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Tag: HCLTech

HCLTech to showcase advance engineering and AI solutions at SEMICON India

NOIDA, India, Sept 10, 2024HCLTech, a leading global technology company, will showcase a comprehensive suite of enterprise, digital and engineering innovations specifically designed for the semiconductor ecosystem at SEMICON India from September 11-13.

HCLTech suite of solutions on showcase will include conversational AI, HCLTech AI Force – a generative AI solution that accelerates software development lifecycle, Digital Twins for Wafer Handler and Rack System, Spec to Parts and Spec to Platform and HCLTech Proto ATMP lab demos.

“We look forward to our participation in SEMICON India – especially at a time when India is poised to become a leading player in the semiconductor space. We’re happy to contribute our skills, knowledge and engineering prowess gained over four decades,” stated Ameer Saithu, EVP, Semiconductor, HCLTech. “Our collaborations with top OEMs, fabs and OSATs demonstrate our commitment to accelerating semiconductor roadmaps, maximizing ROI and fostering innovation. At HCLTech, we are dedicated to transforming the semiconductor ecosystem and driving progress for our clients.”

With over 25 years of experience in this field, HCLTech is a recognized leader in Semiconductor Engineering Services and proudly partners with six of the top 10 semiconductor OEMs globally.

Leveraging extensive expertise in semiconductor chip and equipment development, HCLTech is uniquely equipped to meet the dynamic demands of the industry. As an approved design partner for leading foundries, HCLTech delivers cutting-edge silicon services to globally prominent IDMs and fabless chip companies, underpinned by strategic investments in laboratories and delivery centers around the world.

HCLTech offers several key services including Mechanical and Manufacturing Engineering, Electrical Engineering, Software and Digital Engineering, Product Testing, Supply Chain Management Support and Lifecycle Services.

HCLTech launches Enterprise AI Foundry on Microsoft Azure

NEW YORK and NOIDA, India, July 26, 2024—HCLTech, a leading global technology company, announced the launch of HCLTech Enterprise AI Foundry on Microsoft Azure, enabling enterprises to combine their data and AI assets with Microsoft’s Azure Data & AI services to accelerate their GenAI-driven transformation journeys and time-to-value.

HCLTech Enterprise AI Foundry on Microsoft Azure enables streamlined operations and smart decision-making, accelerating time-to-value and driving positive business outcomes. Using Azure AI Studio, Azure OpenAI Service and Cognitive services, HCLTech’s Enterprise AI Foundry expedites AI solution development and deployment. It also assists in establishing an AI-ready data foundation, ensuring high-quality AI-powered data solutions.

“In the rapidly evolving technology and business landscapes, there is an urgent need to help enterprises avoid AI tech debt, reduce the dilemma surrounding AI implementation choices and adopt AI with trust and reliability. We believe this initiative with Microsoft will mark a significant milestone in fostering a culture of AI adoption across enterprises,” said Vijay Guntur, Chief Technology Officer and Head of Ecosystems, HCLTech.

“HCLTech’s new Enterprise AI Foundry, powered by Microsoft Azure and Azure OpenAI service, offers an innovative approach for customers who want to drive business transformation. Leveraging the Enterprise AI Foundry, customers will add momentum to their AI initiatives for tangible business impact,” said Marianne Roling, Vice President, Global System Integrators, Microsoft.

HCLTech is a distinguished Microsoft AI Specialization partner and brings vast experience in leveraging Microsoft Azure and GenAI for over 100 clients.

HCLTech recognized with Microsoft verified Managed XDR solution status

NEW YORK and NOIDA, India, July 15, 2024—HCLTech, a leading global technology company, announced that it has achieved Microsoft verified Managed Extended Detection and Response (MXDR) solution status. By achieving this status, HCLTech has proven their robust MXDR services including a Security Operation Center (SOC) with 24/7/365 proactive hunting, monitoring and response capabilities all built on tight integrations with the Microsoft Security platform. This solution combines expert-trained technology with human-led services and has been verified by Microsoft engineers.

HCLTech’s Universal Managed Detection and Response (UMDR) solution powered by Microsoft’s XDR platform helps enterprises address their existing and future security requirements. Combined with its Cybersecurity Fusion Center (CSFCs), HCLTech’s UMDR solution provide enterprises with advanced threat detection and response capabilities 24×7, spanning security signals across the IT estate, including endpoints, networks, OT-IoT, cloud and applications for automated threat detection, investigation, triage and mitigation.

“HCLTech is working together with Microsoft, paving the way for transformative cybersecurity solutions that instill confidence in our clients. Our holistic approach to cybersecurity empowers organizations to navigate the complex threat landscape with certainty and resilience,” Amit Jain, Executive Vice President and Global Head of Cybersecurity, HCLTech.

“With malicious attacks on the rise, we understand security is at the front and center for our customers. HCLTech’s solution tightly integrates with Microsoft 365 Defender and Microsoft Sentinel and has been verified by Microsoft Security engineering to ensure that it provides comprehensive service coverage across the Microsoft Security portfolio,” said Rob Lefferts, Corporate Vice President, Modern Protection and SOC, Microsoft.

