India's HCLTech wins $1.14 billion deal with European firm (updated)

Verizon Communications

03/07/2026 07:20

Adds share moves in paragraph 2, background in penultimate bullet
BENGALURU, July 3 (Reuters) - India's HCLTech HCLT.NS has won a $1.14 billion deal with a major European firm, the software services exporter said on Friday.
The announcement pushed HCLTech's shares up by as much as 6.3%, boosting gains on the Nifty IT index, which was up 2.7%.
Here are some details:
The deal will help HCLTech establish an AI-driven operating model to transform and manage the client's global digital workplace and enterprise networks, the company said.
The deal will last for five-and-a-half years and is extendable by another five years, it added, without providing further details about the European firm.
This is entirely new business for the company, HCLTech said, and not from an existing client or a deal renewal.
This is the largest deal HCLTech has announced since winning a $2.1 billion deal with Verizon in August 2023.
HCLTech, which will report its results for the first quarter of fiscal 2027 on July 13, has forecast revenue growth of 1%-4% for the year. 

(Reporting by Haripriya Suresh in Bengaluru; Editing by Janane Venkatraman and Rashmi Aich)
((haripriya.suresh@thomsonreuters.com))