HCL Tech raises FY27 revenue guidance as Q2 profit beats estimates

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HCL Tech FY27 guidance and Q2 profit

Highlights

HCL Tech reported a 21.1% increase in consolidated net profit to Rs 5,132 crore and an 11.5% increase in revenue to Rs 35,620 crore in Q2 FY27.
The company raised its annual revenue growth guidance for FY27 to 2.5-4% on a constant-currency basis and declared an interim dividend of Rs 12 per share.
New deal bookings reached $3.3 billion in Q2, up 35% quarter-on-quarter and 27% year-on-year, with AI-based deals dominating.

This article was translated from the original. Read the original version by our correspondent here.

Quarterly results and upgraded guidance

According to Forbes India, HCL Tech reported a 21.1% increase in consolidated net profit to Rs 5,132 crore in Q2 FY27, while revenue rose 11.5% to Rs 35,620 crore. The company raised its annual revenue growth guidance for FY27 on a constant-currency basis to 2.5-4% from 1-4%.

The board declared an interim dividend of Rs 12 per share for the quarter, representing 88.6% of net income. The company said its advanced AI revenue rose 28.4% quarter-on-quarter and 78% year-on-year on a constant-currency basis to $219 million, or around Rs 2,094 crore, in Q2, while annualized advanced AI revenue stands at $876 million.

The services business grew 4.4% year-on-year and contributes about one-third of the overall revenue mix, while software revenue declined 11.2% and accounted for around 8%. Engineering and R&D revenue increased 2.1%.

HCL Tech CEO and Managing Director C Vijayakumar said the services business grew 3% sequentially during the quarter, equivalent to more than $100 million in additional revenue. According to him, around $50 million came from advanced AI and $50 million from the core business, where the company is gaining market share after addressing AI-driven pricing pressure.

Deal bookings, AI partnership and workforce impact

According to the company, new deal bookings reached $3.3 billion, up 35% quarter-on-quarter and 27% year-on-year. Vijayakumar described this as the second-highest booking level in the company's history and said AI is the central theme of these deals.

HCL Tech has also announced a global premier partnership with Anthropic, aimed at accelerating the adoption of agentic AI among enterprise clients. The company is establishing a dedicated Anthropic business unit and Center of Excellence to accelerate cloud deployments.

The company's global workforce reached 230,339, including a net addition of 6,450 employees during Q2. HCL Tech hired 6,136 freshers in Q2 FY27, 1,000 more than in the same quarter a year earlier, while the figure for the first half stands at 7,200 and fresher hiring for the full fiscal year is estimated at around 10,000. The company is also launching its annual salary review in October.

Chief Human Resources Officer Ram Sundararajan said, regarding the recent directive on the U.S. government's permanent labor certification program, PERM, that HCL Tech will comply with the Department of Labor's instructions and respond to any questions. He said the company has increased local hiring efforts over the past several years to build a strong domestic talent base, and because the number of PERM applications is small, the suspension is not expected to have any significant impact on the workforce or client engagement.

Our previous report discussed the emergence of India's AI and deep-tech ecosystem, where Peak XV's Rajan Anandan said the country is still at an early stage but could achieve global leadership over the next decade through computing capacity, indigenous models and application-layer startups. The article provided context that India's AI bets are becoming more serious and long-term, citing larger early-stage investment ticket sizes, AI capex announcements in 2026, and the responsibility for AI safety falling on the companies building the models.

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