HCL Tech - Strong Deal Momentum, Recovery In Vertical To Drive Growth: HDFC Securities Retail Research
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HDFC Securities Retail Research Report
HCL Technologies Ltd. reported net new deals worth $ 2.25 billion (up 35% QoQ, up 38% YoY), including 14 transformational deals (13 large service deals and one product deal across verticals) in Q2 FY22 and total contract value of new deal wins in Q1 FY22 stood at $ 1.664 billion enabled by eight large services deal wins and four significant product wins, many are transformational deals across the verticals.
New deal total contract value in FY21 stood at $ 7.3 billion, which is 18% increase over FY20.
Robust growth is expected in services, led by strong deal momentum. Thus, deal pipeline is at all-time high, its robust deal pipeline and positive demand environment could bring better earnings visibility going forward.
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