HCLTech's Advanced AI Revenue Hits $219 Mn as FY27 Guidance Tightens

HCLTech reported Advanced AI revenue of $219 million in Q2 FY27, up 28.4% quarter-on-quarter and 78% year-on-year in constant currency. The IT firm’s revenue from operations reached ₹35,620 crore, up 11.5% in rupee terms and 2.6% in constant currency year-on-year.

The IT services company raised the lower end of its FY27 revenue growth guidance from 1% to 2.5%, retaining the upper end at 4%. It expects services revenue to grow 3–4% in constant currency and retained its earnings before interest and tax (EBIT) margin guidance at 17.5–18.5%.

HCLTech CEO and Managing Director C Vijayakumar said in a statement that the company had delivered $3.3 billion in new deal wins, up 27% YoY, taking first-half bookings to a record high. He added that its “AI propositions are resonating well with our clients”.

Some of the key advanced AI deals during the quarter included building an AI factory for a US-based AI-native company, building and scaling AI-native architecture and infrastructure of a US neocloud provider, and using its AI-powered visual inspection platform VisionX to transform quality assurance at a European manufacturing company.

On October 12, HCLTech also announced a global partnership with Anthropic to expand enterprise adoption of agentic AI. It plans to establish a dedicated Anthropic business unit and Centre of Excellence, develop industry solutions using Claude, Cowork, and Claude Code, and embed Claude capabilities in selected HCLSoftware products. 

HCLTech is also targeting mid-sized businesses through Pulse, a dedicated unit for companies with annual revenue of $500 million to $5 billion. The unit has a separate business model and delivery structure for this market, as part of the company's strategy to expand its reach among mid-sized businesses.

HCLTech's services business, which includes IT and business services as well as engineering and research and development services, grew 3% quarter-on-quarter and 4% year-on-year in constant currency. HCLSoftware revenue fell 5.8% sequentially and 11.2% YoY in constant currency. Software accounted for 7.9% of total revenue, down from 9.1% a year earlier.

Net income rose 21.2% YoY to ₹5,132 crore in the July to September 2026 quarter. EBIT margin reached 18.2%, up from 16.9% in the previous quarter. HCLTech reported a 131-basis-point sequential margin expansion, including an 84-basis-point impact from restructuring costs.

At the end of the quarter, its headcount stood at 230,339, with 6,450 net additions. The company noted that women employees now account for 30% of its workforce.

HCLTech’s shares were up 5.36% at 10:37 am on October 13, trading at ₹1,288.6 apiece.