HCL Technologies Posts Strong Revenue Growth in Q3 ’11

April 20, 2011

NOIDA, India, April 20, 2011 /PRNewswire-FirstCall/ –

– Revenues at US$ 915 mn; up 33.5% YoY, Net Income Rises 16.5% QoQ

– Americas Business Grew by 21.8% YoY in Q3 ’11

HCL Technologies Ltd. (HCL), a leading global IT services provider, today
announced results for the 3rd quarter of FY 2010-11. HCL’s global revenues
increased by 33.5% YoY to US$ 915 mn, while net income rose 16.5%

HCL Americas posted YoY growth of 21.8% propelled by transformational
deals across vertical markets led by healthcare and consumer services.

Commenting on the quarterly results for the Americas, Dr. Shami Khorana,
President, HCL Americas, said, “Leveraging on our strong capabilities and
global delivery centers, we have won significant transformational deals this
quarter. We have also expanded our Latin American footprint by opening a new
centre in Mexico and we continue to generate more than 50% of HCLT’s overall
revenues from the US geography.”

The key Americas highlights from this quarter include:

– HCL opened a delivery center in Guadalajara, Mexico. The opening of
this new center is in line with HCL’s strategy to expand its global delivery
footprints worldwide.

– HCL has been positioned as a Leader in a recently published Gartner
report titled ‘Magic Quadrant for Help Desk Outsourcing, North America‘ by

William Maurer, Bryan Britz, Helen Huntley and David Edward Ackerman, 29
March 2011
” (The Magic Quadrant is copyrighted 2011 by Gartner, Inc. and is
reused with permission. The Magic Quadrant is a graphical representation of a
marketplace at and for a specific time period. It depicts Gartner’s analysis
of how certain vendors measure against criteria for that marketplace, as
defined by Gartner. Gartner does not endorse any vendor, product or service
depicted in the Magic Quadrant, and does not advise technology users to
select only those vendors placed in the “Leaders” quadrant. The Magic
Quadrant is intended solely as a research tool, and is not meant to be a
specific guide to action. Gartner disclaims all warranties, express or
implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose).

– TPI has named HCL among the Top 15 Service Providers by total contract
value (TCV) in the Americas in its report titled The TPI Index: An Informed
View of the State of the Global Commercial Outsourcing Market Fourth Quarter
and Full Year 2010, published on Jan 20, 2011.

– HCL won a deal to support the investment management operations of a
Fortune 200 integrated financial services firm from its delivery center in
Raleigh, North Carolina.

– HCL signed a multi-year managed services contract with a leading
telecom local exchange carrier in the US. This deal covers the entire IT
application landscape, including ADM/ASM managed services, in an optimized
global delivery model.

– A leading wireless carrier in the US has signed a multi-million dollar
contract with HCL. The deal scope encompasses architecture, design and
development of SOA based web services for its 30+ million customers. These
SOA based web applications would be accessed by the carrier’s retail outlets
across the US.

– HCL has been chosen by a leading US-based CPG company to modernize its
IT landscape using SOA.

– HCL has been chosen as a preferred partner by a leading federation that
provides healthcare coverage to a third of Americans. HCL will enable at
least fifteen of the forty member plans across the country to make the
transition to ICD-10.

– HCL has won a multi-million strategic engagement with a leading Pharma
company’s Manufacturing, R&D, and Medical business technology. HCL will
support and maintain some of the critical applications and operations
covering areas like Pre-clinical, Clinical, Safety, MRP, RCS, LIMS, and
Quality applications across global locations.

– Novarica, a division of Novantas LLC, a leading management consultancy
and information services provider for the financial services industries has
recognized HCL as one of the major IT services providers to North American
banks in a report titled ‘Novarica Market Navigator’ published in February,

– HCL Technologies has signed a Partnership agreement with Guidewire,
USA. This partnership enhances HCL’s status as an ‘AFFILIATE’ partner to
Guidewire. The ‘AFFILIATE’ partnership program will strengthen our existing
implementation experience spanning each of the products in the Guidewire
Insurance Suite(TM): ClaimCenter(TM), PolicyCenter(TM) and BillingCenter(TM)

– HCL launched ACE(TM) SmartCare(c), a clinical decision support
solution, developed in collaboration with Orlando Health. This customizable
mobile device-enabled solution featuring unified messaging through voice,
data alerts and notifications across clinical settings helps providers
deliver improved, intelligent, and impactful care.

Q3 FY 2011 Financial Highlights for HCL Technologies

– Q3 Revenues at US$ 915 mn; up 5.8% QoQ & 33.5% YoY

– Net Income crossed $ 100 mn/quarter milestone to reach $ 103 mn; up
16.5% QoQ & 35.0% YoY

– Gross & Net Employee addition of 7,534 & 1,153 respectively taking
total headcount to 73,420

Q3 FY 2011 Financial Highlights for Americas

– Americas post 21.8% YoY revenue growth

– Americas’ contribution to overall HCLT’s revenue during the quarter is

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 73,420 transformers to create a real value for the customers. HCL
Technologies, along with its subsidiaries, had consolidated revenues of US$
3.3 billion
(Rs. 15,160 crores), as on 31 March 2011 (on LTM basis). For more
information, please visit http://www.hcltech.com.

About HCL

HCL is a $5.7 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 79,000 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 http://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
    Avena Suri

    Danielle Millerick

SOURCE HCL Technologies

Source: newswire

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