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HCL Technologies Annual Revenues at US$ 3.5 Billion, up 31% YoY


7/27/2011 8:45:39 AM

NOIDA, INDIA--(Marketwire - July 27, 2011) -

HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the year and quarter ended June 30, 2011. For the full year, HCL's global revenues increased by 31.1% YoY to US$ 3,545 mn. During the quarter, HCL posted strong growth with global revenues increasing by 30.5% YoY to US$ 963 mn.

HCL Americas business posted a revenue increase of 23.5% YoY in FY 2010-11 and 5.5% QoQ in the fourth quarter of FY 2011.

Commenting on the quarterly results for the Americas, Dr. Shami Khorana, President, HCL Americas, said, "HCL continues to build momentum in the Americas fueled by an increased demand across our customer base for higher level services in key verticals, resulting in several significant multi-million dollar contracts won during the quarter including Performance Food Group, Dex One Corporation, and Xerox, among others. HCL remains well positioned to take advantage of these and other strategic growth opportunities in the region."

HCL Americas' highlights for Q4 FY 2011:

  • Xerox and HCL signed a 5-year global product engineering services partnership agreement. HCL will provide Xerox with embedded, mechanical and software engineering services for certain Xerox printer and imaging product lines. The partnership will allow Xerox to improve the efficiency and effectiveness of its global engineering operations and continue to innovate in product development operations.

  • Dex One Corporation, a leading marketing solutions provider, forged an engagement with HCL to accelerate delivery of new digital offerings. Dex One will partner with HCL for a number of IT services, which will be supported by HCL locations in Cary, N.C. and India.

  • First Tennessee Bank, part of the First Horizon National Corp. family of companies, has selected the HCL CapitalStream™ "Straight Through Processing" (STP) solution to support its commercial banking lines of business -- small business, business banking, commercial banking, commercial real estate, corporate banking and private banking.

  • HCL signed three significant deals in the pharmaceutical space: one to develop and implement a next generation Clinical Development Platform; another to transform and manage Applications (ERP; BI; R&D) and Infrastructure (Service Desk; EUC; Data Centre Hosting; RIM) portfolios and the third to perform a CRM integration and rollout initiative for multiple geographies (including emerging market locations). HCL will also recommend, implement and manage a holistic service management platform that will be leveraged by all service providers.

  • HCL was awarded the 'Innovation Excellence Award' and recognized as "one of the most innovative R&D players" by TPI (a leading independent sourcing data and advisory firm) as part of its 2011 Americas Paragon Awards.

HCL Technologies - Financial Highlights

  • Q4 Revenues at US$ 963 mn; up 5.3% QoQ
  • Annual Revenues at US$ 3,545 mn; up 31.1% YoY
  • Net Income at US$ 378 mn; up 34.9% YoY
  • Gross Employee addition of 9,572 during the quarter taking total headcount to 77,046

Americas - Financial Highlights

  • Q4 Revenues at US$ 523.8 mn, up 5.5% QoQ
  • Annual Revenues at US$ 1979.7 mn, up 23.5% YoY

About HCL Technologies

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing,' underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employee First, Customer Second' which empowers our 77,046 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 3.5 billion (Rs. 16,034 crores), as on 30 June 2011 (on LTM basis). For more information, please visit www.hcltech.com

About HCL Enterprise

HCL is a $5.9 billion leading global technology and IT enterprise comprising two companies listed in India -- HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 80,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com

Forward-looking Statements

Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned,' 'expects,' 'believes,' 'strategy,' 'opportunity,' 'anticipates,' 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies/entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.


For details contact

Meenakshi Benjwal
HCL America Inc.
Phone Number - 973-393-6225
Email: Email Contact

Tim Hurley
ThinkMedia PARTNERS for HCL Technologies
Email: Email Contact
978-740-1013

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