HCLTech, a leading global technology company, posted a steady performance in the second quarter of FY26, delivering 4.6% year-on-year revenue growth in constant currency. Revenue for the quarter stood at USD 3.6 billion, marking a 5.8% increase YoY, backed by healthy demand across service lines and continued traction in digital transformation offerings. The company revised its Services revenue growth guidance to 4%–5% in constant currency, while maintaining its overall revenue and margin outlook for the full year.
“Our Q2 results reflect all-round strength — powered by exceptional execution, rising adoption of our advanced AI offerings, and AI-related revenues surpassing USD 100 million this quarter,” said C Vijayakumar, CEO & Managing Director, HCLTech. “AI is now a tangible growth engine for us. This quarter, our new deal bookings crossed USD 2.5 billion, achieved without dependence on mega deals, underscoring the breadth and quality of our pipeline.”
HCLTech delivered a strong business performance in Q2 FY26, driven by consistent growth across its key revenue streams. Services revenue grew 5.5% year-on-year in constant currency, underscoring the company’s execution strength and diversified portfolio. Digital revenue rose 15% YoY, now contributing 42% of total Services revenue, reflecting the growing demand for digital transformation offerings. Meanwhile, HCLSoftware’s Annual Recurring Revenue reached USD 1.06 billion, maintaining its upward momentum.
Across industry segments, Technology and Services recorded the highest growth at 13.9% YoY, followed by Telecommunications, Media, Publishing & Entertainment at 11.7%, and Financial Services at 11.4% (in constant currency). This broad-based growth highlights HCLTech’s ability to address evolving client needs across diverse sectors with a strong mix of services and platforms.
From a geographic perspective, Europe grew 7.6% YoY, supported by new client engagements and expansion within existing accounts. The Rest of the World (RoW) region delivered the fastest growth at 17.9% YoY, while the U.S. business expanded by 2.4% YoY, reflecting steady performance in the company’s largest market. The Board approved a dividend of ₹12 per share, marking 91 consecutive quarters of dividend payouts, underscoring HCLTech’s commitment to consistent shareholder returns.
Commenting on the financial performance, Shiv Walia, Chief Financial Officer, HCLTech, said, “HCLTech delivered INR revenue growth of 5.2% quarter-on-quarter and 10.7% year-on-year in Q2 FY26, supported by higher profitability and strong cash flows. Our last twelve months’ FCF to Net Income ratio stood at 125%, while ROIC improved to 38.6%, up 290 basis points year-on-year. For the Services business, ROIC reached 45.3%, reflecting enhanced capital efficiency.” The company added 5,196 freshers during the quarter, taking the total intake for H1 FY26 to 7,180, while attrition declined to 12.6%, one of the lowest in the industry.
The quarter also saw significant deal momentum. A leading U.S.-based vacation ownership and resort management company expanded its partnership with HCLTech to modernize finance, accounting, and mortgage operations using AI-powered digital solutions. A global consumer goods major from the U.S. selected HCLTech as its strategic partner to manage enterprise applications and infrastructure across multiple functions. In Europe, a major retail company chose HCLTech to revamp its omnichannel application landscape using AI Force, creating a seamless, digital-first experience across physical and online channels.
AI-led engagements gained further traction during the quarter. A UK financial services firm partnered with HCLTech to upgrade its digital banking platforms using AI to boost speed, resilience, and customer experience. An Australian public sector transport authority implemented a Physical AI solution for real-time waterway safety monitoring. A U.S. manufacturing major worked with HCLTech to establish an AI governance framework to scale AI responsibly, while a leading U.S. telecom company collaborated with HCLTech to launch an NVIDIA-powered Emerging Tech AI Lab, deploying next-generation models like Llama 405B, Maverick, and Scout to accelerate enterprise-wide AI adoption.
HCLTech’s excellence was recognized globally during the quarter. The company received dual honors from TIME magazine — it was named the highest-ranked India-headquartered technology company for the second consecutive year on the World’s Best Companies 2025 list and featured among the Top 15 in Professional Services in the World’s Most Sustainable Companies 2025 rankings. These accolades reaffirm HCLTech’s leadership in innovation, sustainability, and global delivery excellenc
HCLTech is a global technology company with over 226,600 employees across 60 countries. The company offers industry-leading expertise in AI, digital, engineering, cloud, and software, serving clients across financial services, manufacturing, life sciences, semiconductors, telecom, retail, mobility, and the public sector. Consolidated revenues for the 12 months ending September 2025 stood at USD 14.2 billion.
