Hexaware bets big on AI, talent, and global expansion

In July 2026, Hexaware unveiled Tensai® for Reasoning Ops, a pioneering agentic AI platform that transcends traditional scripted automation by autonomously reasoning over live operational data and enterprise context. This innovation enables mid-to-large enterprises to shift from reactive IT support to preventive, autonomous operations, delivering tangible benefits such as 25–40% faster mean time to resolution, a 35–45% reduction in manual interventions, and up to 20% improvement in SLA adherence and user experience.

Shortly after launching Tensai®, Hexaware appointed Srinivasan Panchapakesan as its first Chief Platform Officer to spearhead the unification of its AI and cloud platforms—including Amaze, RapidX, Tensai, and Agentverse—across major cloud providers like AWS, Azure, and Google Cloud. This strategic move reflects CEO R. Srikrishna’s vision of a platform-led future, aiming to transition enterprises from fragmented AI pilots to scalable, auditable, and governance-compliant AI deployments that consolidate AI-native services under a cohesive architecture.

Further accelerating its AI-driven modernization agenda, Hexaware integrated Factory’s Droid platform into its software engineering workflows, reporting an impressive 5x to 10x surge in production-ready output during its internal “Customer Zero” pilot. By embedding AI agents into development toolchains like GitHub, Jira, and Azure DevOps, the Droid platform targets legacy modernization, technical debt reduction, and large-scale refactoring—especially within heavily regulated banking and financial services sectors—while emphasizing governance, compliance, and audit-ready documentation.

Hexaware’s innovative use of AI agents within software delivery not only promises to revolutionize enterprise modernization but also has the potential to fundamentally reshape workforce structures and delivery models. Company executives underscore that the commercial success of this approach hinges on scaling adoption across industries while maintaining rigorous governance and compliance frameworks, signaling a careful balance between rapid innovation and enterprise-grade reliability.

Hexaware’s strategic expansion in India is exemplified by its new delivery center at Gujarat International Finance Tec-City (GIFT City), launched in June 2026 to bolster services for global BFSI clients through advanced digital, AI, cloud, and next-gen software capabilities. This center is projected to generate around 1,000 high-skilled jobs over three years, focusing on software engineering, AI, data analytics, and customer experience, reflecting Hexaware’s commitment to cultivating a talent pool closely aligned with its market priorities while reinforcing Gujarat’s emergence as a competitive financial and technology hub.

Simultaneously, Hexaware is making a bold £25 million investment to expand its UK presence by creating 1,200 high-skilled roles across Manchester, Leeds, and Birmingham, targeting AI, digital services, and quantum computing sectors. The establishment of new R&D centers in Manchester and Leeds, alongside the expansion of Birmingham’s delivery hub, underscores a deliberate effort to nurture local talent and advance cutting-edge research, including a quantum computing roadmap focused on quantum-resilient software frameworks. This initiative, recognized by the UK Government at the 2026 G7 Summit, aligns with national priorities such as AI innovation and clean energy, positioning Hexaware as a key player in modernizing public-sector services and driving long-term economic growth.

Hexaware's strategic alliance with SmartRent marks a transformative leap in AI-driven operational efficiency, targeting an ambitious 75-day reduction in Days Sales Outstanding (DSO) across more than 911,000 rental units by 2026. This collaboration deploys cutting-edge Voice AI agents and an intelligent bill-to-cash platform, alongside modernizing lead-to-order workflows through Salesforce Revenue Cloud Advanced, exemplifying Hexaware's prowess in integrating AI, automation, and human expertise. As SmartRent CEO Frank Martell and Hexaware President Eravi Gopan emphasize, this partnership not only accelerates SmartRent’s Vision 2028 but also crafts scalable, competitive operating models tailored for regulated industries, ultimately enhancing client value and customer outcomes.

By early 2026, Hexaware showcased solid financial momentum with Q1CY26 revenue reaching USD 388.5 million, a 4.6% year-over-year increase, and earnings per share rising 7.2% to INR 5.77. This growth was underpinned by strong operational efficiency, reflected in a robust EBIT margin of 13% and an impressive operating cash flow to profit conversion rate exceeding 125%, signaling healthy cash generation and disciplined cost management.

Building on this foundation, Hexaware accelerated growth in Q2CY26 with revenue climbing to USD 405.4 million, marking a 6.1% year-over-year and 4.4% quarter-over-quarter increase, alongside an EBIT margin expansion to 13.6%. The company’s strategic client acquisition continued, adding a new USD 20 million+ customer to bring that segment’s total to 16, while maintaining a concentrated yet stable top 10 client revenue share near 36%. Operational metrics such as a workforce of 34,506 employees, an IT voluntary attrition rate of 11.2%, and an IT utilization rate of 84.8% further supported sustained delivery capacity amid ongoing macroeconomic headwinds.

Hexaware’s growth trajectory is bolstered by its ability to secure strategic deals across diverse sectors including biotechnology, capital markets, education, and fintech, leveraging AI-driven digital transformation to fuel innovation and client value. Despite macroeconomic challenges and contract execution delays, management, led by R. Srikrishna, remains confident in achieving a targeted annual growth rate of 6% to 7%, which translates to a steady quarterly growth rate of 2.7%, underscoring disciplined execution of its AI-enabled enterprise modernization strategy.