HCL Technologies Annual Revenues up 24.1 % YoY; Quarterly Revenues up by 21.5% YoY and 7.7% Sequentially; Europe Annual Revenues up by 20.6% YoY in FY10

By Hcl Technologies, PRNE
Wednesday, July 28, 2010

LONDON, July 29, 2010 - HCL Technologies Ltd. (HCL), a leading global IT services provider, today
announced results for the annual and quarter ended June 30 2010. For the full
year, HCL's global revenues increased by 24.1% to $2.7bn. During the quarter,
HCL posted strong growth with revenues increasing by 21.5% YoY to $738 mn.

During the year, HCL's Europe business witnessed a revenue increase of
20.6% in FY'10. Its quarterly revenue grew 4.2% QoQ (in constant currency
term). This geography contributes more than 27% of HCL Technologies'
revenues. This demonstrates increasing market recognition of the value HCL
delivers to its customers in Europe and validates HCL's Go-To-Market (GTM)
strategy in the geography. The GTM encompasses integrated horizontal, sector
and geographic focus and it is gaining momentum in ensuring HCL's success in
a dynamic European market environment that is geared to deliver a balanced
growth, going forward.

"Over the last year we have developed facilities, invested in local
operations and increased headcount in the region and with it our ability to
service European clients locally. This is a continuation of our European
growth strategy of making strong investments during the downturn, to be best
positioned to accelerate our business forward in the European market."
commented Rajeev Sawhney, President for HCL Europe. "This commitment to
Europe has enabled us to welcome new clients to HCL, as well as extend
current relationships. This growth exemplifies the corner-stone of our core
philosophy on Employees First, Customers Second and in our success of gaining
momentum in the region.

During the last financial year, HCL has won a number of significant
contracts within its key vertical and horizontal service lines in Europe.
These include Equitable Life, GlaxoSmithKline, Royal Mail, Sky Italia, St
Gobain and News International.

CEO Vineet Nayar continued to articulate HCL's innovative management
philosophies through his new book titled, "Employees First, Customers
Second". The book unveils HCL's unique approach to management and has
received rave reviews across the business and publishing worlds with
high-profile interviews in the FT (View from the Top), The Economist, and
prime-time interviews on CNBC and Bloomberg.

The analyst community has also commented on two of HCL's key customer
engagements in Europe. AMR published a case study on the SAP implementation
by HCL AXON for Birmingham City Council highlighting the 'huge business
value' generated (GBP400m worth of savings over just three years). AMR
categorised this as a 'business transformation' case. Ovum have also
published a case study on HCLs engagement with DSG and sited several factors
which have made the relationship successful including flexibility,
transparency and responsiveness to changing circumstances and the time
invested in the business relationship.

    Q4 FY 2010 Financial Highlights for HCL Technologies

    - Revenue at US$ 738 mn; up 21.5% YoY and up 7.7% sequentially

    - Revenue on constant currency basis up 9.1% sequentially

    - Net Income at US$ 74 mn, up 6.9% YoY

    - Net headcount additions of 6,428 made taking total headcount
      to 64,557

    Q4 FY 2010 Financial Highlights for Europe

    - Europe posts 20.6 % revenue growth in FY'10 over FY'09

    - Europe posts 4.2% QoQ revenue growth for AMJ'10 (in constant currency)

About HCL

HCL is a $5 billion leading global Technology and IT
Enterprise that comprises two companies listed in India - HCL Technologies &
HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage
start-ups, a pioneer of modern computing, and a global transformational
enterprise today. Its range of offerings spans Product Engineering, Custom &
Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems
Integration, and distribution of ICT products across a wide range of focused
industry verticals. The HCL team comprises over 64,000 professionals of
diverse nationalities, who operate from 26 countries including over 500
points of presence in India. HCL has global partnerships with several leading
Fortune 1000 firms, including leading IT and Technology firms. For more
information, please visit www.hcl.in

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
64,557 transformers to create a real value for the customers. HCL
Technologies, along with its subsidiaries, had consolidated revenues of US$
2.7 billion
(Rs. 12,565 crores), for the year ended 30th June 2010. For more
information, please visit www.hcltech.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

    HCL Technologies
    Ranjana Sharma
    HCL Technologies, Europe
    DID: +44(0)207-105-8661
    MOB: +44(0)7921-699137

For details contact: HCL Technologies, Ranjana Sharma, HCL Technologies, Europe, DID: +44(0)207-105-8661, MOB: +44(0)7921-699137

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