Prior to the official announcement of its Q3 FY26 results on January 12, 2026, IT major HCLTech was widely expected by analysts to report strong financial performance. The Economic Times article, published on January 11, 2026, highlighted expectations of 'double-digit revenue growth' and 'margin recovery.' This aligns with consensus analyst forecasts, which estimated year-on-year revenue growth of approximately 12%. While quarter-on-quarter revenue growth was projected to be in the single-digit range, typically between 2.2% and 5% in constant currency, the headline accurately captured the more optimistic year-on-year projections. Brokerages largely anticipated a sequential expansion in EBIT margins, driven by favourable seasonality in the products and platforms business. Estimates for EBIT margin improvement ranged from 60 to 110 basis points quarter-on-quarter, with the margin expected to reach around 18.09% to 18.5%. This recovery was, however, expected to be partially offset by the impact of wage hikes and restructuring costs. Investor attention was also keenly focused on any potential revisions to the company's full-year FY26 revenue growth guidance, which was initially set at 3-5% in constant currency, and services revenue growth guidance of 4-5%. The company's board was also slated to consider and announce a fourth interim dividend for FY26, continuing its tradition of consistent shareholder returns. Other key monitorables included commentary on deal wins, demand visibility for calendar year 2026, and the traction of AI-led revenue opportunities. The overall sentiment ahead of the results was positive, with analysts expecting HCLTech to demonstrate robust execution and leverage its seasonal strengths, positioning it among the faster-growing large-cap IT service providers for the quarter.