HCLTech is part of the Microsoft Intelligent Security Association (MISA). “The Microsoft Intelligent Security Association is comprised of some of the most reliable and trusted security companies across the globe,” said Maria Thomson, Microsoft Intelligent Security Association Lead. “Our members share Microsoft’s commitment to collaboration within the cybersecurity community to improve our customers’ ability to predict, detect and respond to security threats faster. We’re thrilled to recognize and welcome HCLTech’s MXDR solution to the MISA portfolio.”

HCLTech Chairperson Roshni Nadar Malhotra conferred the Chevalier de la Légion d’Honneur by France

NOIDA, India and Paris, July 8, 2024–HCLTech, a leading global technology company, announced that Roshni Nadar Malhotra, Chairperson, HCLTech has been conferred the “Chevalier de la Légion d’Honneur” (Knight of the Legion of Honour) by France. The award recognizes her contributions to the business world, constant endeavor to promote economic ties between France and India, as well as her unwavering commitment to social and environmental causes.

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Instituted in 1802 by Napoleon Bonaparte, Chevalier de la Légion d’Honneur is the highest civilian award given by the French Republic for outstanding service to France, regardless of the nationality of the recipients. The President of the French Republic is the Grand Master of the Order of the Legion of Honour. The award was conferred on the HCLTech Chairperson by H.E. Mr Thierry Mathou, Ambassador of France to India, on behalf of the President of the French Republic, during a special ceremony at the Residence of France in Delhi.

Roshni Nadar Malhotra, Chairperson, HCLTech, said, “It is my privilege to receive this honor and it underscores the strategic relationship between India and France. HCLTech has a longstanding presence in France, which is a strategic market for us. We are committed to scaling our operations in the country and supporting the digital transformation of French businesses through our differentiated portfolio of services.”

H.E. Mr Thierry Mathou, Ambassador of France to India, said: “I am delighted to confer the Chevalier de la Légion d’Honneur on Ms Roshni Nadar Malhotra whose exceptional leadership qualities have helped her carve her own niche in both the corporate and the philanthropic worlds. Under her forward-thinking mindset focused on emerging technologies as AI and cybersecurity, HCL has remained at the cutting-edge of the industry, and has been recognized as an active promoter of business relations between France and India. The French Republic acknowledges today not only Ms Nadar Malhotra’s professional achievements but also her impact on society and her commitment to strengthening bilateral relations between our two countries.”

HCLTech has been operating in France since 2009. It is a digital transformation partner to G2000 French companies across diverse industries including aerospace, manufacturing, financial services and pharmaceuticals. Going beyond business, the company has partnered with Apprentis d’Auteuil to enhance software coding skills in middle schools to boost the local technology ecosystem.

HCLTech wins 2024 Pega Partner Industry Excellence Award

NEW YORK, US and NOIDA, India, June 11, 2024—HCLTech, a leading global technology company, won the 2024 Pega Partner Innovation Award for Industry Excellence in Financial Services. The award recognizes HCLTech for seamlessly implementing Financial Services industry-specific solution frameworks from Pegasystems, the leading enterprise AI decisioning and workflow automation platform provider, empowering enterprises to adopt AI-driven business processes and enhance client experiences. Pega presented the award to HCLTech during the PegaWorld iNspire 2024 event in Las Vegas.

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“HCLTech’s distinguished achievements in crafting impactful solutions, notable within the Financial Services sphere, affirm our trust in their expertise and best practices in enterprise automation,” said Judy Buchholz, senior vice president of global partner ecosystems, Pega.

“At HCLTech, we foster innovation that is not only functional and data-driven but also deeply rooted in industry needs. Together with Pega, we aim to deliver client- and industry-focused solutions that prioritize efficiency,” said Sadagopan S, Executive Vice President, Global Head of SaaS and Commercial Applications, Digital Business Services, HCLTech.

For over 14+ years, HCLTech has been collaborating with Pega, a leading enterprise AI decisioning and workflow automation platform provider. Leveraging its deep technical expertise in Pega’s platform, HCLTech helps enterprises adopt Pega technology, significantly reducing manual steps and improving efficiency and compliance. Now a Global Elite partner for Pega, HCLTech continues to enable clients to scale their digital transformation.

HCLTech Reports FY24 Revenue of $13.3 Billion, up 5.4% YoY

April 29, 2024 New York, United States & Noida, Uttar Pradesh, India
HCLTech, a leading global technology company, today reported financial results for the fourth quarter and the full year ended March 31, 2024.

The company reported full year revenue of $13.3 billion, up 5.4% YoY. Digital Services revenue grew by 5.3% (CC) and now contributes to 37.3% of IT Services revenue. HCLSoftware’s Annual Recurring Revenue came in at $1.02 billion. During FY24, the company won 73 large deals – 36 in Services and 37 in Software – that translated into TCV (new deal wins) of $9.76 billion, up 10% YoY.

