#HCLT’s results were below estimates,#Kotak Securities

“HCLT’s results were below estimates. Revenues disappointed with a Constant Currency growth of 3.2%. EBIDTA margins also came in slightly below expectations.
 The Constant Currency growth has moderated in past few quarters  and  overall revenue growth has come in largely on the back of IMS. The company needs to improve growth rates in non-IMS businesses.”
Dipen Shah, Head- Private Client Group Research, Kotak Securities

Views on #HCLT results

HCLT’s revenues were in line with estimates whereas margins came in slightly ahead of expectations.
 Over the past few quarters, overall revenue growth has come in largely on the back of IMS. We will wait for sustainable growth in Application Services for HCLT. Also, EBIDTA margins may be difficult to sustain in absence of significant levers.

By Dipen Shah, Head- Private Client Group Research, Kotak Securities 

BPO has done well for HCT – 18% #growth. There's also been an #acquisition trend by BPOs with @hcltech,@Wipro & EXLS acquiring recently
— R Chandrashekhar (@RentalaShekhar) August 1, 2014

HCL Founder Ajai Chowdhry Joins IFIM Business School’s Academic Governing Board

Ajai Chowdhry, Founder-HCL & Former Chairman-HCL Infosystems Ltd., today joined the ‘Academic Governing Board’ (AGB) of IFIM Business School, Bangalore.

Mr. Sanjay Padode, Secretary, Centre for Developmental Education, announced the membership of Mr. Ajai Chowdhry to the Academic Governing Board (AGB) and said, “We are delighted to have a luminary like Ajai Chowdhry on our AGB. We look forward to Mr. Chowdhry mentoring the leadership team at IFIM towards making it a world class institution and helping transform our students into holistic, socially responsible and continuously employable professionals.”

On why he agreed to be on the IFIM Board of Governors, Mr. Ajai Chowdhry said, “I was impressed with the energy, enthusiasm and commitment of the IFIM team towards building a progressive institution that is focused on transformation of students.  When they invited me to join the Academic Governing Board, I gladly agreed. I will be mentoring the leadership team at IFIM, especially in new programs and initiatives in the areas of Entrepreneurship, Business Analytics and Distance Learning.”

Mr. Ajai Chowdhry, one of the six founder members of HCL, began an exciting journey three decades ago with a dream to give India its very own microcomputer. HCL, India’s original IT garage start-up founded in 1976, today is an Rs 26,318 crores (US $ 5.7 bn) global enterprise and Mr. Ajai Chowdhry has been a key force in driving the growth of HCL. He led the foundation of HCL's overseas operations, starting with Singapore in 1980s and later expanded to the other South Asian Markets. He has been enlisted among ‘India's Most Powerful Brand Builders’ and has been adjudged among ‘India Inc’s Most Powerful CEOs’ by The Economic Times. In 2011, the honorable President of India conferred Mr Ajai Chowdhry with the prestigious Padma Bhushan, one of the highest civilian honors, as recognition of his consistent contribution in building the IT industry of the nation. Presently, Mr. Ajai Chowdhry has started to focus on incubating entrepreneurship by aiding start-ups through a variety of initiatives. He is currently involved in teaching entrepreneurship at IIT Hyderabad and has been recently appointed by the President of India, Shri Pranab Mukherjee as Chairman of IIT-Patna.

$400 million IT service contract for #HCL from Norway’s #DNB Bank

DNB Bank ASA, Norway’s largest bank and one of the world’s leading maritime shipping banks, and HCL Technologies, a leading global IT services provider, today announced USD 400 million strategic engagement. HCL will manage the IT infrastructure services and application operations for all DNB businesses across Norway and its key international locations.

As part of the deal HCL will migrate and transform DNB systems and infrastructure from its existing IT partner to create two new data centers in Norway. The key focus will be driving a world-class user experience to the bank’s 2.5 million retail banking customers and end-users across all DNB’s products, including retail and online banking, cards, insurance, capital markets, payments and finance.

The agreement will help DNB significantly improve operational stability, reduce cost and implement a strong application operations framework with highest levels of service quality and innovation within the bank.  As the prime services provider, HCL will be responsible for managing operations and multiple vendors across the bank’s complex technology landscape.

Liv Fiksdahl, Group Executive Vice President / COO, DNB Bank ASA, said: "DNB has been running a comprehensive market evaluation over the last 18 months to select a partner of choice for running DNB’s IT operations to world-class standards as befits a premium bank like DNB. We are happy to have partnered with HCL Technologies on this journey. HCL has demonstrated expertise in undertaking significant transformations for large clients in the financial services industry and with HCL operation’s we aim to deliver a first-class user experience to DNB’s users.”

