HCL Technologies spends Rs 176.29 Crore on CSR activities in 2019-20; Major focus on rural development

New Delhi, 22 October 2020: Continuing its good work towards making transformative shifts in the lives of vulnerable communities in India, HCL Technologies has this financial year spent a whopping amount of Rs 176.29 Crore under its Corporate Social Responsibility (CSR) and other charitable activities.

The average net profit of the company for the last three financial years stood at RS 8,650.26 Crore. Therefore, the company’s prescribed CSR budget (2 per cent of the average net profit of the past three years) was calculated as Rs 173.01 Crore. However, the company spent Rs 3.28 Crore more than its prescribed budget this financial year.

The major decisions related to CSR activities and projects are taken by the CSR Committee which is headed by Roshni Nadar Malhotra and comprises Shiv Nadar and S Madhavan.  The committee met thrice during the financial year ending March31, 2020.

HCL has undertaken its CSR activities through HCL Foundation, a Trust established by the company and through implementing agencies.

Expenditure on key focus areas:

With the objective to address the needs of the disadvantaged, vulnerable and marginalised sections of the society, the company has undertaken its CSR activities through HCL Samuday, HCL Grant, HCL Uday and Power of One.

HCL Grant: In the fifth edition, HCL Grant received over 5,000 registrations from NGOs representing all states of India in the categories of Environment, Health and Education. The final three recipients of the fifth edition of HCL Grant were selected after robust field assessment, due diligence and deliberations at the Sub-jury and Jury rounds.

HCL Uday: With a vision of clean, green, healthy and empowered communities, HCL Foundation works to break the cycle of urban poverty through its integrated urban development program - HCL Uday. Defining Uday’s approach is its intrinsic belief that the urban poor aspire to a life of dignity and self-respect. Through this program, HCL Foundation creates opportunities through carefully designed strategies that speak both to their environment and to the ambitions of the community.

HCL Samuday: HCL Samuday A rural development initiative, HCL Samuday was launched in 2015 with an aim to develop a sustainable, scalable and replicable model - a source code for economic and social development of rural areas. Currently implemented in three blocks of Hardoi district in Uttar Pradesh, the program covers 164 Gram Panchayats, comprising 765 villages and 90,000 households, totalling a population of 600,000 people.

Power of One: Power of One is the backbone for our employee-led CSR and one of the key programs of HCL Foundation. Power of One was introduced with the idea that a small contribution can make a huge difference in people’s lives and can go a long way in making a significant impact in society.