HCLTech raises FY27 revenue growth guidance to 2.5-4%; Q2 profit beats estimates

HCLTech raised its FY27 revenue growth guidance to 2.5-4% in constant currency (CC) terms, from its earlier forecast of 1-4%, while narrowing its services revenue growth guidance to 3-4% from 1.5-4.5%. The company retained its earnings before interest and tax (EBIT) margin guidance at 17.5-18.5%. The information technology (IT) services major reported a consolidated net profit of ₹5,132 crore for the July-September quarter, up 11% quarter-on-quarter (QoQ) and 21.2% year-on-year (YoY).

The profit figure beat the CNBC-TV18 poll estimate of ₹4,963 crore. Revenue rose 3% sequentially and 11.5% YoY to ₹35,620 crore, marginally below the CNBC-TV18 poll estimate of ₹35,819 crore. In constant currency terms, revenue grew 2.3% QoQ and 2.6% YoY.

In dollar terms, revenue rose 2% quarter-on-quarter (QoQ) to $3,724 million from $3,650 million in the previous quarter, but fell short of the CNBC-TV18 poll estimate of $3,747 million. EBIT increased 10.9% QoQ to ₹6,465 crore, beating the poll estimate of ₹6,393 crore. EBIT margin expanded 131 basis points sequentially to 18.2%, compared with 16.9% in the previous quarter.

The margin includes the impact of restructuring costs of 84 basis points. HCLTech Chief Executive Officer and Managing Director C Vijayakumar said, “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 3.0% QoQ with growth across verticals and geographies, while overall revenue grew 2.3% QoQ.

Advanced AI revenue grew 28.4% QoQ and 78.0% YoY in constant currency,” Vijayakumar said, adding that the company's artificial intelligence (AI) offerings were resonating well with clients and giving it confidence in its growth trajectory. HCLTech's AI revenue, deal wins Revenue from advanced AI services stood at $219 million, rising 28.4% sequentially and 78% YoY in constant currency terms. HCLTech reported new deal bookings of $3.258 billion in the September quarter, up 27% YoY.

First-half bookings reached a record high, according to the company. Chairperson Roshni Nadar Malhotra said, “The accelerating growth in Advanced AI revenue validates our business strategy.” She added that strategic partnerships and investments across the AI stack positioned HCLTech to serve as a technology partner for enterprises and governments globally. HCLTech Q2 segment performance IT and business services revenue grew 2.7% QoQ and 4.4% YoY in constant currency terms.

Engineering and research and development (R&D) services revenue increased 4.1% sequentially and 2.1% YoY, while HCLSoftware revenue declined 5.8% QoQ and 11.2% YoY in constant currency terms. Services revenue, which combines IT and business services with engineering and R&D services, grew 3% QoQ and 4% YoY in constant currency terms. By vertical, financial services revenue grew 7.1% YoY in constant currency terms, while retail and consumer packaged goods (CPG) rose 14%.

Manufacturing grew 3.9%, and technology and services increased 5.9%. Lifesciences and healthcare, as well as telecommunications, media, publishing and entertainment, declined 2.1% each. HCLTech workforce and dividend HCLTech's total employee count stood at 230,339 as of September 30, 2026, with net additions of 6,450 during the quarter.

The company added 6,136 freshers. Last-twelve-month attrition stood at 12.8%, compared with 12.7% in the previous quarter. The board recommended an interim dividend of ₹12 per share for FY27.

Chief Financial Officer Shiv Walia said the company had delivered its highest-ever quarterly net income of ₹5,132 crore and that its focus on capital efficiency had taken its last-twelve-month return on invested capital (ROIC) to 41.2%, up 261 basis points YoY. ROIC for the services business stood at 49.4%, up 411 basis points YoY. Shares of HCL Technologies ended 0.5% higher at ₹1,223 ahead of the September quarter earnings results on Monday.

The stock has declined more than 25% so far in 2026 and 18% over the last 12 months. Also read: L&T Technology Services opens AI-native manufacturing lab with NVIDIA technologies Tags Home / Market News / HCLTech raises FY27 revenue growth guidance to 2.5-4%; Q2 profit beats estimates

Source: CNBC TV18