HCLTech

HCL Technologies Limited
FormerlyHCL Overseas Limited (1991–1994)
HCL Consulting Limited (1994–1999)
TypePublic
ISININE860A01027
IndustryInformation technology
Founded12 November 1991; 34 years ago (1991-11-12)
FounderShiv Nadar
Headquarters
Noida, Uttar Pradesh
,
India
Area served
Worldwide
Key peopleRoshni Nadar Malhotra
(Chairperson)
Shiv Nadar
(Chairman Emeritus)
C Vijayakumar
(CEO & Managing Director)
ServicesAI
Engineering
Digital
Cloud
Software
RevenueIncrease ₹130,144 crore (US$14 billion) (2026)
Increase ₹22,397 crore (US$2.3 billion) (2026)
Decrease ₹16,642 crore (US$1.7 billion) (2026)
Total assetsIncrease ₹116,258 crore (US$12 billion) (2026)
Total equityIncrease ₹75,197 crore (US$7.8 billion) (2026)
OwnerShiv Nadar (60.77%)
Number of employees
Increase 227,181 (March 2026)
ParentHCL Group
Subsidiaries
Websitewww.hcltech.com
Footnotes
Financials as of 31 March 2026.

HCL Technologies Limited (HCLTech) is an Indian multinational technology company headquartered in Noida, Uttar Pradesh. It was spun out of HCL Group in 1991 when HCL entered into the software services business. Founded by Shiv Nadar, the company maintains a presence in 60 countries, while it employs over 230,000 individuals. Additionally, it is the third-largest India-headquartered IT services company by revenue and market capitalization. The company unveiled its brand identity "HCLTech", underpinned by the distinct positioning of Supercharging Progress™, in 2022.

In 2025, HCLTech was named the highest-ranked India-headquartered technology company for the second consecutive year in TIME magazine's World’s Best Companies list. It has also been included in TIME's World's Most Sustainable Companies list for the second consecutive year in 2026, placing it among the top five global professional companies. In 2026, HCLTech was named to Fortune magazine’s World’s Most Admired Companies list in the IT services category.

History

Formation and early years

The company originally focused on hardware, but software and services became the main focus through HCL Technologies. On 12 November 1991, HCL Technologies was spun off as a separate unit, being incorporated as HCL Overseas Limited, a provider of software and technology development services.

In 1993, the company also started providing enterprise IT infrastructure management services, winning an order to establish India's first floorless, electronic stock exchange for NSE.

In July 1994, the company name was changed to HCL Consulting Limited. On 6 October 1999, the company was renamed 'HCL Technologies Limited' for "a better reflection of its activities."

Between 1991 and 1999, the company expanded its IT services capacities to US, European and APAC markets.

IPO and subsequent expansion

HCLTech celebrated the 25th anniversary of its IPO in 2025

HCLTech went public on 11 January 2000, with an issue of 14.2 million shares. By the early 2000s, its wholly owned subsidiary HCL Comnet had expanded its offerings from VSAT to include network security and IT infrastructure services.

In 2001, HCLTech formed a joint venture with Deutsche Bank by acquiring a 51% stake in the latter's Indian subsidiary Deutsche Software (later renamed DSL Software). In 2004, HCLTech bought out the remaining 49% stake in DSL Software, which then became part of HCL's banking technology division.

In 2003, HCLTech won a contract to develop embedded software for Airbus A340's flight warning system. That same year, the company sold its entire stake in HCL Perot Systems, a seven-year-old IT services company, to joint venture partner Perot Systems for over $105 million.

In 2005, HCLTech expanded its operations in Northern Ireland. At the 2006 UK Trade and Investment India Business Awards in New Delhi, then-UK Prime Minister Tony Blair announced the expansion.

In 2008, HCLTech acquired the UK-based consultancy Axon Group for £440 million and merged the company's enterprise application services (EAS) division into Axon. In the three years following the acquisition, the EAS division's revenue share within HCL increased from 9% to 22%.

