HCLTech achieves record $2.6 bn bookings, raises services revenue guidance

HCLTech announced strong Q2 FY26 results with total revenue of $3,644 million, reflecting 2.4% sequential and 4.6% year-on-year growth in constant currency. Services revenue climbed to $3,322 million, up 2.5% sequentially and 5.5% year-on-year in constant currency. Operating margins increased by 116 basis points sequentially to 17.5%, aligning with the company's recovery plan.

The company achieved a record $2.6 billion in new bookings this quarter, the first time exceeding $2.5 billion without a mega deal, driven by strong demand. Notably, advanced AI revenue surpassed $100 million, representing about 3% of total revenue. HCLTech also raised its full-year services revenue growth guidance to 4%-5% in constant currency terms, while maintaining the company-level guidance at 3%-5% due to softness in the software segment's perpetual license revenue.

HCLTech reaffirmed its full-year EBIT margin guidance of 17%-18%, despite anticipating a 70-80 basis point impact from the wage revision cycle in Q3 and an additional 40-50 basis point impact in Q4. The company’s focus on IP-led propositions and strategic partnerships, especially in AI, continues to drive strong client engagement and financial performance.