HCLTech FY26 revenue up 3.9%, led by increasing demand for Advanced AI
Annualized Advanced AI revenue at $620M; FY26 services revenue up 4.8% in CC; TCV of new deal wins at $9.3B
NEW YORK and NOIDA, India, April 21, 2026 /PRNewswire/ -- HCLTech, a leading global technology company, today reported financial results for the fourth quarter and the full year ended March 31, 2026.
FY26 revenue grew 3.9% in constant currency (CC). USD revenue came in at $14.7 billion, up 6% YoY. Services revenue grew 4.8% YoY in CC, led by steady momentum in IT and Business Services, which grew at 3.7% YoY in CC, and growth of 9.8% YoY in CC for Engineering and R&D Services. Total contract value (TCV) for new deal wins in the year totaled $9.3 billion. HCLSoftware's annual recurring revenue stood at $1.05 billion, down 0.5% CC.
"HCLTech delivered superior revenue growth of 3.9% in constant currency … in a year marked by an uncertain demand environment … Our new AI-led service offerings are getting traction in the market and this is reflected in annualized Advanced AI revenues crossing $620 million in Q4. Our number one priority in FY27 is to ensure the company is positioned right to take advantage of AI opportunities for multi-decade value creation," said C Vijayakumar, CEO & Managing Director, HCLTech.
Industry vertical growth was led by Technology and Services, with 15% YoY (CC) growth, followed by Financial Services at 7.5% YoY (CC) and Telecommunications, Media, Publishing & Entertainment at 5.2% YoY (CC). In terms of geographies, India recorded a strong growth of 5.7% YoY (CC), Europe grew by 4.5% YoY (CC) and the U.S. grew by 2.3% YoY (CC). The Rest of the World grew the fastest at 17.8% YoY (CC).
The company expects FY27 revenue growth to be between 1.0% and 4.0% 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 announced a dividend of ₹24/share for the fourth quarter, bringing the total to ₹60/share for FY26.
"HCLTech delivered resilient FY26 results with revenues at ₹130,144 crores, up 11.2% YoY and EBIT at ₹22,397 crores (17.2% of revenue), up 4.6% YoY… Excluding the impact of restructuring costs, EBIT and Net Margin came in at 17.9% and 13.8%, respectively," said Shiv Walia, Chief Financial Officer, HCLTech.
HCLTech added 1,712 freshers during the quarter, taking the fresher addition in the full year to 11,744. The last twelve months (LTM) attrition was at 12.5%, down from 13.0% in Q4 of last year.
Key Advanced AI deal wins:
- A global technology major selected HCLTech for another AI Factory program worth over $100 million. HCLTech's solutions will fast-track the client's requirement of building and operating next-generation AI data centers.
- A U.S.-based global semiconductor company selected HCLTech's AI Engineering services to support the physical design of its next-generation platforms.
- A global aerospace major selected HCLTech to build an AI-enabled digital simulation environment for aircraft cargo operations, leveraging photorealistic visualization, physics-based modeling and synthetic data generation using precise CAD inputs.
Other key deal wins:
- A Europe-based global luxury fashion major selected HCLTech to accelerate AI-led transformation across its finance, human resources, manufacturing, supply chain and retail operations.
- A U.S.-based global MedTech company selected HCLTech to set up a state-of-the-art Cybersecurity Center of Excellence.
- The U.S. subsidiary of a global semiconductor group selected HCLTech to provide end-to-end firmware development and sustenance services.
- A European public sector entity extended its partnership with Actian to strengthen data governance. Leveraging Actian offerings of Ingres, OpenROAD and Zeenea, the engagement will enhance data integrity, transparency and control for the client.
During the quarter, HCLTech was included in Fortune's World's Most Admired Companies 2026 list. It was recognized as one of the World's Most Ethical Companies® by Ethisphere for the third consecutive year and was included in the S&P Global Sustainability Yearbook for the fourth year in a row.
About HCLTech
HCLTech is a global technology company, home to more than 227,000 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 March 2026 totaled $14.7 billion. To learn how we can supercharge progress for you, visit hcltech.com.
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