Shares of IT major HCLTech will be in focus heading into trade on Tuesday after the IT services company emerged as the lead investor in a fresh funding round for Sarvam AI, India's largest pure-play artificial intelligence startup.
HCLTech has invested Rs 1,427 crore, or approximately $150 million, in Sarvam AI, securing a 10.46% stake in the company. The investment was part of a Series B funding round of around $300 million, which values the startup at nearly $1.5 billion.
Besides HCLTech, investors including Nvidia, Prosperity7, Activate and Glade Brook collectively contributed around $100 million in the funding round, while Bessemer invested $50 million. Sarvam AI is also backed by early investors such as PeakXV and Khosla Ventures.
As part of the partnership, HCLTech will support Sarvam AI's research and development efforts focused on next-generation frontier AI agentic models, coding models and cybersecurity applications. The funding will also help the startup gain access to large-scale computing infrastructure and expand deployments across key industry sectors.
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According to HCLTech, the investment will help it develop industry-specific, client-focused language models and AI solutions for its global customer base. The company expects these offerings to deliver strong price-to-performance results and strengthen its enterprise AI capabilities across industries.
The partnership will also allow HCLTech to leverage and further develop Sarvam AI's multilingual capabilities in India and international markets, supporting both sovereign AI initiatives and enterprise deployments. In addition, the company aims to accelerate the development and adoption of sovereign AI solutions for governments, regulated sectors and enterprises seeking localised, secure and compliant AI deployments.
IT major HCL Technologies reported a 4.2% growth in its consolidated net profit for the March-ended quarter at Rs 4,488 crore versus Rs 4,307 crore in the year-ago period. The profit after tax (PAT) is attributable to the owners of the company.
The revenue from operations in Q4FY26 stood at Rs 33,981 crore, 12% higher than Rs 30,246 crore posted in the corresponding quarter of the last financial year.
Separately, HCLTech has guided for revenue growth of 1% to 4% for the financial year 2027 compared with the financial year 2026. The outlook factors in a 50-basis-point impact from client-specific issues and a 2% to 3% impact from AI-led deflation.
Shares of the company are down 32% YTD and about 35% in the last 1 year.
