HCLTech delivers robust Q1 led by record deal bookings of $2.4 billion
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Advanced AI revenue grows 62.1% to $171 million; company plans to invest up to ₹3,500 crore to establish AI data centers
NEW YORK and NOIDA, India, July 14, 2026 /PRNewswire/ -- HCLTech (NSE: HCLTECH) (BSE: HCLTECH), a leading global technology company, today reported financial results for the first quarter ended June 30, 2026. USD revenue was at $3.65 billion, up 3% YoY, while revenue in constant currency (CC) grew 2.6% YoY.
"We recorded our highest ever Q1 net new bookings of $2.4 billion and our Advanced AI business grew 10.6% QoQ and 62.1% YoY in constant currency terms. These demonstrate that enterprises are choosing us to lead their AI-led transformation. Combined with the operational efficiencies visible in margin expansion, this momentum gives us the confidence we're positioned to keep outpacing the market over the medium term," said C Vijayakumar, CEO & Managing Director, HCLTech.
Services revenue growth was led by a steady momentum in IT and Business Services, which grew at 4.2% YoY in CC. HCLSoftware's annual recurring revenue stood at $1.06 billion, up 2% YoY CC. Advanced AI revenue for the quarter was at $171 million. The revenue per employee per annum was at $65,500, up 3.3% YoY.
Industry vertical growth was led by Public Services, with 12% YoY (CC) growth, followed by Retail and Consumer Packaged Goods at 10.1% YoY (CC) and Technology and Services at 7.3% YoY (CC). In terms of geographies, the U.S. grew by 2.9% YoY (CC) and Europe grew by 0.1%. The Rest of the World grew by 10.8% YoY (CC).
HCLTech also announced a plan to invest up to ₹3,500 crore ($370 million appx) to establish AI data centers, with the potential to scale to 50MW of capacity. The investment is complemented by the company's existing capabilities across AI data center design, DevOps and AI cloud operations as well as its software portfolio, enabling a truly integrated end-to-end play.
HCLTech announced a dividend of ₹12/share for the quarter. The company maintained guidance on FY27 revenue growth of 1% to 4% YoY in CC and Services revenue growth between 1.5% and 4.5% YoY in CC. EBIT margin is expected to be between 17.5% and 18.5%.
"HCLTech delivered a steady Q1 FY27 performance, with revenue growth of 13.9% YoY, EBIT growth of 18.0% YoY and Net Income growth of 20.3% YoY. Excluding the impact of restructuring costs, EBIT margin and Net Income margin stood at 17.5% and 13.8%, respectively," said Shiv Walia, Chief Financial Officer, HCLTech.
Key Advanced AI deal wins:
- A global technology major expanded its partnership with HCLTech for an AI Factory program with an incremental scope of over $180 million for AI data center buildout.
- A U.S.-based semiconductor major selected HCLTech's AI Engineering solution to develop an advanced AI-enabled chip for next-generation vehicles.
- A Europe-based manufacturer selected HCLTech to engineer the navigation stack for its next-generation autonomous robot. HCLTech will apply its Physical AI and intelligent Product Engineering capabilities to deliver core navigation logic, motion planning and system integration for the product.
Other key deal wins:
- A Europe-based global automotive manufacturer selected HCLTech for a large-scale AI-led Site Reliability Engineering (SRE) transformation program across Engineering, Production, Commercial and Corporate application landscapes.
- A Fortune 250 semiconductor equipment OEM selected HCLTech to accelerate AI-driven transformation across its semiconductor engineering and manufacturing value stream.
- In one of the largest deals in the history of HCLSoftware, a US-based technology services company selected Actian Ingres to support logistics operations applications for a public sector entity.
HCLTech has been recognized as the highest-ranked India-headquartered company in the Professional Services category in TIME World's Most Sustainable Companies list for the second consecutive year. It has been ranked 6th out of 209 'IT consulting' companies in ESG risk rating by Sustainalytics. The company has also achieved MSCI AA (Leader) ESG rating for strong ethics and human capital practices for two years in a row.
HCLTech was featured among Asia's Most Honored in Extel's 2026 Executive Team rankings. It achieved 10 top 3 rankings in the Technology IT Services Software and AI segment, of which six were No. 1 position.
About HCLTech
HCLTech is a global technology company, home to more than 223,000 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 June 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
meredith-bucaro@hcltech.com
Elka Ghudial, EMEA
elka.ghudial@hcltech.com
James Galvin, APAC
james.galvin@hcltech.com
Nitin Shukla, India
nitin-shukla@hcltech.com
source: HCLTech