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HCLTech Posts Q2 Beat, Lifts Services Outlook as AI Wins Drive Record Bookings

Management highlighted local hiring to blunt U.S. H‑1B fee costs, with full‑year revenue and margin bands unchanged.

Overview

  • Revenue rose 5.2% sequentially to ₹31,942 crore and net profit increased 10.2% to ₹4,235 crore, with EBIT margin improving to 17.2%.
  • New deal wins reached about $2.57 billion, up 41.8% quarter on quarter and topping $2.5 billion without a mega deal.
  • Advanced AI revenue crossed $100 million for the quarter, and management said nearly all recent deals included AI components.
  • HCLTech kept FY26 revenue growth guidance at 3–5% in constant currency and EBIT margin at 17–18%, raised services growth guidance to 4–5%, and declared a ₹12 interim dividend (record Oct 17, payout Oct 28).
  • The company added a net 3,489 employees to 226,640, hired 5,196 freshers, reported attrition at 12.6%, folded junior variable pay into fixed salaries, and reiterated plans to reduce H‑1B reliance through local hiring and training.