HCL Technologies Ltd (HCL), a leading global IT services provider, today announced a ‘Milestone Share Program’ for all its employees to mark the milestone of a billion dollar quarter of July-August-September 2011 or JAS 2011.
Under this program all employees who are on the company’s rolls as on Oct 14th, 2011 will receive a minimum amount equivalent of 5 shares• and a maximum amount equivalent of 10 shares based on years of tenure at HCL. The company has budgeted an amount of Rs 25 crores for this initiative.
This celebration has been launched to mark the company’s significant achievement of crossing $1 billion quarterly revenue mark in JAS 2011. In JAS 2008, HCLT had registered quarterly revenue of $501mn, which has now been doubled in three years to $1,002mn. This quarter in fact has registered many other milestones too:
• Revenues from the Europe region crossed $1 Billion over the Last Twelve Months (LTM)
• Americas revenues crossed $2 Billion (LTM)
• Revenues from the Manufacturing vertical crossed $1 Billion (LTM)
Applauding this achievement, Vineet Nayar, Vice Chairman & CEO, HCL Technologies said,“We have doubled our quarterly revenues in just three years (JAS 2008 to JAS 2011) and crossed $1 billion quarterly revenue mark despite the tough economic environment. This tremendous momentum has been achieved thanks to our Employees First philosophy which has created a high performance organization and transformed our employees into unparalleled value creators.”
“This ‘Milestone Share Program’ is a small token of appreciation of our employees who are the reasons for all our success”, he added.
HCL Technologies has generated tremendous success in its transformation journey which has been accelerated by many recent high points like top ratings by all industry analysts in customer satisfaction, employee engagement accolades like No. 1 'Best Employer' award by Hewitt and worldwide recognition for thought leadership like a citation by FORTUNE magazine wherein HCLT was selected in its 'Executive Dream team', one amongst only eight global stalwarts including Apple, Wal-Mart, Xerox, Coco Cola, FedEx and Google.
*HCL Technologies Closing Share Price as of October 17th, 2011 on National Stock Exchange (NSE), India
About HCL Technologies
HCL Technologies (hcltech.com) is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employees First, Customers Second’ which empowers our 80,520 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 3.7 billion (Rs. 16,977 crores), as on 30 September 2011 (on LTM basis).
HCL (hcl.com) is a $6 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 85,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms.
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned','expects','believes','strategy','opportunity','anticipates','hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies / entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
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