In October 2017, IBM and HCLTech announced a strategic partnership, with the latter taking over the development of IBM Lotus Software's Notes, Domino, Sametime and Verse collaboration tools.

In 2018, US-based Actian was acquired by HCLTech and Sumeru Equity Partners for $330 million. In 2021, HCL America acquired the remaining 19.6% stake in Actian for $100.2 million, transforming Actian into HCLSoftware's data & analytics division, but keeping it as an independent company.

In 2019, HCL Technologies acquired products of IBM including AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes/Domino, and Unica.

In 2021, the company reached $10 billion in revenue.

In 2023, HCLTech acquired ASAP Group, a German automotive engineering company, for $279 million. In August 2023, HCLTech signed a $2.1 billion managed network services deal with Verizon Business.

In May 2024, HCLTech announced the acquisition of select assets of Communications Technology Group, a business division of Hewlett Packard Enterprise (HPE), for $225 million.

In June 2026, it picked up a 10.5% stake in Indian AI startup Sarvam for $150.7 million. In 2026, the company entered the data center business to offer full-stack AI services.

Acquisitions

Acquisition date Company Business Country Ref.
29 October 2001 Apollo Contact Centre Business process outsourcing United Kingdom
3 June 2002 Gulf Computers Inc. Application development United States
20 September 2004 DSL Software Banking software India
13 October 2004 Shipara Technologies Product engineering and embedded systems India
17 February 2005 Aquila Technologies Engineering software India
20 February 2008 Capital Stream Inc. Business process automation United States
16 July 2008 Liberata Financial Service Business process outsourcing United Kingdom
25 August 2008 Control Point Solutions, Inc. Telecommunications service United States
15 December 2008 Axon Group SAP consulting United Kingdom
16 July 2009 UCS Group's SAP division SAP consulting South Africa
19 October 2015 Concept to Silicon Systems (C2SiS) Semiconductors India
20 October 2015 Volvo's external IT division IT services Sweden
29 October 2015 PowerObjects CRM consulting United States
2 April 2016 Geometric Ltd PLM and engineering services India
21 October 2016 Butler America Aerospace Engineering and design services United States
25 April 2017 Urban Fulfillment Services, LLC Business process outsourcing United States
5 September 2017 ETL Factory Limited (Datawave) Automation United Kingdom
12 April 2018 Actian Data analytics United States
27 June 2018 H&D International Group IT and engineering services Germany
13 March 2019 Strong-Bridge Envision IT consulting United States
9 September 2019 Sankalp Semiconductor Technology design services India
21 September 2020 DWS Ltd IT services Australia
14 January 2022 Starschema Data services Hungary/United States
9 May 2022 Confinale AG Digital banking and wealth management consulting Switzerland
9 May 2022 Quest Informatics Industry 4.0 and internet of things India
13 July 2023 ASAP Group Automotive engineering services Germany
23 May 2024 HPE's CTG division Telco solutions United States
9 August 2024 Zeenea Data management and analytics France
20 February 2026 Wobby Software Belgium
6 March 2026 Finergic Wealth Consulting Singapore
2 July 2026 Jaspersoft Software United States
31 July 2026 Guardian India Operations Financial Services United States
3 August 2026 HPE Telco Solutions Telco Solutions United States

Operations

Countries where HCL has offices (circa 2015).

HCLTech operates in 60 countries and has more than 200 delivery centers and 70+ labs. Its headquarters are in Noida, India. The USA is the company's largest market, accounting for 56.3% of its revenue, followed by Europe at 27.8%, as of March, 2026. The company provides services in the fields of AI, Engineering, Digital, Cloud, and Software. HCLTech's business is divided into three segments: IT and Business Services (ITBS), Engineering and R&D Services (ERS), and HCLSoftware.

