HCL Technologies Limited announced its financial results for the third quarter and nine months ended December 31, 2025. The company reported a total revenue of $3.79 billion, marking a year-over-year growth of 4.8% and a quarter-over-quarter growth of 4.2% in constant currency terms. This quarter also saw HCLTech cross $15 billion in annualized revenue.

The services business grew by 5% year-over-year and 1.8% sequentially. Within services, IT and Business Services grew 3.8% YoY and 1.5% sequentially, while Engineering and R&D Services saw a more robust growth of 10.8% YoY and 3.1% sequentially. HCLSoftware delivered a strong performance with 3.1% YoY growth and a significant 28.1% sequential increase in constant currency, driven by seasonality and strong traction in the data intelligence business. Annual recurring revenue for HCLSoftware stood at $1.07 billion, a 0.6% increase YoY.

Operating margin, including restructuring costs but excluding the one-time impact of new labor codes, was 18.6%, a decrease of 94 basis points YoY. However, excluding restructuring costs, the operating margin was down marginally by 13 basis points YoY.

Net new bookings were strong at $3 billion, representing a 17% QoQ and a substantial 43% YoY growth. Bookings momentum was driven by applications and engineering & R&D services, accounting for 63%. The company also achieved its highest ACV bookings in the last four years.

HCLTech also highlighted its progress in AI, with advanced AI services growing by 19.9%. The company is focusing on four pillars of AI growth: proactive transformation of services using AI Force, building differentiated IP, developing new AI-led services like AI Factory and Physical AI, and strengthening its partnership ecosystem with companies like NVIDIA, SAP, AWS, and OpenAI.

Key deal wins include a $473 million, 5-year strategic engagement with a global apparel retailer for AI-led technology modernization, a partnership with a leading U.S. based insurance company for GenAI-led service transformation, and a project with a European global food major to implement an AI-powered digital foundation. The company announced the acquisition of the Telco Solutions Business from Hewlett Packard Enterprise (HPE) to bolster its telecom engineering capabilities. It also acquired Jaspersoft and Wobby to strengthen its Data and AI division.

HCLTech raised its full-year services revenue growth guidance to 4.75% to 5.25% and company-level guidance to 4% to 4.5% in constant currency terms. The EBIT margin guidance remains at 17% to 18%.

The company declared an interim dividend of ₹12 per share, with a record date of January 16, 2026, and a payment date of January 27, 2026.