CEO C Vijayakumar says HCL Technologies will double the headcount near the coast

IT chief HCL Technologies CEO C Vijayakumar said the company plans to double its core numbers in the near future in the next 3-5 years, stressing that the Russia-Ukraine war has not affected European demand.

The company operates from 20 nearby locations, including Mexico, Toronto, Vancouver, Costa Rica and Romania. Honcho, head of HCL Tech, said the company would expand into these positions.

The company has no presence in Russia or Ukraine. Its Eastern European centers are in Poland, Romania and Bulgaria, and “they are all operating at the same power level”.

HCL Tech employs around 10,000 people in all its immediate locations worldwide.

“We expect this number to double in the next 3-5 years,” Vijayakumar told PTI.

“Whatever the ongoing ramp-up plans in these locations, they are on track and these locations are growing for us,” he said.

Demand from Europe remains “quite strong”, he said, adding that the agency did not see the Russia-Ukraine conflict affecting demand.

Regarding the expansion of FY23 and the blueprint of new centers, Vijayakumar said that some of the existing positions of HCL could be expanded.

“This is not a completely new location, some of our existing locations may expand, such as Vietnam, Romania, Costa Rica, Mexico and a few centers in the United States … these are the locations where we will expand,” he said.

HCL Technologies recently tripled its consolidated net profit to Rs 3,593 crore in the fourth quarter ended March 2022.

This hit an optimistic note about the “vertical” market environment and “strong momentum across the vertical and service lines” for 12-14 percent revenue growth for FY23.

HCLT’s revenue from operations in the just-ended March quarter stood at Rs 22,597 crore, up 15 per cent from a year earlier. For the financial year ended March 31, 2022, the net income stood at Rs 13,499 crore as against Rs 11,145 crore in the previous financial year.

Revenue from operations for the full financial year as on March 31, 2022 was Rs 85,651 crore, up from Rs 75,379 crore in FY21.

Telecom, financial services, life sciences and healthcare will be key drivers for the company in terms of growing revenue this fiscal year. The company plans to hire 35,000-40,000 freshers this year, in addition to the side hire, which will depend on demand, attrition and other factors, Vijayakumar said.

(With PTI input)

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