Old logo of the company which was used until 2022

HCLSoftware

In 2019, HCL Technologies started a software product division called HCLSoftware, after completing the acquisition of IBM's select software products. Notable products under HCLSoftware include HCL AppScan, HCL BigFix, HCL Connections, HCL Commerce, HCL Digital Experience, HCL Sametime, HCL Notes, Domino, and HCL Unica. As for Actian, their data & analytics division, notable products include HCL Informix, Actian Data Platform, Actian Ingres, Actian Zen, Actian NoSQL and Zeenea. HCLSoftware reported annual recurring revenue of ₹11,986 crore (US$1.2 billion) in fiscal year 2025–26.

In 2024, HCLSoftware entered into a partnership with India's Department for Promotion of Industry and Internal Trade (DPIIT) as part of the Manufacturing Incubation Initiative. Under the partnership, HCLSoftware launched the HCL SYNC program, which provided participating startups with opportunities for international exposure. The initiative was associated with the Government of India's Make in India program and focused on supporting the development and commercialization of domestic intellectual property.

Employees

As of September 30, 2026, HCLTech had 230,000 employees worldwide, representing 164 nationalities. The company has been recognized as a Global Top Employer and was recognized by Forbes as one of America’s Best Employers for New Grads for the third consecutive year in 2026.

HCLTech has had four CEOs since its inception:

CEO Tenure
Shiv Nadar 1976–2007
Vineet Nayar 2007–2013
Anant Gupta 2013–2016
C Vijayakumar 2016–present

HCL Group

HCLTech is the flagship company of the HCL Group. Another HCL Group company, HCL Infosystems, was formed in 1976 to produce calculators. HCL Infosystems later became one of the leading manufacturers of personal computers and laptops in India, but it eventually lost market share to foreign competitors like HP and Dell, and shut down its manufacturing division.

In February 2014, HCL Group launched HCL Healthcare, which provides corporate health services. HCL TalentCare is the fourth venture of HCL Group, which provided skilling and staffing services.

In 2026, India Chip Private Ltd, HCL Group’s joint venture with Taiwan’s Foxconn, launched a chip manufacturing facility in Jewar, Uttar Pradesh.

HCLFoundation

HCLFoundation is the CSR arm of HCL Technologies in India. As of March 2026, it has invested around ₹1,984 crores in social and environmental programs. Its initiatives include the HCLTech Grant. Samuday, Uday, My Clean City and Harit. Through Sports for Change, it has reached over 64,000 athletes, out of which 25 para athletes have represented India internationally. Through My E-Haat, HCLFoundation has supported over 5,000 artisans in diverse craft traditions across 10 states.

Sports Partnerships

HCLTech has served as the Official Digital Technology Partner of Cricket Australia since 2019, supporting the governing body's digital platforms and fan experiences. In the United States, HCLTech is the Digital Transformation Partner of MetLife Stadium, home to the New York Giants and New York Jets, and expanded the relationship in 2026 to include an AI partnership. In 2026, HCLTech also became the Official Digital Experience Partner of the DP World Tour, leading a multi-year transformation of the golf tour's digital ecosystem and fan-facing platforms.

