HCLTech Becomes First Indian IT Firm to Cross $100M in AI Revenue in Q2FY26

In the second quarter of FY26, HCL Technologies (HCLTech) became the first Indian IT services business to produce over $100 million in independent revenue from its Artificial Intelligence (AI) activities, marking a significant milestone. On October 13, 2025, the statement was made, emphasising the company's "Advanced AI" business's explosive expansion.

The milestone revenue stems from HCLTech’s engagement in cutting-edge AI technologies, including generative AI, agentic AI, and associated data and analytics services. The performance reflects the company’s strong execution in a burgeoning AI market.

Exceptional Growth in New Deal Bookings

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HCLTech reported more than $2.5 billion in new deal bookings during the quarter, a 42% sequential increase. Notably, this expansion was accomplished without relying on any "mega" or large-scale agreements, indicating the widespread demand for the business's AI-powered products. Additionally, 3,489 new hires were hired during the quarter, and revenue per employee increased 1.8% year over year, in line with the company's plan to grow its staff in tandem with the use of AI.

Financial Outlook and Strategic Initiatives

HCLTech reaffirmed its EBITA margin guidance of 17–18% for FY26 and slightly revised its services revenue growth outlook to 4–5%. Wage revisions are set to take effect from October 2025, while fresher hiring has already achieved over 90% of last year’s total in the first half of FY26. These measures highlight HCLTech’s continued focus on strengthening its workforce and operational efficiency.

C Vijayakumar, CEO & Managing Director of HCLTech, commented on the quarter’s results: “A standout quarter on every front — marked by strong execution, growing demand for our AI-powered solutions, and Advanced AI revenue exceeding $100M. Our revenue grew 2.4% sequentially in constant currency, with operating margins recovering to 17.5%. For the first time, our new bookings surpassed $2.5 billion, without reliance on any mega-deal. We added 3,489 people to our employee base while continuing to increase revenue per employee 1.8% YoY, aligned with our AI growth strategy.”

Conclusion

The fact that HCLTech has generated over $100 million in AI revenue highlights how crucial AI services are becoming to the Indian IT sector. The business is well-positioned to keep up its leadership in AI-driven solutions and retain its growth momentum in the upcoming quarters, thanks to strong deal flows, targeted workforce expansion, and ongoing margin improvement.