HCL Technologies Posts Strong Revenue Growth in 1st Quarter of FY 2011

London and Noida, India (ots/PRNewswire) - HCL
Technologies Ltd. (HCL), a leading global IT services provider, today
announced results for the quarter ended Sept 2010. In this 1st
Quarter of FY 2011, HCL's global revenues increased by 9.0%
sequentially and 27.6% YoY to $804mn.

HCL accelerated its growth in the European region reporting a
revenue increase of 18.2% QoQ and 17.5% YoY during July-September
2010. This quarter HCL added to its customer portfolio in Europe, one
of the largest financial institutions in Ireland and a top General
Insurance company in the Nordics regions where HCL will be providing
business transformation through development, implementation and
support & maintenance of their claims management system.

"This geography constitutes 27% of HCL Technologies' revenues and
has demonstrated increasing market recognition of the value HCL
delivers to its customers." commented Rajeev Sawhney, President for
HCL Europe. "Our Go-to-Market strategy encompasses integrated
horizontal, vertical and geographic focus and is gaining positive
momentum to continue delivering a balanced growth, going forward. "

The key European highlights from this quarter include;
- HCL inked several new contracts across Europe this quarter,
including one of the largest financial institutions in Ireland and
Pohjola Insurance Ltd, a top General Insurance company in the Nordics
regions where HCL will be providing business transformation through
development, implementation and support & maintenance of their claims
management system.
- HCL reinforced its relationship with GFI Infortmatique, with
an order for one of the major aerospace companies in France. HCL has a
partnership with GFI, who is well positioned to provide on-site in-
French IT Services for customers in France, allowing HCL to provide
scalability and standardization.
- HCL was positioned in the Gartner Magic Quadrant for Desktop
Outsourcing, Europe and Gartner's Magic Quadrant for Helpdesk
Outsourcing for Europe. It also received a positive rating MarketScope
for Managed Security Services in Europe from Gartner.
- HCL rated 'Positive' in Gartner MarketScope for Managed
Security Services in Europe.
- IDC identified HCL as one of the "rising players in the
Nordic IT services" space. As per IDC, HCL's current position in the
Nordics is a Challenger position with strong propositions in key
verticals such as Manufacturing, Consumers Services (Retail & T&M),
Financial Services, Healthcare and Energy/utilities.
Q1 FY 2010 -11 Financial Highlights for HCL Technologies
- Q1 Revenues at US$ 804 mn; up 9.0% QoQ; up 27.6% YoY
- Net Income at US$ 72 mn; up 7.9% YoY
- Revenue on constant currency basis _28.5% YoY & 7.4%
sequentially
- Gross & Net Employee addition of 11,785 & 5,661 respectively
taking total headcount to 70,218
Q1 FY 2011 Financial Highlights for Europe
- Europe posts 17.5% YoY revenue growth in Q1 FY'11 over Q1 FY'10
- Europe posts 18.2% QoQ revenue growth for quarter ending September
2010.

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 72,000 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
70,218 transformers to create a real value for the customers. HCL
Technologies, along with its subsidiaries, had consolidated revenues
of US$ 2.9 billion (Rs. 13,145 crores), as on 30th September 2010 (on
LTM basis). For more information, please visit http://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

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