HCL Technologies (HCLTech) secures multi-year digital transformation contract with ASN Bank Netherlands

Key facts

• HCL Technologies (HCLTech) has been selected as strategic partner by ASN Bank Netherlands to modernise and standardise its IT architecture.
• The engagement involves consolidating IT services, simplifying the vendor landscape and building a future-ready organisation.
• Under the multi-year agreement HCLTech will support ASN Bank’s enterprise applications and streamline services through a distributed delivery model to enhance efficiency and customer experience.
• HCLTech posted net profit of Rs 4,235 crore and revenue from operations of Rs 31,942 crore in Q2, up 11% over the year-ago period.
• The company’s constant currency revenue grew 2.4% QoQ and 4.6% YoY, while dollar revenue rose 2.8% QoQ and 5.8% YoY.
• HCLTech expects revenue growth of 3%-5% YoY in constant currency and services revenue growth of 4%-5% YoY in constant currency, with EBIT margin between 17%-18%.
• HCLTech shares have declined nearly 14% in 2025, making it one of the worst performers on the Nifty this year.