HCL Technologies Ltd

HCL Tech Q1 FY27: Record $2.4B Bookings & AI Revenue Surges 62% YoY 📈

• Net new Total Contract Value (TCV) bookings for Q1 were $2.4 billion, the highest ever Q1 bookings.

• Advanced AI revenue for Q1 FY27 stood at $171 million, growing 10.6% QoQ and 62.1% YoY.

• Total revenue for Q1 was $3,650 million, a decline of 0.5% QoQ and growth of 2.6% YoY in constant currency.

• Operating margin (EBIT) was 16.9%, an improvement of 39 bps QoQ and 56 bps YoY.

• HCL Software Annual Recurring Revenue (ARR) reached $1.063 billion, a 2% increase YoY in constant currency.

• Headcount as of June 30, 2026, was 223,889, a decrease of 3,292 sequentially. LTM attrition stood at 12.7%.

• Revenue per employee increased 3.3% YoY, marking growth for the fifth consecutive quarter.

• AI Force platform is now deployed across 92 distinct client accounts.

• The company announced a strategic investment of up to INR 3,500 crores to enter the AI datacenter business, with a long-term plan to scale to 50 megawatts of capacity.

• A strategic investment of $150 million was made in Sarvam, an Indian sovereign AI company.

• Guidance for FY27 is retained at 1% to 4% organic revenue growth and an EBIT margin of 17.5% to 18.5%.