See also

References

  1. ↑ "Fast Facts". HCL Technologies. 1 February 2014. Archived from the original on 14 February 2014. Retrieved 1 February 2014.
  2. 1 2 "HCL Tech CEO Anant Gupta quits, C Vijayakumar to succeed – The Economic Times". The Economic Times. 21 October 2016. Archived from the original on 23 October 2016.
  3. 1 2 3 4 5 6 "Audited Consolidated Financial Results for the Quarter and Year Ended March 31, 2026" (PDF). National Stock Exchange of India. HCL Technologies. 21 April 2026. Retrieved 17 October 2026.
  4. 1 2 HCLTech Integrated Annual Report 2025-26 (PDF) (Report). HCL Technologies. July 2026. Retrieved 17 October 2026.
  5. ↑ "Key Facts and Data". hcltech.com. Retrieved 6 December 2024.
  6. 1 2 "HCLTech's Annual Report 2023-24" (PDF). BSE. HCLTech. Retrieved 12 August 2024.
  7. ↑ Suresh, Haripriya (14 October 2024). "India's HCLTech raises lower end of FY25 revenue growth forecast". Reuters. Retrieved 5 April 2025.
  8. ↑ "Top 10 largest IT companies in India by market cap, as of 2024". The Indian Express. 18 September 2024. Retrieved 5 April 2025.
  9. ↑ "HCLTech named among the world's most sustainable companies by TIME magazine".
  10. ↑ "HCLTech named among TIME's World's Best and Most Sustainable Companies 2025".
  11. ↑ "HCLTech Named to Fortune's World's Most Admired Companies 2026 List".
  12. ↑ Linda A. Hill; Greg Brandeau; Emily Truelove (2014). Collective Genius: The Art and Practice of Leading Innovation. Harvard Business Review Press. ISBN 978-1422187593. In spite of these changes, HCL Enterprise entered the 1990s determined to retain its focus on hardware.
  13. ↑ Simon Sharwood (30 October 2017). "IBM offloads Notes and Domino to India's HCL Technologies". The Register.
  14. ↑ "HCL Technologies". microsoft.com. HCL Technologies Limited is an Indian multinational IT services company, headquartered in Noida, Uttar Pradesh, India. ... subsidiary of HCL Enterprise. Originally a research and development division of HCL, .. independent .. 1991 .
  15. 1 2 3 4 5 6 7 "Company History – HCL Technologies Ltd". The Economic Times. Archived from the original on 6 September 2015. Retrieved 28 August 2015.
  16. ↑ "Dataquest : Focus : Infrastructure Management : Opportunity during Tough Times". 26 July 2010. Archived from the original on 26 July 2010. Retrieved 16 December 2021.
  17. ↑ "HCLTech IPO turns 25; IT firm accumulated over 1,300% return on investments in these years".
  18. ↑ "25 years of HCLTech IPO: IT major gave over 1300% return since market debut". The Times of India. 18 January 2025. ISSN 0971-8257. Retrieved 20 March 2025.
  19. ↑ "HCLTech celebrates the 25th anniversary of its Initial Public Offering". APN News. 20 January 2025. Retrieved 20 March 2025.
  20. ↑ "The Men Behind HCL Comnet". DQ India. 21 November 2002. Retrieved 11 August 2024.
  21. ↑ "HCL Tech forms JV with Deutsche Bank: Reuters". Rediff. 26 September 2001. Retrieved 6 June 2024.
  22. 1 2 Chandran, Bipin (20 September 2004). "Deutsche Bank to sell 49% DSL Soft stake to HCL". Business Standard. Retrieved 6 June 2024.
  23. ↑ "HCL to develop embedded software for Airbus". The Times of India. 16 June 2003. Retrieved 20 September 2024.
  24. ↑ "Perot buys HCL out of JV for Rs 479 crore". Business Standard. 23 December 2003. Retrieved 11 August 2024.
  25. ↑ "Prime Minister Announces 600 New Jobs for Armagh and Belfast". Invest NI. 8 September 2005. Archived from the original on 15 August 2016. Retrieved 29 June 2016.
  26. ↑ Sen, Sunny (14 October 2011). "How AXON is putting HCL Tech in the big league". Business Today. Retrieved 13 August 2024.
