HCLTech Delivers Robust Performance in Q2FY26 with Revenue Growth of 4.6%

Deal wins at $2.6B; Advanced AI revenue crosses $100m

HCLTech, a leading global technology company, reported 4.6% YOY revenue growth in constant currency (CC) for the quarter ended September 30, 2025. USD revenue was at $3.6 billion, up 5.8% YoY. The company revised its Services Revenue growth (CC) guidance to 4%-5%, while retaining the overall revenue and margin guidance for FY26.

“We had a standout quarter on every front — marked by strong execution, growing demand for our AI-powered solutions and Advanced AI revenue exceeding $100 million this quarter. Our AI strategy is no longer just a vision; it is now a measurable driver of growth, differentiation and innovation. We are transitioning into an AI monetization phase. For the first time, our new bookings surpassed $2.5 billion, without reliance on any mega deal,” said C Vijayakumar, CEO & Managing Director, HCLTech.

HCLTech’s Services revenue grew by 5.5% YoY (CC). Digital revenue was up 15% YoY (CC) and now accounts for 42% of Services revenue. HCLSoftware’s Annual Recurring Revenue, at $1.06 billion, continues to grow.

Industry vertical growth was led by Technology and Services at 13.9% YoY growth (CC), followed by Telecommunications, Media, Publishing and Entertainment at 11.7% YoY (CC) and Financial Services at 11.4% YoY (CC). In terms of geographies, Europe grew at 7.6% YoY (CC) while the Rest of the World grew the fastest at 17.9% YoY (CC). The U.S. grew by 2.4%.

The company announced a dividend of ₹12 per share for the quarter, marking the 91st consecutive quarter of dividend payouts.

“HCLTech delivered strong INR revenue growth of 5.2% QoQ and 10.7% YoY in Q2 FY26. This superior revenue growth is accompanied by enhanced profitability and solid cash generation, with the last twelve months (LTM) FCF/NI ratio at 125%. We remain committed to improving our capital efficiency and are pleased to report LTM ROIC for the company is 38.6%, up 290 bps YoY and for Services business is 45.3%, up 180 bps YoY,” added Shiv Walia, Chief Financial Officer, HCLTech.

The company added 5,196 freshers during the quarter, taking the H1 fresher addition to 7,180. The LTM attrition moderated to 12.6%, among the lowest in the industry.

Key deal wins:

• A leading US-based vacation ownership and resort management company expanded its partnership with HCLTech to modernize and transform its finance, accounting and mortgage operations with AI-powered digital solutions.
• A US-based global consumer goods major selected HCLTech as its strategic partner to manage a large portfolio of enterprise applications and infrastructure across commercial, supply chain and corporate functions.
• A Europe-based global retail major selected HCLTech to modernize its multi-channel application landscape. HCLTech’s solution will leverage AI Force to deliver a digital-first, future-ready platform that will enable seamless customer experiences across online and in-store channels.

Key AI deal wins:

• A UK-based financial services major selected HCLTech to modernize its digital banking platforms and boost productivity. The solution uses AI Force to automate and augment the software development lifecycle, enabling faster time-to-market, improved platform resilience and superior digital experiences for its users.
• A public sector transport authority in Australia selected HCLTech to enhance safety and compliance across waterways using a computer vision-based Physical AI solution. Built on HCLTech AI Foundry, the solution enables real-time detection of congestion, unsafe behavior and hazards at boat ramps, reducing response times and preventing accidents.
• A US-based global manufacturer selected HCLTech AI Advisory services to build an Enterprise AI and Governance framework to scale AI initiatives with measurable ROI, regulatory compliance and Responsible AI principles.
• A leading US-based telecom company selected HCLTech to launch an NVIDIA-powered Emerging Tech AI Lab. HCLTech is delivering advanced Cognitive Infrastructure Services, setting up a high-performance AI cluster and deploying state-of-the-art models such as Llama 405B, Maverick and Scout. This scalable, future-ready platform enables rapid AI experimentation and enterprise-wide AI adoption, reducing time-to-market and driving transformation.

HCLTech received dual recognition from TIME magazine: Highest-ranked India-headquartered technology company for the second consecutive year in the World’s Best Companies 2025 list and ranked among the top 15 in Professional Services in the World’s Most Sustainable Companies 2025 list.

About HCLTech

HCLTech is a global technology company, home to more than 226,600 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, High Tech, Semiconductor, Telecom and Media, Retail and CPG, Mobility and Public Services. Consolidated revenues as of 12 months ending September 2025 totaled $14.2 billion. To learn how we can supercharge progress for you, visit hcltech.com.

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