New Delhi: HCL Technologies Ltd (HCLTech) reported a resilient performance in the December quarter (Q3 FY26), with steady revenue growth, stable margins and continued traction in large deal wins, as enterprises prioritised efficiency-led digital and AI transformation amid a muted global macro environment.
The IT major said its services business remained the key growth driver, supported by demand across cloud, digital engineering, cybersecurity and data-led offerings. While discretionary technology spending stayed under pressure in some verticals, HCLTech noted that cost optimisation, vendor consolidation and platform modernisation continued to drive deal activity, particularly among large global clients.
A key highlight of the quarter was strong deal momentum, with the company reporting healthy additions to its order pipeline. HCLTech said AI-led services are increasingly becoming central to client engagements, moving beyond pilots to scaled deployments across enterprise functions, including infrastructure, application modernisation and engineering services.
“HCLTech continues to see sustained demand for services that help clients improve productivity and resilience,” the company said, adding that its early investments in AI, automation platforms and full-stack digital capabilities are translating into long-term contracts and deeper client relationships.
From a geographic standpoint, North America and Europe remained stable, while the India business showed healthy growth driven by public sector and enterprise digital initiatives. Sector-wise, technology, telecom, healthcare and manufacturing displayed relative resilience, even as select consumer-facing segments remained cautious.
On margins, HCLTech said disciplined execution, utilisation improvements and cost controls helped offset pricing pressure and wage-related headwinds. The company continued to invest in employee upskilling, particularly in AI and emerging technologies, while keeping hiring aligned with near-term demand visibility.
Looking ahead, HCLTech said it remains cautiously optimistic on demand conditions, citing a strong deal pipeline, rising AI adoption and increasing client focus on transformation-led spending as key growth drivers over the medium term. Analysts said the company’s diversified portfolio and execution track record position it well among Indian IT peers as global technology spending gradually stabilises.