HCLTech raises FY27 revenue growth guidance to 2.5-4%; Q2 profit beats estimates

The Quick Take

• HCLTech raised its FY27 revenue growth guidance to 2.5-4% in constant currency terms
• Q2 FY27 net profit of ₹5,132 crore beat consensus estimates, up 11% quarter-on-quarter
• Deal wins and services momentum support management's confidence in the upgraded outlook

Synthesized from 1 source — full coverage, sentiment breakdown, and forward signals below.

HCLTech delivered a Q2 FY27 performance that beat market expectations on the profit line, reporting net profit of ₹5,132 crore, an 11% sequential improvement. More significantly, management raised full-year revenue growth guidance to a range of 2.5-4% in constant currency, upgrading from the earlier 2-3% band. The guidance revision signals confidence in deal ramp-up velocity and services pipeline health heading into the second half of the fiscal year.

Within India's large-cap IT services peer group, HCLTech has differentiated itself through its products and platforms segment, which includes software license and SaaS revenues less exposed to discretionary client IT spending cycles. Q2 saw continued momentum in infrastructure services and engineering R&D, two segments where HCLTech has sector-specific depth. The guidance upgrade also reflects improving demand signals from financial services and manufacturing verticals in Europe and North America.

For investors tracking the Indian IT sector recovery narrative, HCLTech's upward revision provides a constructive data point following a prolonged period of subdued guidance across the sector. However, the 2.5-4% range remains modest relative to pre-FY24 growth rates, indicating the trough has passed but a return to double-digit growth is not yet visible. Currency tailwinds from a depreciating rupee provide an additional margin buffer, supporting near-term EPS estimates ahead of formal consensus revision.