14 - 07 - 2026

HCLTech maintains fiscal 2027 growth guidance amid AI infrastructure push

HCL Technologies Ltd (HCLTech) is investing ahead of the market to build the next-generation Artificial Intelligence (AI) stack, which is in line with its clear playbook.

A clearer playbook is now emerging through HCLTech’s five-pillar AI strategy—transforming services, building differentiated Intellectual Property (IP), expanding AI-led services, strengthening AI partnerships, and scaling AI talent. This should help the company defend against, and eventually benefit from, AI disruption, a report by Motilal Oswal Financial Services said.

HCLTech also retained its fiscal year 2027 (FY27) revenue growth guidance of 1–4 per cent Year-on-Year (YoY) Constant Currency (CC) and services growth guidance of 1.5–4.5 per cent YoY CC, implying about 1 per cent Compound Quarterly Growth Rate (CQGR) at the midpoint.

The company reported its highest-ever first-quarter (1Q) bookings. A recently announced $1.14 billion mega deal, which is not part of the quarter total contract value, provides additional comfort around achieving the midpoint of guidance.

The deal will have a negligible revenue contribution in FY27 as it reaches steady state only by April 2027. The company expects the ramp-up to provide a stronger exit into FY28, according to the report.

On HCLTech plans to build a full-stack AI data centre business, the management highlighted that this is not a pure data centre or capacity leasing business. The focus is on a full-stack offering that combines AI-ready infrastructure with software, managed services, sovereign AI capabilities, and Small Language Models (SLMs).

Investments will be phased and supported by committed client demand, partner funding, and a mix of equity and debt, it said.