HCLTech lifts FY27 revenue growth outlook to 2.5–4%

what happened

HCLTech raised its FY27 constant-currency revenue growth guidance to 2.5–4%, from the previous 1–4% range. The company narrowed its services revenue growth outlook to 3–4%, versus 1.5–4.5% earlier, while keeping its EBIT margin guidance at 17.5–18.5%. CNBC TV18 reported that consolidated net profit for the July–September quarter rose 11% sequentially and 21.2% year on year to ₹5,132 crore. That was above the CNBC-TV18 poll estimate of ₹4,963 crore. Revenue increased 3% quarter on quarter and 11.5% year on year to ₹35,620 crore, just below the ₹35,819 crore estimate. Constant-currency growth was 2.3% sequentially and 2.6% year on year.

Dollar revenue rose 2% from the previous quarter, from $3,650 million to $3,724 million, but missed the $3,747 million poll estimate. EBIT climbed 10.9% sequentially to ₹6,465 crore, ahead of the ₹6,393 crore estimate. EBIT margin widened to 18.2% from 16.9%, including an 84-basis-point impact from restructuring costs.

HCLTech Chief Executive Officer and Managing Director C Vijayakumar said new bookings reached $3.3 billion, up 27% year on year, taking first-half bookings to a record level. Services revenue grew 3% sequentially, while Advanced AI revenue increased 28.4% quarter on quarter and 78% year on year in constant-currency terms, reaching $219 million. New deal bookings in the September quarter totaled $3.258 billion. Chairperson Roshni Nadar Malhotra said accelerating Advanced AI revenue validated the company’s strategy, while partnerships and investments across the AI stack supported its role as a technology partner for enterprises and governments globally.

IT and business services revenue grew 2.7% sequentially and 4.4% year on year in constant-currency terms. Engineering and R&D services increased 4.1% and 2.1%, respectively, while HCLSoftware revenue declined 5.8% quarter on quarter and 11.2% year on year. Services revenue overall rose 3% sequentially and 4% year on year. Financial services revenue grew 7.1%, retail and CPG 14%, manufacturing 3.9%, and technology and services 5.9%. Life sciences and healthcare, as well as telecommunications, media, publishing and entertainment, each declined 2.1%.

HCLTech had 230,339 employees as of September 30, 2026, after adding 6,450 people during the quarter, including 6,136 freshers. Last-twelve-month attrition was 12.8%, compared with 12.7% in the prior quarter. The board recommended an interim FY27 dividend of ₹12 per share. Chief Financial Officer Shiv Walia said last-twelve-month ROIC reached 41.2%, up 261 basis points year on year, while services ROIC rose to 49.4%, an increase of 411 basis points. HCL Technologies shares ended 0.5% higher at ₹1,223 ahead of Monday’s results. The stock is down more than 25% in 2026 and 18% over the past 12 months.

why it matters

The higher outlook, record bookings and wider margin point to stronger operating momentum at HCLTech. However, dollar revenue and the full-year share performance remain weaker areas, creating a mixed market signal.

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