HCL Technologies, the third-biggest IT firm in India after TCS and Infosys, recently revealed its Q4 earnings at ₹3,986 crore and revealed a flat net profit growth year over year. In the days that followed, CEO C Vijayakumar disclosed the company’s focus and areas of importance for intervention. One of the most intriguing things he said today, at least for job seekers, was that HCL Tech was probably going to hire 10,000 freshmen this time around.
HCL Tech Reports Significant Workforce Expansion and Growth Plans for FY25
HCL Tech added more than 2,700 workers in Q4, according to Vijayakumar, who also said, “The headcount addition should not come as a surprise, because we had a good growth of 5.4% (for FY24) in the current environment.” He also included a caveat about FY25, stating that a lot will depend on how the year plays out. Having said that, he continued, the company has planned to hire “at least 10,000 freshers during this year.”
In reference to the company’s growth trajectory, Vijayakumar stated that HCL Tech is eager to acquire businesses in the semiconductor, automotive, and platform industries as well as those that generate robust annuity revenues in regions like Japan.
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HCL Tech’s Vision for AI and Growth Prospects
Regarding artificial intelligence, Vijayakumar stated that the field is focusing on generative AI opportunities, and he anticipates that this year alone, up to 50,000 people will receive their full training. According to Vijayakumar, the positive sentiment is further enhanced by the fact that GenAI-driven industries such as data, cyber security, cloud migration, and private AI stack construction are all gaining momentum.
“We’ve had stellar growth in financial services for the last two years, significantly ahead of industry,” he said. “Financial services will have some headwinds now.” Financial services will therefore exhibit these characteristics, while all other verticals will expand. According to Vijayakumar, the US market is very significant to the company, accounting for 64% of its revenue, and the company has a very optimistic outlook. We’ve performed admirably. We’ve seen 6.8% growth in the US market, which is still a very robust region, he continued.
