HCLTech lowers FY26 growth forecast amidst market uncertainties
HCLTech just adjusted its revenue growth forecast for FY26 to 3-5% (up from 2-5%) and cut margin expectations too, thanks to ongoing market pressures.
Their Q1FY26 profit dropped 9.73% year-on-year, landing at ₹3,843 crore—a sign that even big tech isn't immune to a shaky economy.
Revenue up by over 8% but margins under pressure
Operating margins slipped to 16.3% this quarter, mostly because HCLTech is investing heavily in generative AI and saw lower employee utilization.
Even so, revenue rose by over 8%, hitting ₹30,349 crore.
The company's team shrank slightly overall—despite hiring almost 2,000 freshers—showing how workforce shifts are part of the current tech landscape.
$1.8 billion in new deals this quarter
HCLTech is leaning into the future with its AI services and $1.8 billion in new deals this quarter alone.
Its partnership with OpenAI aims to bring cutting-edge generative AI into client projects—so while growth may be slower for now, they're clearly focused on staying ahead as tech keeps evolving.