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Advanced AI Business Annualized Revenue Reaches $620 Million; FY26 Service Revenue Grows 4.8% in Constant Currency; Total New Deal TCV at $9.3 Billion
NEW YORK and NOIDA, India, April 23, 2026 /PRNewswire/ — HCLTech, a leading global technology company, today announced its financial results for the fourth quarter and full year ended March 31, 2026.
Revenue for FY26 grew 3.9% in constant currency. In USD terms, revenue reached $14.7 billion, a 6% year-on-year increase. Service revenue grew 4.8% year-on-year in constant currency, driven by steady growth in IT & Business Services (up 3.7% YoY in CC) and a 9.8% YoY CC growth in Engineering and R&D Services. The Total Contract Value (TCV) of new deals for the year was $9.3 billion. The annual recurring revenue for HCL Software stood at $1.05 billion, down 0.5% YoY in constant currency.
C Vijayakumar, CEO and Managing Director, HCLTech, said: “In a year of uncertain demand environment, HCLTech delivered a strong revenue growth of 3.9% in constant currency… Our new AI-led offerings are gaining strong market traction, reflected in the Q4 annualized revenue for our advanced AI business crossing $620 million. In FY27, our priority is to position the company to capture the AI opportunity and create value for decades to come.”
In terms of vertical growth, Technology & Services led with 15% YoY CC growth, followed by Financial Services at 7.5% YoY CC, and Telecom, Media, Publishing & Entertainment at 5.2% YoY CC. Geographically, India delivered strong growth of 5.7% YoY CC, Europe grew 4.5% CC, and the Americas grew 2.3% CC. Rest of World recorded the fastest growth at 17.8% YoY CC.
The company expects FY27 revenue growth in constant currency to be in the range of 1.0% to 4.0% YoY, with Services revenue growth projected between 1.5% to 4.5% YoY. The EBIT margin is expected to be between 17.5% and 18.5%.
HCLTech declared a dividend of ₹24 per share for the fourth quarter, bringing the total dividend for FY26 to ₹60 per share.
Shiv Walia, Chief Financial Officer, HCLTech, said: “HCLTech delivered a robust performance in FY26 with revenue at ₹1,301.44 billion, growing 11.2% YoY; EBIT at ₹223.97 billion (17.2% of revenue), growing 4.6% YoY… Excluding the impact of restructuring costs, EBIT margin and Net Income margin stood at 17.9% and 13.8%, respectively.”
HCLTech onboarded 1,712 fresh graduates during the quarter, taking the total fresh graduate additions for the year to 11,744. The Last Twelve Months (LTM) attrition was 12.5%, down from 13.0% in Q4 of the previous year.
Key Advanced AI Deal Wins:
- A global technology giant selected HCLTech for another phase of its AI Factory program valued at over $100 million. HCLTech’s solution will accelerate the client’s need to build and operate next-generation AI data centers.
- A US-headquartered global semiconductor company selected HCLTech’s AI Engineering services to support the physical design of its next-generation platforms.
- A global aviation major selected HCLTech to build an AI-powered digital simulation environment for its air cargo operations. This environment will utilize realistic visualization, physics-based modeling, and generate synthetic data based on precise CAD inputs.
Other Key Deal Wins:
- A Europe-headquartered global luxury fashion giant selected HCLTech to accelerate its AI-driven transformation across finance, HR, manufacturing, supply chain, and retail operations.
- A US-headquartered global medical technology company selected HCLTech to build an advanced cybersecurity Center of Excellence.
- The US subsidiary of a global semiconductor group selected HCLTech for end-to-end firmware development and maintenance services.
- A European public sector agency extended its partnership with Actian to enhance data governance. Leveraging Actian’s products including Ingres, OpenROAD, and Zeenea, this engagement will improve the client’s data integrity, transparency, and control.
During the quarter, HCLTech was named to Fortune’s ‘World’s Most Admired Companies 2026’ list. The company was recognized for the third consecutive year on Ethisphere’s World’s Most Ethical Companies® list and for the fourth consecutive year in S&P Global’s Sustainability Yearbook.