% during the quarter.

HCLTech also announced a Global Premier Partnership with Anthropic to accelerate enterprise adoption of Agentic AI with a focus on safety, cybersecurity and governance. HCLTech's services teams will build industry solutions and offerings powered by Claude, Cowork and Claude Code, while HCLSoftware, as an Anthropic ISV partner, will embed these into select enterprise products.

Key Advanced AI deal wins:

• A U.S.-based AI-native company selected HCLTech as a strategic partner for its AI Factory.
• A U.S.-based neocloud provider selected HCLTech to build and scale its AI-native architecture and infrastructure capabilities that enable hyperscalers and enterprises to unlock the full potential of AI at scale.
• A Europe-based manufacturing company selected HCLTech to transform quality assurance at scale with an AI-powered visual inspection platform, VisionX.

Other key deal wins:

• A Europe-headquartered, Fortune Global 50 firm selected HCLTech to establish an AI-driven operating model to transform and manage its Global Digital Workplace and Enterprise Networks.
• A Europe-based FMCG major selected HCLTech to transform its global IT operations through a unified, AI-led operating model spanning applications, cloud and networks, digital workplace and cybersecurity.
• A global aerospace and defense major selected HCLTech to provide full lifecycle managed services for its SAP S/4HANA landscape, including ERP application project delivery, support and maintenance.

HCLTech has been named to TIME's World's Best Companies list for the third consecutive year. It has also been named among Forbes' World's Best Employers and World's Best Management Consulting Firms, while Newsweek recognized it among America's Greatest Workplaces for Leadership and America's Greatest Workplaces for Perks & Benefits.

About HCLTech

HCLTech is a global technology company, home to more than 230,000 people across 60+ countries, delivering industry-leading capabilities centered around AI, digital, engineering, cloud and software, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Semiconductor, Telecom and Media, Retail and CPG, Mobility and Public Services. Consolidated revenues as of 12 months ending September 2026 totaled $14.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.

For further details, please contact:

Meredith Bucaro, Americas
[email protected]

Elka Ghudial, EMEA
[email protected]

James Galvin, APAC
[email protected]

Nitin Shukla, India
[email protected]

SOURCE HCLTech