“We take pride that DNB has chosen HCL as its partner of choice to transform, improve and run its IT operations,” commented Ashish Gupta, Executive Vice President and Head of EMEA, HCL Technologies, ISD. “Leading global banks are looking for ways to improve their mission-critical IT operations to deliver world-class customer service in an increasingly complex technology, regulatory and cost-conscious environment. HCL will deploy its “Enterprise of the Future (EoF) framework” to enable DNB to not only transform its IT infrastructure but also mature IT operations. This will ensure that the bank has agility to scale IT to meet business needs in a secure compliant manner using a “Digital Fortress” construct. The DNB engagement is also a testimony of our growing strength as the provider of choice for the Gen 2.0 outsourcing market with the most complex and transformational engagements successfully delivered for customers in many industries.”

Present in the Nordics since 1999, HCL has made significant progress in becoming one of the most successful IT firms in the region. HCL has been continuously investing in the Nordic market to deliver a superior customer engagement – which is exemplified by the rapid progress HCL has made in the market. It has been ranked number one in ten of eleven satisfaction indicators in KPMG’s Nordic Survey 2013. Today HCL’s Nordic operations have 2,500 consultants carrying out transformational work for over 30 customers working across Sweden, Norway, Finland and Denmark servicing leading Nordic companies with significant local investments in local delivery centers.

About DNB Group

DNB is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalization. The Group offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers.

International customers are served through 23 international branches and representative offices. DNB is one of the world’s leading shipping banks, one of the world’s leading banks in seafood, a major international market player within energy finance, and Norway’s leading foreign exchange bank.

DNB’s bank branches in Norway, in-store postal and banking outlets, Internet banking, mobile services and international offices ensure that we are present where our customers are. Norway’s largest Internet bank, with more than 1.8 million users.

DNB is Norway’s largest asset management company with approximately 492 000 mutual fund customers in Norway. DNB is Norway’s leading real estate broker, and largest investment bank.

Perspective on HCLT results: Dipen Shah, Head- Private Client Group Research, Kotak Securities

“HCLT’s results were higher than expectations, on the margins front. Revenue growth of 2.9% in CC terms was in line with expectations. It is also higher than that reported by Infosys and TCS. HCLT has reported high revenue growth and consistent improvement in margins over the past few quarters. The company needs to improve growth rates in non-IMS businesses and implement more levers to sustain margins as utilization levels are at high levels and cost efficiencies may not yield significant gains, going ahead.”

Twitter Recruitment Campaign by HCL Technologies

Another must follow to ace the #CoolestInterviewEver pic.twitter.com/V0DjgxoXq3
— HCL Technologies (@hcltech) February 12, 2014

HCL Technologies is on a global talent hunt for the coolest IT professionals through an unique recruitment campaign on Twitter, starting February 10, 2014. The 3-week campaign prefixed with the Twitter hashtag has been aptly named as the #CoolestInterviewEver contest.
Participants need to follow the company on Twitter and answer 6 questions to register themselves. The process of evaluation and selection will be carried out by HCL HR executives completely on Twitter, including the one-on-one interviews with the top five applicants.

HCL Technologies Selected by Direct Energy for Customer Care Operations

Direct Energy, a leading energy and energy services  company in North America, reached an agreement with HCL Technologies to implement and manage its residential billing and customer care operations in the Alberta market. The underlying solution will leverage a variety of leading technologies, including multiple technologies from SAP. HCL will provide infrastructure hosting, application management and business process services.

The agreement is an outcome based model which includes efficiencies gained through customer-focused self–service channels. This will enhance delivery on current and future customer expectations while providing new capabilities to strengthen customer retention and acquisition. In addition, optimization initiatives are expected to reduce overall operating costs for Direct Energy.

“In the Alberta market, regulators and customers seek enhanced service standards. With HCL, we have a provider who understands the complexities of our business with a record of running large scale retail business operations in such markets,” said Steven Murray, President, Direct Energy Residential. “We are impressed with HCL’s service delivery model, industry experience and leadership in this area.”

“As a market leader, Direct Energy, is focused on continuous improvement in delivering customer service in an environment of maturing customer expectations. HCL will drive cost savings for Direct Energy’s customers within evolving regulatory regimes, based on its domain expertise and experience of having executed several such transformational projects in the past,” said Todd Crandall, Executive Vice President, Public Services & Emerging Industries, HCL Technologies.

HCL, recognized by industry analysts and key solution vendors, is a provider to leading energy and utilities companies across the globe, providing innovative technology solutions and complete business transformation. With its proven tools, implementation methodologies and advanced technologies, HCL has earned the reputation of being the first in the market to implement innovative solutions at lower risk. To learn more about HCL’s solution offerings in this space, please visit - http://www.hcltech.com/energy-and-utilities.