Event Type: Q2 FY27 Earnings Conference Call held post-results announcement.

Date and Time: October 12, 2026 (specific time not mentioned in transcript).

Purpose: To discuss the company's financial performance for the quarter ended September 30, 2026 (Q2 FY27) and provide business updates.

Management Participants:

  • Mr. C. Vijayakumar – Chief Executive Officer & Managing Director
  • Mr. Shiv Walia – Chief Financial Officer
  • Mr. Nitin Mohta – Senior Vice President & Head - Investor Relations
  • Mr. Kalyan Kumar – President of Software Business (joined during Q&A)

Availability of Materials: The transcript states that a copy of the conference call transcript was submitted to exchanges and is available on the company's website at https://www.hcltech.com/investor-relations.

Compliance Statement: The management included a standard safe harbor statement noting that forward-looking statements involve risks and uncertainties and that the company does not undertake to update any forward-looking statements made during the call.

Financial Period Discussed: Quarter ended September 30, 2026 (Q2 FY27).

Key Financial Highlights:

  • Total Revenue: $3,724 million, growth of 2.3% QoQ and 2.6% YoY (constant currency)
  • Services Revenue: $3,442 million, growth of 3% QoQ and 4% YoY (constant currency)
  • IT and Business Services grew 2.7% QoQ and 4.4% YoY
  • Engineering and R&D Services grew 4.1% QoQ and 2.1% YoY
  • Software Revenue: $294 million, decline of 5.8% QoQ and 11.2% YoY
  • EBIT Margin: 18.2%, improvement of 131 bps QoQ and 71 bps YoY
  • Net Income: $538 million (14.4% of revenue)
  • Advanced AI Revenue: $219 million, up 28.4% QoQ and 78% YoY
  • Annualized Advanced AI Revenue: $876 million
  • New Deal Bookings: $3.3 billion, up 27% YoY and 35% QoQ (second highest in company history)
  • ARR (Software): $1.134 billion, up 7.8% YoY
  • Employee Count: 230,339 (net increase of 6,450 QoQ)
  • Attrition: 12.8% LTM
  • Revenue Per Employee: Improved 2.4% YoY
  • Interim Dividend: ₹12 per share declared with record date October 16, 2026 and payment date October 26, 2026

Forward-Looking Statements & Guidance:

  • FY27 constant currency revenue growth guidance: 2.5% to 4% (company level)
  • FY27 Services revenue growth guidance: 3% to 4%
  • FY27 EBIT margin guidance: 17.5% to 18.5%
  • Guidance includes inorganic contribution of 87 bps for company and 62 bps for services
  • Midpoint of organic growth guidance remains broadly unchanged

Strategic Updates:

  • Advanced AI services becoming key growth driver with $219M revenue in Q2
  • AI Force platform now offers 900+ agents across multiple enterprise functions
  • Announced global Premier partnership with Anthropic to accelerate enterprise adoption of agentic AI
  • Achieved OpenAI Advanced Partner status and joined Cyber Defense initiative
  • Scaling partnerships with NVIDIA, Google Cloud, ServiceNow, and Cohere
  • Launched HCLTech Pulse business unit for mid-market enterprises ($500M-$5B revenue)
  • Completed acquisition of HPE's Telco Solutions Group
  • Expanding India footprint with AI data center in Bhubaneswar, GIFT City center, and advanced semiconductor lab in Bengaluru (₹185 crores investment)

Additional Notes Section

The document is a regulatory filing containing the complete transcript of the Q2 FY27 earnings conference call submitted to BSE and NSE in compliance with SEBI Listing Regulations. No financial data beyond what was disclosed in the earnings release and discussed during the call was included in this transcript. The transcript contains detailed management commentary on financial performance, AI strategy, partnerships, and business outlook, followed by a Q&A session with analysts.