HCL to hire 20,000 people in two quarters
HCL Technologies which crossed $10 billion milestone in the calendar year 2020, had 1,59,682 employees at the end of December 31, 2020
New Delhi: IT services major HCL Technologies is looking at hiring about 20,000 people over the next two quarters to meet the demand coming in on the back of strong growth in deal signing and adoption of digital services.
The Noida-based company, which crossed $10 billion milestone in the calendar year 2020, had 1,59,682 employees at the end of December 31, 2020. It saw a gross addition of 12,422 people, while net addition during the December 2020 quarter was of 6,597 people. Attrition for IT services (on last 12 month basis) was at 10.2 per cent.
“There was a net hiring of over 6,500 people in Q3 (third quarter). There is a big demand pipeline and so, we are continuing to hire both freshers and lateral talent to fulfil the demand,” HCL Technologies President and CEO C Vijayakumar said. He added that “I foresee about 20,000 people to be hired – both freshers and laterals – in the next 4-6 months based on the demand that we have seen”. He added that about 15 per cent of these would be for onshore locations or client geographies with the remaining will be offshore.
Q3 net up 31%
HCL Technologies on Friday posted a 31.1 per cent rise in its December quarter net profit at Rs 3,982 crore on the back of strong momentum in its digital, products and platform segment, and exuded confidence in clocking further acceleration in bookings in the coming quarters.
The IT services major, which had registered a net profit of Rs 3,037 crore in the year-ago period, has also crossed the $10 billion revenue milestone in CY2020. HCL Tech’s revenue grew 6.4 per cent to Rs 19,302 crore in the quarter under review, from Rs 18,135 crore in the year-ago period (as per US GAAP).
The company recorded revenue growth at 3.5 per cent quarter-on-quarter in constant currency, beating its own estimate of 1.5-2.5 per cent growth for the December quarter. HCL Tech has now revised its sequential revenue growth guidance to 2-3 per cent (including DWS contribution) in constant currency from its previous estimate of 1.5-2.5 per cent increase quarter-on-quarter for the March 2021 quarter.
