HCLTech Q1: Value of new deal wins slide 39.5% QoQ; deal wins worth $1.8 billion

HCLTech reported a total contract value (TCV) of $1,812 million in Q1FY26 from new deal wins, marking a 7.5 per cent year-on-year (YoY) decline from $1,960 million in Q1FY25. On a quarter-on-quarter (QoQ) basis, the decline is steeper at 39.5 per cent, with Q4FY25 having recorded $2,995 million in TCV.

The slowdown in new deal wins comes after the company closed FY25 with a strong total TCV of $9,268 million, supported by robust large deal activity in the final quarter of the previous fiscal.