HCL Technologies Limited (NSE:HCLTECH) filed a press release with exchanges on 13 August 2026 announcing the expansion of its partnership with NetApp to offer hybrid cloud storage-as-a-service, combining HCLTech's U4X framework with NetApp Keystone to support enterprise AI and GenAI workloads at scale.
Key Highlights
- HCLTech and NetApp have expanded their collaboration to deliver a hybrid cloud storage-as-a-service offering built on a consumption-based, pay-as-you-go model for enterprise clients.
- The integrated solution combines HCLTech's Utility for Everything (U4X) digital infrastructure framework with NetApp Keystone, targeting AI, GenAI, and traditional enterprise workloads.
- A global food and beverage company and a European telecommunications provider are cited in the announcement as organisations that have already deployed this combined offering.
- HCLTech reported consolidated revenues of $14.8 billion for the 12 months ending June 2026, according to the company's disclosure within the announcement.
About the Company
HCL Technologies Limited (NSE:HCLTECH), headquartered in Noida, Uttar Pradesh, is a global IT services and technology company with more than 223,000 employees across 60 countries. The company delivers services spanning AI, digital transformation, engineering, cloud, and software across sectors including financial services, manufacturing, life sciences, telecom, and retail. Its registered office is located at 806 Siddharth, 96 Nehru Place, New Delhi.
Announcement in Detail
According to the exchange filing dated 13 August 2026, HCLTech and NetApp have deepened their existing collaboration to bring a hybrid cloud storage-as-a-service product to market. The offering integrates HCLTech's U4X digital infrastructure framework with NetApp Keystone, which is NetApp's pay-as-you-go storage service. The combined product is designed to allow enterprises to scale storage capacity, performance, and data services on demand, while also supporting AI development, deployment, and operations through HCLTech's AI Factory suite.
The announcement highlights that the solution strengthens data readiness and governance, and enables organisations to run workloads closer to where data resides. Rampal Singh, Senior Vice President of the Hybrid Cloud Business Unit at HCLTech, stated in the release that the collaboration is aimed at helping enterprises scale AI in a pragmatic and efficient manner. Alvaro Celis, Chief Partner and Ecosystem Officer at NetApp, described the collaboration as giving customers access to NetApp's intelligent data infrastructure through a flexible business model backed by HCLTech's operational expertise.
Impact on Investors
Investors will note that this announcement represents a partnership expansion rather than a new financial agreement with disclosed contract value or revenue commitment. The filing does not specify deal size, revenue contribution, or margin impact attributable to this arrangement. Shareholders will observe that the offering is positioned within HCLTech's broader hybrid cloud and AI services portfolio, which the company has been building out as a strategic growth area alongside its core IT services business.
The disclosed terms indicate that the consumption-based model could broaden HCLTech's addressable client base by reducing upfront infrastructure commitments for enterprise customers, though no specific client additions or revenue targets are stated in the filing. Investors should review the official exchange document for the complete scope of the arrangement.
Sector / Market Context
India's IT services industry has seen sustained investment in AI-linked infrastructure offerings, with large-cap firms extending partnerships with global hyperscalers and storage vendors to capture enterprise modernisation spending. According to NASSCOM, India's technology sector crossed $250 billion in aggregate revenues in FY25, with cloud and AI services cited among the fastest-growing sub-segments. Hybrid cloud adoption across regulated industries such as telecom and financial services has increased demand for consumption-based infrastructure models that align cost with actual workload usage.