HCLTech delivers robust Q1 led by record deal bookings of $2.4 billion

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 13, 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.