HCLTech Q3 FY26 revenue up 4.2% QoQ (CC) as annualized revenue crosses $15B; bookings exceptionally high at $3B

Revenue guidance raised to 4.0% - 4.5% YoY CC, services revenue guidance to 4.75%-5.25% YoY CC

NEW YORK and NOIDA, India, Jan. 12, 2026 /PRNewswire/ -- HCLTech (NSE: HCLTECH.NS) (BSE: HCLTECH.BO), a leading global technology company, delivered a strong performance for the quarter ended December 31, 2025, with USD revenue at $3.8 billion. The revenue in constant currency (CC) increased 4.2% QoQ and 4.8% YoY.

"(We had) another standout quarter on all fronts… with a strong recovery of operating margin to 18.6%. The strong revenue momentum in the quarter has enabled us to cross $15 billion in annualized revenues. Our new bookings were exceptionally high at $3 billion. We are well-positioned to address the evolving AI demand of our clients across industries and service lines," said C Vijayakumar, CEO & Managing Director, HCLTech.

 

 

Services revenue (CC) grew 1.8% QoQ and 5% YoY. HCL Software revenue (CC) grew sharply by 28.1% QoQ and 3.1% YoY, driven by seasonality and the data Intelligence portfolio. HCLSoftware's annual recurring revenue (ARR) stands at $1.07 billion. Advanced AI revenue for the quarter, which the company began reporting last quarter, is up 19.9% percent at $146 million.

Engineering and R&D Services revenue (CC) grew 3.1% QoQ and 5% YoY. IT and Business Services revenue (CC), which accounts for 72.3% of the total revenue, grew 1.5% QoQ and 3.8% YoY.

HCLTech raised its revenue growth (CC) guidance to 4.0%-4.5% YoY and the services revenue growth (CC) guidance to 4.75%-5.25% YoY. The EBIT margin guidance remained unchanged at 17%-18%, excluding the ₹956 crores ($109 million) one-time impact of India's New Labor Codes on EBIT.

Industry vertical growth (CC) was led by Technology and Services at 14.4% YoY growth, followed by Financial Services at 8.1% YoY. Public Services (which includes Energy & Utilities, Travel, Transport, Logistics and Government) grew 8% YoY. In terms of geographies, India recorded a strong growth of 15.8% YoY (CC), Europe grew by 4.6% YoY (CC) and the U.S. grew by 1.5% YoY (CC). The Rest of the World grew the fastest at 22.1% YoY (CC).

"Q3 EBIT margins, excluding the one-time impact of New Labor Codes, came in at 18.6% (up 111 bps QoQ). Our dedicated efforts to improve cash conversion have yielded in FCF/NI (LTM basis) remaining healthy at 120% and we ended the quarter with our highest ever cash balance of ₹34,306 crores," added Shiv Walia, Chief Financial Officer, HCLTech.