  27. ↑ Simon Sharwood (30 October 2017). "IBM offloads Notes and Domino to India's HCL Technologies". The Register.
  28. 1 2 "HCL Tech, PE firm to buy U.S. data management firm Actian". Reuters. 12 April 2018.
  29. ↑ "HCL Technologies subsidiary boosts stake to fully own Actian Corporation's parent". www.moneycontrol.com. Retrieved 12 August 2024.
  30. ↑ "How the Actian Acquisition Illustrates HCL's Product-Based Consulting Strategy". www.forbes.com. Archived from the original on 5 December 2018. Retrieved 12 August 2024.
  31. ↑ YK, R. "HCL Technologies announces close of acquisition of select IBM products". livemint.com. Livemint. Retrieved 1 April 2019.
  32. ↑ "HCL Tech Q3FY21: Revenue reaches $10 billion-mark; FY21 guidance at 2–3%". Business Today. 15 January 2021. Retrieved 23 July 2023.
  33. ↑ "HCLTech acquires German autonomous driving tech firm ASAP for $279 mn". Business Today. 13 July 2023. Retrieved 20 March 2025.
  34. ↑ Walker, Karen. "Inside The Verizon Business-HCLTech Deal With Kyle Malady And C. Vijayakumar". Forbes. Retrieved 20 March 2025.
  35. ↑ "HCLTech wins $2.1 billion Verizon deal". The Economic Times. 11 August 2023. ISSN 0013-0389. Retrieved 20 March 2025.
  36. 1 2 "HCLTech to buy Hewlett Packard's communications tech assets for $225 million". The Economic Times. 24 May 2024. Retrieved 25 May 2024.
  37. ↑ "India's HCLTech to buy 10.5% stake in Sarvam AI, valuing startup at $1.5 billion".
  38. ↑ Ribeiro, John (8 September 2005). "India's HCL to add 600 staff in Northern Ireland". Archived from the original on 17 August 2016.
  39. ↑ "Shipara becomes HCL Tech's fully owned". CIOL. 13 October 2004. Retrieved 11 August 2024.
  40. ↑ "HCL Tech takes over Aquila Tech". Business Standard. 17 February 2005. Retrieved 11 August 2024.
  41. ↑ "HCL acquires Capital Stream for $40 million". The Economic Times. 21 February 2008. Retrieved 22 January 2019.
  42. ↑ "HCL Tech to acquire Liberata Financial Services". Business Standard. 16 July 2008. Archived from the original on 23 September 2015. Retrieved 28 August 2015.
  43. ↑ "HCL Tech buys US based Control Point". The Times of India. 25 August 2015. Retrieved 28 August 2015.
  44. ↑ "HCL Technologies Completes Acquisition of AXON Group plc". Bloomberg L.P. 15 December 2008. Archived from the original on 24 September 2015. Retrieved 28 August 2015.
  45. ↑ "HCL Tech Division Buys UCS Group's SAP Operations". The Wall Street Journal. 17 July 2009. Archived from the original on 22 February 2016. Retrieved 28 August 2015.
  46. ↑ "HCL acquires privately held Engineering services firm Concept to Silicon". The Economic Times. 19 October 2015. Archived from the original on 20 October 2015. Retrieved 19 October 2015.
  47. ↑ "HCL Tech to buy Volvo's IT business". Business Line. 20 October 2015. Archived from the original on 22 October 2015. Retrieved 20 October 2015.
  48. ↑ Novinson, Michael (30 October 2015). "HCL Buys Microsoft CRM Superstar PowerObjects for $46M". CRN. Retrieved 21 May 2025.
  49. ↑ "HCL Technologies to acquire Geometric". Business Standard India. 2 April 2016. Archived from the original on 20 January 2017. Retrieved 25 January 2017.
  50. ↑ "HCL to acquire Butler America Aerospace for $85 million – The Economic Times". The Economic Times. Archived from the original on 1 February 2017. Retrieved 25 January 2017.
  51. ↑ Agarwal, Surabhi (25 April 2017). "HCL acquires Urban Fulfillment Services for $30 million". The Economic Times. Retrieved 15 September 2017.
  52. ↑ Agarwal, Surabhi (6 September 2017). "HCL acquires UK-based data management platform Datawave". The Economic Times. Archived from the original on 18 September 2017. Retrieved 15 September 2017.
