HCL Technologies

By CIO New Zealand staff | Monday, January 11 2010

One of the few companies in the world wearing a smile through the economic storm, HCL Technologies has managed some massive profit gains over the past few quarters as demand for infrastructure services has gained momentum.

Global HQ: Noida, India
Website: www.hcltech.com
Global leader: Vineet Nayar, CEO,director
Local leader: Virender Aggarwal , senior VP, Asia-Pacific
Core activity: Product engineering, custom applications, infrastructure
management
Revenue: US$2.2 billion (FY08-09, ended June 30)
Key customers: Fonterra, Commonwealth Bank of Australia, Xerox,
Employees: 54,200

One of the few companies in the world wearing a smile through the economic storm, HCL Technologies has managed some massive profit gains over the past few quarters as demand for infrastructure services has gained momentum. HCL went on a spending spree in 2008, snapping up Seattle-based CapitalStream and British-based Liberata Financial Services and Axon Group.

The splash has meant HCL has had to raise some capital at less favourable interest rates in 2009 to service its debts, but the increased burden is unlikely to faze the provider, with Axon already reeling it in some big
contracts, including a $1.5 million gig with Ramsay Health Care.

HCL has muscled out its competitor Mahindra Satyam, signing an agreement with Optimation in August to work together on projects. The HCL agreement replaces an expiring contract between Optimation and Satyam. Rachael Bolton