HCL Technologies Annual Revenues up by 24.1 % YoY; Quarterly Revenues up by 21.5% YoY and 7.7% Sequentially; US Annual Revenues up by 24.4% YoY and Quarterly Revenues up by 11.3 %

NOIDA, India, July 29, 2010 /PRNewswire-FirstCall/ -- HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the year and quarter ended June 30 2010. For the full year, HCL's global revenues increased by 24.1% to $2.7 Billion. During the quarter, HCL posted strong growth with global revenues increasing by 21.5% YoY to $738 Million.

HCL's US business posted a revenue increase of 24.4% YoY in FY10 and 11.3 % QoQ in the last quarter. The results demonstrate increasing market recognition of the value HCL delivers to its customers in the U.S. and validates HCL's Go-To-Market (GTM) strategy in the geography, which encompasses an integrated horizontal, sector and geographic focus.

Commenting on the results, Dr. Shami Khorana, President, HCL Americas said, "With more than 18 offices in 15 states, the Americas have contributed $ 1.6 Billion which is about 60 percent of HCL Technologies' total worldwide consulting and IT services revenues. We continue our long-standing commitment to the U.S. We have signed some significant deals in the areas of applications development, support, and infrastructure management with leading global organizations. We also completed our first successful year of operations in Brazil, which is an important 'emerging market' for HCL. We have also expanded our infrastructure footprint in this region by setting up a multilingual service desk facility to support global and local customers in Rio Grande do Sul."

Additional HCL Americas Highlights for FY10:

HCL invested in a next-generation green data center in Parsippany, New Jersey, further expanding its U.S. delivery footprint and increasing investments in the U.S. The facility enables end-to-end data center services including near-shore co-location solutions, business continuity planning, and cloud computing and mainframe management services.

HCL continued to expand its strategic relationship with Boeing and will be creating critical software for the 787 Dreamliner launch and flight test. HCL Technologies is Boeing's 787 software partner, developing subsystems for Boeing's Tier-1 & Tier-2 partners. In addition, HCL reengineered the flight test system that is being used for certification and regulatory approvals for Boeing 787.

HCL celebrated five successful years of partnership with Merck, one of the world's largest pharmaceutical companies. HCL is collaborating with Merck on leveraging technology for operational and business impact. A portion of the services delivery is to be managed from its Raleigh, North Carolina center.

HCL was included on the fourth annual WorldBlu List of Democratic Workplaces, sponsored by WorldBlu, a non-profit company specializing in organizational democracy.

CEO Vineet Nayar continued to articulate HCL's innovative management philosophies through his new book titled, "Employees First, Customers Second," which tells the story of how HCL turned conventional management thinking on its head to revitalize and transform performance in the age of Gen Y, social media, and increasing transparency between management and employees.

    Q4 FY 2010 Financial Highlights for HCL Technologies

    - Revenue at US$ 738 Million; up 21.5% YoY and up 7.7% sequentially
    - Revenue on constant currency basis was up 9.1% sequentially
    - Net Income at US$ 74 Million; up 6.9% YoY
    - Net headcount additions of 6,428 were made taking total headcount to
      64,557


    Q4 FY 2010 Financial Highlights for US

    - US business posts revenue growth of 24.4% YoY in FY10
    - US business posts 11.3% QoQ revenue growth in Q4 of FY10

About HCL

HCL is a $5 billion leading global Technology and IT Enterprise that comprises two companies listed in India - HCL Technologies & HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups, a pioneer of modern computing, and a global transformational enterprise today. Its range of offerings spans Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products across a wide range of focused industry verticals. The HCL team comprises over 64,000 professionals of diverse nationalities, who operate from 26 countries including over 500 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit http://www.hcl.in

About HCL Technologies

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employee First' which empowers our 64,557 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.7 billion (Rs. 12,565 crores), for the year ended on 30th June 2010. For more information, please visit http://www.hcltech.com

Forward-looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned,' 'expects,' 'believes,' 'strategy,' 'opportunity,' 'anticipates,' 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

    For details contact
    HCL Technologies
    Kirsten Paragona
    Phone: +1-857-350-5393
    Email: [email protected]

    Ajay Davessar
    Mob: +919650122336
    [email protected]

    BluePoint Marketing for HCL Technologies
    Tim Hurley or Jill Newberry
    Phone: +1-781-861-7800
    E-mail: [email protected] or
    [email protected]

SOURCE HCL Technologies