  53. ↑ "HCL Tech acquires H&D International for 30 mn euros". The Economic Times. 27 June 2018. Retrieved 27 June 2018.
  54. ↑ "HCL Tech to buy Strong-Bridge Envision to boost digital transformation skills". Techcircle. 13 March 2019. Retrieved 11 August 2024.
  55. ↑ Agarwal, Surabhi (9 September 2019). "HCL Tech acquires Sankalp Semiconductor for Rs 180 crore". The Economic Times. Retrieved 19 March 2020.
  56. ↑ Mathur, Nandita (21 September 2020). "HCL Technologies to acquire Australian IT solutions company DWS". Mint. Retrieved 11 August 2024.
  57. ↑ "HCL Technologies acquires Hungary's Starschema for $42.5 million". The Economic Times. Retrieved 1 February 2022.
  58. ↑ "HCL Technologies Acquires FinTech Consultancy Confinale AG". Channel E2E. 9 May 2022. Retrieved 19 May 2022.
  59. ↑ "HCL Tech to acquire Bengaluru-based Quest Informatics for Rs 15 cr cash". Business Standard. Retrieved 8 July 2024.
  60. ↑ Nagasundaram, Dhanya (13 July 2023). "HCL Technologies inks deal with ASAP Group for about ₹2,300 crore". mint. Retrieved 30 May 2024.
  61. ↑ "HCL Tech's software business unit to acquire Zeenea for €24 million - CNBC TV18". CNBCTV18. 9 August 2024. Retrieved 11 August 2024.
  62. ↑ "HCL Technologies Subsidiary Completes Acquisition of AI Startup Wobby".
  63. ↑ "HCLTech Completes Acquisition of Singapore-Based Finergic Solutions Pte Ltd".
  64. ↑ "HCL Technologies finalises Jaspersoft acquisition".
  65. ↑ "HCLTech completes acquisition of a 100% stake in Guardian India Operations".
  66. ↑ "HCL Technologies completes acquisition of HPE's Telco Solutions business".
  67. 1 2 "HCLTech_Annual_Report2023-24.pdf" (PDF). www.hcltech.com. Retrieved 19 March 2025.
  68. ↑ "HCLTech". cloud.google.com. Retrieved 6 April 2025.
  69. ↑ "HCL Technologies Ltd Management Discussions". India Infoline. Retrieved 6 April 2025.
  70. ↑ "The curious case of HCL Software". Techcircle. 20 January 2021. Retrieved 30 May 2024.
  71. ↑ "HCLSoftware Announces Intent to Acquire Metadata Management Software Provider Zeenea". Actian. Retrieved 12 August 2024.
  72. ↑ "HCL Sync Program".
  73. ↑ "Global Top Employer".
  74. ↑ "America's Best Employers for New Grads".
  75. ↑ "Vineet Nayar retires from HCL Technologies board". Mint. 27 December 2013. Retrieved 16 July 2024.
  76. ↑ "Anant Gupta takes over as HCL Tech CEO". Mint. 17 January 2013. Retrieved 16 July 2024.
  77. ↑ "Strategic move for HCL Group to venture into chip testing and packaging: Roshni Nadar on Foxconn JV". Business Today. 17 January 2024. Retrieved 11 July 2024.
  78. ↑ "Envisioning IT in Every Home". CIO India. Archived from the original on 15 August 2018. Retrieved 15 August 2018.
  79. ↑ "HCL Infosystems to shut PC manufacturing business". Gadgets Now. Times of India. 18 November 2013. Retrieved 11 July 2024.
  80. ↑ "HCL enters healthcare business with Rs 1,000 crore". The Times of India. 7 February 2014. Archived from the original on 7 July 2015. Retrieved 28 August 2015.
  81. ↑ "HCL launches TalentCare to bridge supply gap in IT, Healthcare, Banking". The Economic Times. 15 May 2015. Retrieved 22 January 2019.
  82. ↑ "Chip Manufacturing Plant in Jewar".
  83. ↑ "'HCLTech Grant triggers multiplier effects in education, health, and environment'". The Hindu. 30 May 2023. ISSN 0971-751X. Retrieved 27 July 2025.
  84. ↑ "HCLFoundation Annual Report 2023-24" (PDF).
  85. ↑ "HCLFoundation celebrates success of para athletes, provides equipment and scholarship".
  86. ↑ "Cricket Australia extends HCL partnership for further five years".
  87. ↑ "HCLTech expands Cornerstone Partnership with MetLife Stadium".
  88. ↑ "DP World Tour and HCLTech announce new partnership".