Company Market Research Report: HCLTech
Company Overview
Name
HCLTech
Mission
To bring together the best of technology and our people to supercharge progress.
Foundation
Year: 1976
Founder: Eight entrepreneurs, with Shiv Nadar being prominently mentioned.
Key People
- C Vijayakumar: CEO & Managing Director
- Shiv Nadar: Founder
- Roshni Nadar Malhotra: Chairperson
- Shiv Walia: Chief Financial Officer (appointed in August 2024)
Headquarters
Noida, India.
Number of Employees
219,000+
Revenue
Consolidated revenues as of 12 months ending June 2024 totaled $13.4 billion.
Known For
HCLTech is a global technology company delivering industry-leading capabilities in digital, engineering, cloud, and AI, powered by a broad portfolio of technology services and products. They have a significant presence across all major verticals including Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services.
Products and Services
Offerings
1. Digital
- End-to-end digital offerings enabling businesses to increase resilience, improve operational efficiency, and deepen client engagement.
2. Engineering
- Engineering and R&D services designed to improve time-to-profit, accelerate product development, and maximize return on innovation.
3. Cloud
- CloudSMART offerings and services to optimize cloud consumption and accelerate innovation and agility at scale.
4. AI
- Leveraging AI and GenAI to automate and accelerate business processes.
Key Features
1. Digital Offerings
- Increase business resilience.
- Improve operational efficiency.
- Deepen client engagement.
2. Engineering Services
- Improve time-to-market.
- Accelerate product development.
- Maximize return on innovation.
3. Cloud Solutions
- Optimize cloud utilization.
- Accelerate innovation at scale.
- Ensure agility.
4. AI Services
- Automate business processes.
- Accelerate various operational workflows.
Recent Developments
New Products and Features
1. Clinical Trials and Diagnosis Solution
- Launch Date: August 1, 2024
- Partnerships: Denodo and AWS
- Key Features: Data integration, management, and delivery solution which streamlines clinical trials and enhances decision-making using real-time data access.
2. Enterprise AI Foundry
- Launch Date: July 26, 2024
- Platform: Microsoft Azure
- Key Features: Expedites AI solution development and deployment. Utilizes Azure AI Studio, Azure OpenAI Service, and Cognitive Services to establish AI-ready data foundations.
Recent Financial Performance
- Q1 FY25 Results
- Total Contract Value: Nearly $2 billion in new business bookings.
- Revenue Growth: 5.6% YoY in constant currency (CC).
- Net Income: ₹4,257 crores, up 20.4% YoY.
- Revenue: $3.36 billion, up 5.1% YoY.
Recent Recognitions
1. Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services
- Recognized as a Leader in 2024.
2. IDC MarketScape: Worldwide Software Engineering Services 2023 Vendor Assessment
- Positioned in the Leaders Category.
3. Forbes Best Employers for New Grads 2024
- Ranked #1 in Professional Services.
Other Notable Achievements
1. HCLTech GenAI CoE with IBM
- Focus on leveraging IBM’s watsonx™ AI and data platform for enterprise solutions.
2. SAP Pinnacle Award
- Social Impact category for AquaSphere solution supporting water conservation.
3. Institutional Investor Research
- Most honored IT services company in Asia with #1 ranks in 21 categories.
Partnerships
1. Denodo and AWS for Clinical Trials and Diagnosis Solution
2. Microsoft for Enterprise AI Foundry
3. IBM for GenAI CoE
This detailed report provides an extensive overview of HCLTech, highlighting their mission, foundational details, key personnel, and key locations. It also elaborates on their wide range of products and recent developments within the company, emphasizing new launches, financial performance, recognitions, and strategic partnerships. This precise and well-structured format showcases an industry leader navigating growth in digital, engineering, cloud, and AI markets.