HGS Reports Q4 & Full-Year FY2025 Results
Mumbai, May 29th, 2025: Hinduja Global Solutions (HGS or the Company) (listed on BSE & NSE) today announced its fourth quarter and audited full-year results for FY2025.
Financial Highlights for Q4 FY2025
HGS Consolidated
· Total Income stood at Rs. 1,297.7 crore.
· Total EBITDA was Rs. 279.2 crore; EBITDA margins were 21.5%.
· Revenue from operations stood at Rs. 1,161.1 crore.
· PAT for the quarter was near to break even at (1.7 crore)
· As on March 31, 2025, Net Cash and Treasury Surplus was Rs. 5,167.8 crore.
Financial Highlights for Full-Year FY2025
HGS Consolidated
· Total Income stood at Rs. 4,958.8 crore.
· Total EBITDA was Rs. 811.8 crore; EBITDA margins were 16.4%.
· PAT for the period was Rs. 100.7 crore (including Discontinued operations profit).
· Revenue from operations stood at Rs. 4,404.2 crore.
In view of the impending retirement of both Partha DeSarkar, Group CEO and Srinivas Palakodeti, CFO, the Board has approved, with immediate effect, the elevation of Mr. Venkatesh Korla, President & CEO, HGS Americas, as the new Global CEO of HGS and elevation of Mr. Mahesh Kumar Nutalapati, Deputy CFO, as the new Global CFO, respectively.
Venkatesh is an accomplished business leader with 25+ years of experience in core digital services and tech-enabled customer experience (CX). He has an impressive track record of growing high-performance teams globally and fostering lasting client relationships. In his earlier stints, he has been part of organisations providing expert consultation on digital strategies and solutions to Global 1000 companies, healthcare institutions, universities, and not-for-profit organisations. He also founded Element Solutions, later acquired by HGS and now forming the foundation of HGS’ tech services business, that delivers strategic consulting, data analytics, marketing technology, intelligent automation, and cloud solutions to clients across the private and public sectors.
Mr. Mahesh Kumar Nutalapati, who joined HGS earlier in February, is a Chartered Accountant with over 24 years of experience in various aspects of Finance. He brings extensive expertise in Financial Transformations, Risk management, Business enablement, IPOs, M&As – strategic evaluations & funding, Global Audit & Treasury management, establishment and management of Global Capability Centres (GCCs). He has also spearheaded multiple cost optimization initiatives and contributed significantly to the formulation of ESG framework in his career. Mahesh has an impressive track record of driving financial strategy and advancing operational excellence.
Mr. Ashok P. Hinduja, Chairman, HGS said, “The company is currently evolving to align towards an AI-led future in line with the technology changes in the market and evolving client needs. Venkatesh, with his deep expertise and proven track record of leading digital transformation at scale, is the right person to lead HGS’ future growth with a digital approach. On behalf of the Board, I would like to congratulate him and am looking forward to collaborating on the new journey ahead.”
Speaking on his elevation as the new Global CEO, Venkatesh Korla said, “It is a tremendous honour to take on the role of Global CEO at HGS. I step into this position with deep respect for the legacy we’ve built so far, led by the strong leadership of Partha DeSarkar, and a sense of great excitement for how we can shape the future. Our people are our greatest strength, and by combining their passion with the power of technology, we will create meaningful, human-centered solutions that redefine how we serve our clients and their customers, and accelerate our journey as a digitally-led organisation.”
Business Highlights for Q4 FY2025
· Cli
· Client wins in Q4 FY2025:
– Added 13 new logos for digital-enabled CX solutions and 12 for HRO/ Payroll Processing.
– Expanded our engagement with 65+ existing clients for HGS’ core CX and digital solutions (intelligent automation, AI, analytics, digital engagement, cloud and social care, etc).
· Clientele: As of March 31, 2025, HGS had 375 active CX/ Digital clients and 833 HRO/Payroll processing clients/brands. Digital Media business (NXTDIGITAL) has a customer base of over 6 million through Digital Television & Broadband.
· Employee Headcount: 18,347 as of March 31, 2025.
· Geo Presence:
− As of March 31, 2025, HGS had presence in nine countries, including 32 global delivery centers.
− New center to deliver AI Platform technology services was launched in Bengaluru in January 2025.
− Digital Media business covers 4,500+ pin codes covered in India, two lakh kilometers of owned + partner fibre networks, and 125+ owned-and-operated NXTHUBs set up across India.
· Awards & Analyst Recognition:
− HGS secured mention as one of the prominent players in Everest Group’s “Creating Value with a Purpose: Impact Sourcing State of the Market 2024” report.
− Won two awards at the 2025 Stevie® Asia Pacific Awards: Silver in the category – Achievement for Corporate Social Responsibility for the project on Integrated Water Management for Sustainable Development in Ajmer, Rajasthan, India, and Bronze in the category – Innovative Use of Technology in Customer Service.
− HGS Canada and HGS Philippines were Great Place to Work® certified in February 2025.
− HGS India’s Women Returnee Program ‘Resume to Work’ named among the Top 20 Most Innovative Practices at the AccelHERate and DivHERsity Awards 2025.
· Highlights from the Digital Media business:
− Incorporated a wholly-owned subsidiary HGS Digital Private Limited on April 1, 2025. The focus of the new entity is to establish, operate and maintain broadband, fiberoptic and digital communication networks for enterprises, government institutions and commercial establishments as well as provide high-speed internet, data connectivity and managed digital services.
Speaking on the results, Partha DeSarkar, Whole-time Director and Group CEO of HGS said: “FY2025 has been a tough year due to global economic and political uncertainties and elongated decision-making cycles, resulting in lower than anticipated financial performance for HGS. During the year, we focused on streamlining operations and optimizing costs while accelerating our investments in developing technology solutions and expanding delivery capabilities in India and South Africa.
As we evolve to become a tech-led CX services company, we have invested in AI-enabled solutions like HGS Agent X to expand our offerings to drive efficiencies and unlock value for our clients. We have sharpened our go-to-market strategy by developing tech-led, industry-specific solutions for BFSI, consumer & retail, and TMT verticals such as Anti-money Laundering and Video AI-based Workplace Safety Solutions. This approach, combined with our core BPM services, is gaining traction with the signing of several client engagements that fall into the Digital Operations segment.
We signed several new contracts during the second half of FY2025 and revenues from these logos are expected to grow significantly in FY2026. Our pipeline is looking healthy and we expect the share of digital services revenues to increase in the new fiscal.
Looking ahead, while deal conversion cycles continue to remain long, we will continue to invest in sales and technology solutions. We are committed to building an agile, intelligent and resilient organization – one that delivers sustainable value to clients, employees and other stakeholders.”
Commenting on the Digital Media division’s performance, Vynsley Fernandes, Whole-time Director of HGS and CEO of the Media Business said, “The broadband vertical continued to grow on the back of the pan-India digital television customer base – especially in Tier-II & Tier-III markets. This is apparent from the subscriber mix – where 27% of the revenues for FY2025 have come from the organic retail segment. We’ve just rolled out our IPTV service to enhance our product offerings, and hope to extend it to key cities in early Q2. The Enterprise arm of the vertical – CelerityX has also seen key wins in the last fiscal and continues to grow its corporate customer base.
The company’s focus in FY2026 is to accelerate growth across key media segments and has invested in strengthening the national and regional leadership – ramping up on a 360-degree organization across frontline sales, product development, customer experience and technology innovation. On the digital television front, whilst the overall industry continues to face significant headwinds, the vertical has improved its ARPUs over last fiscal – through innovative packaging.”