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C Vijayakumar

CEO & Managing Director, HCL Technologies Limited (HCLTech)

Search every verified C Vijayakumar interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. C Vijayakumar, CEO and Managing Director of HCLTech, presented the company's Q2 FY27 financial results during a press conference on October 12, 2026. He reported a quarterly profit increase of 11% to ₹5,132 crore and a 3% revenue rise to ₹35,620 crore, with EBIT growing 10.9% to ₹6,465 crore and the EBIT margin expanding by 134 basis points to 18.2%. Vijayakumar highlighted that the company's advanced AI business, which includes offerings such as AI factory, physical AI, agentic AI, and AI advisory, reached an annualized revenue of $876 million, growing 28% quarter-on-quarter and 72% year-on-year. He also noted that new bookings were the second highest in the company's history and that the first half of the fiscal year was the strongest on record. During the Q&A session, Vijayakumar addressed questions on revenue guidance, stating that the company narrowed its FY27 revenue growth projection to 2.5%–4% while maintaining the same midpoint as previous guidance, citing caution despite improving demand. He declined to forecast an industry-wide inflection point for AI adoption, saying that 2027 budgets are expected to be better than the current year but that it was too early to call out specifics. Regarding workforce concerns, Vijayakumar said the company had made significant investments in building a local talent base and did not foresee major impacts from changes in subcontracting or H-1B visa reliance, as these had remained stable over recent quarters.

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“The bigger theme is how do you really use AI to build new services which will offset some of the deflation that is being caused due to AI in the traditional services. And if you look at our numbers and guidance on the services is 1.5 to 4.5 which is 3% is the midpoint. And the last year FY26 we delivered 3.8% in organic growth in services. So it's actually an 80 basis points lower than last year at the midpoint of ou”

“If you adopt AI in a meaningful way, you can deliver some growth, maybe 4 to 5% kind of growth without adding head count. So, but I think the opportunity landscape is so huge, it's the responsibility of the leaders in the industry to harness that opportunity so that we can grow much higher than the 3 to 4% growth. I I if we can deliver 8, 9, 10% growth, then I think there will be a lot of new opportunities.”

“Today clients are not asking about how many people can you provide, how much how many hours you work, but they're all looking at how can we contribute in reimagining their business with an AI first mindset. I think that's the evolution that all of us have to go through.”

“We believe there will be 2 to 3% depletion at an overall level because of AI. And this is something we've modeled. But there are at least five mega opportunities that we are chasing, right? AI factory, it's a trillion-dollar capex will mean at least a hundred billion dollars of services spend, and at least couple of billion dollars we should be able to get from that.”

“I think we are thinking of at least in the next next two to three years we should get to two two and a half billion in size on this completely new service lines these were not existing this is not about modernizing existing services through AI. These are completely new discretionary spend areas.”

“those areas are all getting significantly disrupted with the advent of AI because uh almost everything that we could do uh without the help of generative AI and all the new uh agentic solutions that are available. uh it could be done at least 30% uh lesser effort more automation with better quality. Now is that adoption going to happen overnight? Answer is no. It's happening gradually. It is picking up good momentum.”

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