LTIMindtree and HCL Tech could rally 15-27% in 1 year: Positioned for strong growth amid GCC expansion

The Indian GCC landscape is now at an inflection point and evolving into a transformation hub beyond traditional roles of cost arbitrage and delivery centres for parent organisations. Of the $ 200 billion of Indian IT services exports, GCCs account for c22% of revenues and c30% of the IT services workforce.

It is no secret that Global Capability Centers (GCCs) have witnessed significant scale over the last decade in India. While revenue for GCCs was reported ~11% CAGR over FY15-FY23, top 5 IT services companies have clocked an 8% CAGR in revenue during the same period (albeit on a much higher base).