HCLTech Reports Robust Q1 FY27 Performance with 13.9% YoY Revenue Growth and $2.4Bn in New Deal Wins

HCLTech Reports Robust Q1 FY27 Performance with 13.9% YoY Revenue Growth and $2.4Bn in New Deal Wins​

HCLTech has reported a steady performance for the first quarter of Fiscal Year 2027 (Q1 FY27), reflecting strong growth in AI-led transformations and significant new business wins. The company announced consolidated revenue of ₹34,579 Cr, marking a 13.9% year-over-year (YoY) increase, while Net Income rose 20.3% YoY to ₹4,624 Cr.

The company recorded substantial Q1 net new bookings at $2,407 million, demonstrating enterprise commitment to its AI transformation services. Advanced AI revenue specifically grew by 10.6% QoQ and 62.1% YoY in constant currency terms (CC).

Key Financial Highlights for Q1 FY27​

HCLTech maintained operational efficiencies, with the EBIT margin reported at 16.9%, showing a notable increase of 56 bps YoY and 39 bps QoQ. Net Income stood at ₹4,624 Cr, translating to Earnings Per Share (EPS) of ₹66.90, up 6.9% YoY. The company also indicated plans for future growth, with guidance provided for FY27 showing potential revenue growth between 1.0% and 4.0%.

A summary of the key financial indicators is provided below:


EBIT Margin and Net Income Margin reflect the impact of restructuring costs incurred across various quarters.

Divisional Performance and Client Metrics​

The Services business achieved a 3.5% growth in Constant Currency (CC), while overall HCLTech revenue showed a modest (0.5%) decline QoQ in CC. The company’s segment breakdown reflected varied trends, with IT and Business Services maintaining a strong position at 75.3%, showing 4.2% YoY CC growth. Engineering and R&D services stood at 16.5%.

In terms of client engagement, the company's customer base saw steady expansion. The number of clients earning $1M+ increased to 987, achieving an 11% QoQ rise. Clients with $20M+ increased from 149 to 155, a 6% increase QoQ.

Global Reach and Sectoral Strength​

The Services revenue mix showed stable performance across geographic segments, with the USA maintaining at 56.0%. Europe’s share rose slightly to 27.6%, while the Rest of World (ROW) grew strongly at 13.1%. Vertically, Public Services recorded a strong 12.0% YoY CC growth, standing alongside Financial Services (5.3%).

Leadership Perspective and Operational Strength​

Commenting on the results, CVijayakumar, CEO & MD of HCLTech, noted that the record high Q1 net new bookings and the growth in Advanced AI business demonstrated enterprises choosing the company to lead their AI-led transformation. Shiv Walia, CFO, highlighted the steady performance across the quarter, reporting an EBIT growth of 18.0% YoY and a Cash Conversion ratio (OCF/NI) at 111%. He also noted that Long-Term Margin (LTM) ROIC reached 40.7%, marking a 257 bps improvement YoY.

Roshni Nadar Malhotra, Chairperson HCLTech, emphasized AI's accelerating role in global enterprise transformation and reiterated the focus on upskilling employees by embedding AI across the organization.

Key Deal Wins and Awards​

The company secured several major deal wins during Q1 FY27 across various industries, including a European automotive manufacturer for an AI-led Site Reliability Engineering (SRE) transformation, a U.S.-based telecommunications services provider to enhance cybersecurity resilience, and a global technology company tasked with transforming its worldwide skilling platform using AI and automation.

HCLTech continued to receive numerous accolades in Q1 FY27. The company was recognized by Forbes as one of America's Best Employers for New Grads. It also earned the MSCI AA (Leader) ESG Rating and ranked 6th out of 209 companies in ESG risk rating by Sustainalytics. Furthermore, HCLSoftware received A Strong Performer status in The Forrester Wave on Endpoint Management Platforms.

Human Capital and Innovation​

The company's workforce stood at 223,889 people as of June 30, 2026. Revenue per employee reached $65.5K for the quarter, showing a modest increase of 0.7% QoQ. The Intellectual Capital metrics reflected continued investment in technology, with 18 patents filed and 14 granted during Q1 FY27.

HCLTech also maintained its positioning as a leader across several critical areas, including Everest Group's Google Cloud Services PEAK Matrix® Assessment 2026 and Avasant's Digital Commerce Services 2026 RadarView™.

HCLTECH Stock Price Movement​

HCL Technologies Limited shares climbed today, finishing at ₹1221.20 after gaining 5.15% in post-market trading. The stock witnessed robust activity during the closeout session as approximately 9 million shares were traded.