HCLTech has announced an increase in its workforce, with the total headcount rising to 226,640 employees by the end of the September quarter (Q2FY26). This reflects a net addition of 3,489 employees during the quarter.
Key Highlights of HCLTech's Q2FY26 Performance:
- Workforce Growth: The company added 3,489 employees in Q2FY26, bringing the total headcount to 226,640. On a year-on-year basis, the company's workforce increased by 8,019 from 218,621 in September 2024. The company also onboarded 5,196 freshers during the quarter.
- Attrition Rate Decline: HCLTech's voluntary attrition rate has decreased to 12.6% in September 2025, compared to 12.9% in September 2024 and 12.8% in June 2025.
- Revenue Growth: The company reported revenue of ₹31,942 crore for Q2FY26, a 5.2% increase quarter-on-quarter (QoQ) and a 10.7% increase year-on-year (YoY). In constant currency terms, revenue increased by 2.4% QoQ and 4.6% YoY.
- Net Profit: HCLTech's consolidated net profit surged 10.2% QoQ to ₹4,235 crore.
- Deal Bookings: New deal bookings for the quarter stood at $2.57 billion, up from $1.81 billion in the previous quarter and $2.2 billion in the year-ago period.
- Interim Dividend: The Board of Directors declared an interim dividend of ₹12 per share. The record date for determining eligible shareholders is October 17, 2025, and the dividend will be paid on October 28, 2025.
- FY26 Guidance: HCLTech has maintained its revenue growth forecast of 3-5% for the current fiscal year.
Factors Driving Growth:
- Strong Execution and Demand: HCLTech's CEO & Managing Director, C Vijayakumar, attributed the strong performance to robust execution and increasing demand for the company's AI-powered solutions. He noted that Advanced AI revenue exceeded $100 million during the quarter.
- Ramping Up of Large Deals: The revenue growth was supported by the ramping up of large deals with Volvo Cars and European energy firm Equinor, which were announced in previous quarters.
- AI Focus: HCLTech is focused on employee upskilling in artificial intelligence (AI) for FY2025-26. The company upskilled 106,000 employees in AI in FY24-25, exceeding its initial target.
- Digital Revenue Growth: Digital revenue grew 15% year-on-year and now contributes 42% of the company's services revenue.
Analysts' Perspectives:
- Analysts anticipate HCLTech to maintain its FY26 revenue growth guidance of 3-5% and operating margin guidance of 17-18%.
- Axis Direct expects HCLTech to report revenue growth of 3% QoQ, driven by the BFSI and Hi-tech segments.
- Equirius Securities expects strong sequential growth in deal TCV.
HCLTech's Q2FY26 results reflect a healthy performance with growth in revenue, employee count, and deal bookings. The company's focus on AI and digital transformation, along with strong execution and client relationships, appear to be driving its success.
