Nearshore Americas

On Strength of New Dev Center in Brazil, HCL Posts 28% Annual Growth

Latin America Outsourcing

HCL Technologies Ltd. (HCL) – which last year HCL opened a Global Development Center in Brazil – announced its results for the second quarter of FY 2010. HCL has posted market-leading growth with global revenues increasing by 28% YoY.

HCL’s US business posted an increase of 23% year-on-year. The result demonstrates increasing market recognition of the value HCL delivers to its customers in the US and validates HCL’s Go-To-Market (GTM) strategy in the geography. The GTM encompasses integrated horizontal, sector and geographic focus. It has ensured HCL’s success in a dynamic US market environment and is geared to deliver a balanced growth, going forward.

Commenting on the results, Dr. Shami Khorana, President, HCL America, said, “During this quarter, we continued to successfully execute on our highly differentiated GTM strategy of delivering total IT outsourcing solutions to our customers, leveraging a complete vertical portfolio. Our US business in Calendar 2009 has posted an industry leading growth at 5% CQGR and a $1.5 Billion run rate for FY 2010. Calendar 2009 has been a period marked by economic and business uncertainty.” HCL opened a Global Development Center in Brazil to service the company’s growing client base in Latin America, North America and Europe. The deals signed during the year include names like EFH, American Family Insurance, U.S. Food Service, NetApp, Xerox-XIM, TXU and DPSG.

HCL was featured in the prestigious FinTech Top 25 Enterprise Technology Companies ranking for the first time in 2009. HCL’s entry into the ‘FinTech Enterprise 25’, which comprises the world’s largest horizontal technology providers to the financial services sector, re-affirms its strong position in this vertical.

HCL has been included as ‘Top 10 ADM Service Providers’, ‘Top 10 Infrastructure Service Providers’, ‘Top 15 Americas Service Providers’, and ‘Top 15 EMEA Service Providers’ in the 2009 Contract awards list by TPI in TPI Global Index 4Q09.

HCL received a 2009 Diamond Award from the IT Services Marketing Association (ITSMA), the leading marketing association for technology, communications and professional services providers. HCL was one of only two companies honored with the Targeted Demand category award, which recognized HCL’s corporate-wide ability to use multiple demand generation tactics and create innovative and focused campaigns to help to identify and closing new business opportunities.

During the quarter HCL entered into strategic partnership with iLumen to power CapitalStream, HCL’s business and commercial lending system. The partnership will include both technical product integrations and co-marketing arrangements.

It also signed a partnership with SAP to provide value added services and solutions to Utilities segment. The partnership will enable both HCL and SAP to improve the win rate and effectiveness of customer relationship and billing demonstrations in North America.

With Tibco HCL signed a global reseller agreement. HCL is the only Indian Service Provider to have this designation. HCL also signed an agreement with SoftwareAG to migrate business critical systems from 6.x integration server platform to 7.x or 8.x and with Savvion for a Global Alliance to extend its focus in the Business Process Management segment.

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Q2 FY 2010 Financial Highlights for HCL Technologies — Overall Q2 revenues at US$ 652 million; up 28% YoY — Net Income at US$ 64 million Q2 FY 10 Financial Highlights for US — Size of US at USD 1.5 billion on annual run-rate — US business contributed 57% to HCL’s overall revenues — US posts 23% YoY growth 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’ which empowers our 54,443 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.3 billion (Rs. 11,270 crores), as on 30th September 2009 (on LTM basis).

Kirk Laughlin

Kirk Laughlin is an award-winning editor and subject expert in information technology and offshore BPO/ contact center strategies.

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