Global IT services major HCL Technologies is actively targeting the telecoms space with regards to helping operators towards their journey for ‘Digital Transformation’.
As more and more telecom service providers and CSPs (communication service providers) face tough competitive scenario, customers are expecting seamless digital experiences often creating pressure on telcos to digitally transform themselves. This is where HCL is focusing its efforts to drive digital transformation in the telecom space.
“This whole space of Digital Transformation and digital platform management is very important for us and we continue to work closely with our customers in telecom space to derive better operational efficiencies,” explained, Anant Gupta, President & CEO, HCL Technologies Ltd. he was speaking on the backdrop on the company’s quarterly result announcements.
“At HCL we have always been at the forefront of changing market dynamics. With enterprise need for Digitalization, Internet of Things and next generation ITO, the company is well set to redefine the interface between technology and business. Our new-age propositions will significantly improve the competitiveness of global enterprises”, said Shiv Nadar, Chairman & Chief Strategy Officer, HCL Technologies Ltd.
“HCL continues to deliver broad-based growth across geographies, verticals and horizontals. This quarter saw our revenue increase by 14.4% LTM YoY in constant currency and we gained significant market share fuelled by transformational deal bookings in excess of USD1 billion. These engagements were primarily driven from industries like Consumer Services, Manufacturing and Public Services and the European region”, said Anant Gupta, added.
“We also continued to make significant investments in expanding our global footprint, opening several new onsite facilities and Co-Innovation Labs as well as expansion of our existing presence in India. This along with hiring of 100+ senior industry leaders over the last two quarters will facilitate exponential advantage in key emerging growth areas like Enterprise Digitalization and Engineering Services.” he added.
“The robust growth is reflective of our resilient business model in a volatile currency environment besides our continuous wins in the focus areas. The operating margin metrics and enhanced working capital requirements have impacted our cash flows and are an outcome of our focused investment agenda for enhancing capability build up and delivery dynamics of large engagements.”, said Anil Chanana, CFO, HCL Technologies.
Quarterly Results at a Glance
• Revenue grew by 15.4%.
• Broad based growth across all revenue segments:
• Americas, Europe and ROW grew by 13.6%, 22.0% and 6.9% respectively.
• Driven by Business Services at 34.6%, Engineering and R&D Services at 32.4%, Infrastructure
Services at 16.1% and Application Services at 6.9%.
• Vertical growth led by Telecommunications, Media, Publishing & Entertainment at 23.5%,
Lifesciences & Healthcare at 21.1%, Public Services at 16.6%, Financial Services at 15.4%, Retail & CPG at 14.8% and Manufacturing at 14.4%.
HCL has signed 14 transformational engagements during this quarter adding up to more than $1 billion of TCV. These wins are led by Consumer Services, Manufacturing and Public Services verticals and represent a healthy mix of service lines. Focus on disruptive new propositions around Enterprise Digitalization, Industrial Internet of Things and next-gen ITO has further fuelled the company’s growth trajectory this quarter.
• HCL has signed an engagement with one of the world’s leading Internet-related services and
products company to develop advanced decision support and process automation tools using Web 2.0/Big Data technologies.
• HCL has won a deal to manage and maintain digital platform including web and mobile platforms for a leading American Financial Services company.
• HCL has been selected by a US headquartered multinational telecom giant to build a next generation digital platform to support one of its strategic acquisitions. The engagement will entail integration of
e-commerce platforms and building new business process flows for the company.