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In a filing with the National Stock Exchange (NSE), HCLTech disclosed that the value of the agreement is USD 1.14 billion. “HCLTech is pleased to announce the signing of a significant strategic partnership with a Europe headquartered, Fortune Global 50 Firm to establish an AI driven operating model to transform and manage their Global Digital Workplace and Enterprise Networks,” the company said in the filing.
“The initial term of the agreement is from July 2026 to December 2031, extendable for a further period of 5 years. The estimated value of the agreement during the initial term is US $ 1.14 Billion. This is entirely a net new business for the Company,” it added.
The deal is said to be one of the biggest bagged by an Indian IT company this year.
HCLTech appears to be doubling down on AI. The company recently committed USD 150 million in Sarvam’s Series B round that valued the AI startup at a post-money valuation of USD 1.5 billion.
HCLTech also now holds over 10% in the AI startup.
In April, HCLTech reported a 4.20% YoY growth in consolidated profit for the quarter ending March 2026 (Q4Y26) to INR 4,488 crore. On a sequential basis, its profit surged 10.11%. In Q4FY26, HCLTech’s revenue rose 12.35% YoY to INR 33,981 crore. For the fiscal year, the company reported an annualized Advanced AI revenue at USD 620 million.
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