HCL Tech to continue hiring for Q4; to have a good margin story for full year

economictimes.indiatimes.com:

Prateek Aggarwal, CFO and Ramachandran Sundararajan, Chief People Officer, HCL Tech, in conversation with ET Now.

Prateek Aggarwal says: We continue to have a good margin story for the full year. September quarter was a great one and so was December. We look forward to close the year at a good clip.

Ramachandran Sundararajan says: “We will continue the hiring trend for Q4 to support the growthwe have projected for Q4. Our lateral hiring will continue for Q4. In the case of fresher hiring, we continue to honour our commitments for on-boarding. We will see a fresher on-boarding happening in Q4 as well. So net-net, we expect Q4 to be a net addition to our headcount. But it is early to talk about FY25.”

The company recorded a strong 32% growth in the P&P business. Want to understand that, was there any one-off or this was bunching up which actually fuelled the growth?
Prateek Aggarwal: No, no one-off. Actually, that is the inherent seasonality that we have in the software business. It all depends on which customers and how many of them we are in touch with during that quarter. This business has 7,000-8,000 customers. So the seasonality is dependent on the number of customers that have their renewals coming up in this quarter.

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Every December quarter is a seasonal high, as was this quarter. So that is the reason we don’t publish the sequential. I mean, we do give that data point there, but we always talk about year-on-year growth, which also for this business was a hefty