HCLTech earnings calls.

HCL Technologies delivered a mixed Q1 FY27 performance with flat sequential revenue but 2.6Current 2.6 crore vs previous available quarter 2.4 crore.% YoY growth in constant currency at $3,650 million. The 16.9% operating marginCurrent reported value: 16.9% operating margin. No comparable prior figure is available in the source record. expanded 39bps QoQ and 56bps YoY, though excluding restructuring costs, adjusted margins were 17.5%. AMJ is seasonally weak due to planned productivity commitment roll-offs in large managed services contracts. Advanced AI revenue reached $172 million (+62.1% YoY, +10.3% QoQ)Current $172 million (+62.1% YoY, +10.3% QoQ). Reported change: +62.1% YoY., demonstrating strong momentum in AI-native offerings. Net new TPC bookings of $2.44 billionCurrent $2.44 billion. Reported change: Highest Ever Q1. (highest ever Q1) and a landmark mega deal signed in July with a Fortune Global 50 firm underscore pipeline strength. Management retained FY27 guidance of 1-4% organic revenue growth and 17.5-18.5% margin. A new strategic initiative—AI data center investment of up to ₹3,500 crore targeting 50MW capacity—positions HCL for sovereign AI opportunities. Risk: sequential revenue decline in ERS (-3.7%) from telecom discretionary spending cuts may persist, and the data center investment carries execution risk in a capital-intensive, competitive segment.