HCLTech CEO C Vijayakumar sees GCC opportunities despite divestment impact

HCLTech, located in Noida, foresees GCC opportunities despite State Street's insourcing lowering Q1 revenue. CEO Vijayakumar predicts Q3 recovery, growth in ER&D, and AI efficiency. The State Street buyout cut financial services revenue by 0.8%. 200 GenAI proofs of concept are expected to raise FY26 discretionary spending. FY24 remains subdued, with a 3-5% revenue guidance range.