For the quarter, revenue came in at $3.43 billion, up 6% YoY. HCLTech won 21 large deals – 13 in Services and eight in Software, with a TCV of $2.29 billion during the quarter.

In terms of geographies, Americas was the fastest growing region with 6.8% YoY (CC) growth followed by Europe, which grew by 5.5% YoY (CC).

Industry vertical growth was led by Financial Services and Telecommunications, Media, Publishing & Entertainment. While Financial Services grew at 12.1% YoY CC for the full year, the Telecommunications, Media, Publishing & Entertainment vertical recorded 39.2% growth (YoY) during the quarter.

The company announced a dividend of ₹18/share for the quarter, bringing the total to ₹52/share for FY24.

HCLTech’s total people count at the end of the quarter stood at 227,481. The company hired a total of 12,141 freshers during the full year. LTM attrition further moderated to 12.4% from 19.5%.

“HCLTech continues to lead the industry in FY24 with good USD revenue growth of 5.4% YoY during challenging times through our strong commitment to our clients and our people. More importantly, we have translated this growth into even higher value creation for our shareholders with our OCF (operating cashflow) coming at $2,711 million, up 21.6% YoY and FCF (free cashflow) at $2,584 million, up 27.7% YoY. As we look ahead, global enterprise technology spend will only grow with adoption of AI. We are well positioned to capitalize with our AI-led propositions, global delivery model and ideal mix of technology services and products,” said C Vijayakumar, CEO & Managing Director, HCLTech.

For FY25, the company has given a guidance of 3%-5% revenue growth YoY (CC) and EBIT margin at 18%-19%.

“HCLTech’s FY24 performance underlines the resilience of our business model with revenue at ₹109,913 crore, growing 8.3%. We delivered this industry-leading growth with EBIT at ₹20,027 crore, up 8.4%. Net Income (NI) for the year came in at ₹15,702 crore, up 5.7%, translating to an EPS of ₹57.86,” added Prateek Aggarwal, Chief Financial Officer, HCLTech.

HCLTech is witnessing strong growth in cloud and cybersecurity. AI and GenAI are key areas of focus and the company recently launched HCLTech AI Force, an innovative GenAI platform that accelerates time-to-value by transforming the software development and engineering lifecycle, delivering greater productivity, improved quality and faster release timelines. It is system agnostic and offers a highly customizable suite of GenAI-based solutions that inject intelligence into software development and engineering workflows to improve efficiency and developer experience.

Among the select GenAI deals that HCLTech won in the quarter are:

  • A US-based biopharmaceutical company selected HCLTech to leverage GenAI and data engineering to automate the extraction of structured and unstructured data from diverse sources.
  • A US-based financial services provider selected HCLTech to migrate its existing machine learning models to new-age GenAI platforms for greater agility, improvement and innovation in service delivery.

HCLTech was recognized by Ethisphere as one of the World’s Most Ethical Companies in 2024. Other key recognitions that HCLTech received in Q4 FY24 are:

  • Rated AA in the MSCI ESG ratings for the second consecutive year
  • Included in the S&P Global Sustainability Yearbook 2024 for the second year in a row
  • Rated as the fastest-growing IT services brand with 15.9% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report.

HCLTech launches strategic initiative with Google Cloud to scale Gemini to global enterprises

NOIDA, India, April 3, 2024—HCLTech, a leading global technology, today announced an expanded alliance with Google Cloud to create industry solutions and drive business value with Gemini, its multimodal large language AI model. HCLTech will enable 25,000 engineers on Google Cloud’s latest GenAI technology to better support clients at every stage of their AI projects, including the development of new use cases and capabilities for HCLTech platforms and product offerings, and initially focusing on bringing gen AI capabilities to clients in manufacturing, healthcare, and telecom.

HCLTech recently launched HCLTech AI Force, a pre-built GenAI platform that optimizes engineering lifecycle processes from planning through development, testing and maintenance. HCLTech will now enhance the HCLTech AI Force platform with Gemini’s advanced code completion and summarization capabilities, which will allow engineers to generate code, remediate issues and accelerate the delivery time and quality of software projects for clients.

HCLTech will also use Gemini models to strengthen and expand the portfolio of industry solutions built out of its dedicated Cloud Native Labs and AI Labs, which focus on accelerating client innovation and are staffed by leading AI experts and engineers. Both labs will enable clients to better scope, manage and refine gen AI projects on Google Cloud’s infrastructure.

“HCLTech and Google Cloud have a long-standing strategic partnership. This collaboration will bring to market HCLTech’s innovative GenAI solutions using Google’s most capable and scalable Gemini models. We believe this helps us to bring even more value to global enterprises through HCLTech’s differentiated portfolio,” said C Vijayakumar, CEO & Managing Director, HCLTech.

“Gemini for Google Cloud can enhance many areas of enterprise work, such as helping developers build applications more quickly and improving how financial analysts report on their businesses,” said Thomas Kurian, CEO, Google Cloud. “By enabling 25,000 engineers on Google Cloud’s latest generative AI technology, HCLTech can provide the expertise and technical skills that clients need to successfully deploy and manage gen AI projects at scale.”