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**HCLTech Announces Q1 Results: Focus on AI and Specialized Hiring Drives Strategy**

**New Delhi:** HCLTech released its Q1 FY26 results today, reporting a 3.7% year-over-year (YoY) increase in constant currency revenue, though experiencing a 0.8% sequential decline. While net profit fell 10% to Rs 3,843 crore, the company highlighted strong performance in its services business, growing at 4.5% YoY in constant currency. The company announced an interim dividend of Rs 12 per share for FY26.

CEO C Vijayakumar emphasized that AI is now central to IT services, with investments focused on an AI-driven data management lifecycle platform. He noted increasing AI client engagement sizes, moving from proof-of-concepts to multi-million dollar deals. HCLTech expects ER&D services to be its top growth driver, with telecom as the best performing sector, while manufacturing and retail verticals are facing continued pressure. The company expects a strong TCV in Q2.

A key strategic shift involves focusing on specialized fresher hiring in areas like data & AI, cybersecurity, and enterprise skills. These “elite” freshers will command significantly higher salaries (3-4X more than regular hires). The company is looking at a hiring increase for FY26 compared to FY25, although the overall number of “elite” hires will depend on quality. Restructuring plans are in motion, primarily targeting underutilized overseas facilities, which may result in some talent ramp down outside of India.

HCLSoftware had a weaker quarter after consistent good performance, though annual recurring revenue grew.

In related news, Ola Electric saw its shares rally following the release of its Q1 FY26 results, which showed a sequential improvement in net loss. Ola Electric is optimistic about its FY26 outlook, expecting to sell between 325,000 and 375,000 vehicles and generate revenue of Rs 4200 – 4700 crore.

Shares of Tejas Networks and Sambhv Steel Tubes also saw positive movement ahead of their Q1 results, while Tata Tech shares traded in the red.

**Key Takeaways:**

* HCLTech is doubling down on AI and specialized skills.
* Restructuring is underway to optimize global operations.
* Ola Electric is showing signs of recovery with improved financial performance.

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