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        <liveTestFlag>LIVE</liveTestFlag>
  
  
  
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        <issuerCik>0001297989</issuerCik>
        <issuerName>ExlService Holdings, Inc.</issuerName>
        <secFileNumber>001-33089</secFileNumber>
        <issuerAddress>
          <com:street1>320 PARK AVENUE</com:street1>
          <com:street2>29TH FLOOR</com:street2>
          <com:city>NEW YORK</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10022</com:zipCode>
        </issuerAddress>
        <issuerContactPhone>(212) 277-7100</issuerContactPhone>
        <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Mahon Anita</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
        <relationshipsToIssuer>
          <relationshipToIssuer>Officer</relationshipToIssuer>
        </relationshipsToIssuer>
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      <securitiesInformation>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <brokerOrMarketmakerDetails>
          <name>Fidelity Brokerage Services LLC</name>
          <address>
            <com:street1>900 Salem Street</com:street1>
            <com:city>Smithfield</com:city>
            <com:stateOrCountry>RI</com:stateOrCountry>
            <com:zipCode>02917</com:zipCode>
          </address>
        </brokerOrMarketmakerDetails>
        <noOfUnitsSold>12360</noOfUnitsSold>
        <aggregateMarketValue>562503.60</aggregateMarketValue>
        <noOfUnitsOutstanding>162304673</noOfUnitsOutstanding>
        <approxSaleDate>04/15/2025</approxSaleDate>
        <securitiesExchangeName>NASDAQ</securitiesExchangeName>
      </securitiesInformation>
      <securitiesToBeSold>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <acquiredDate>01/27/2025</acquiredDate>
        <natureOfAcquisitionTransaction>Restricted Stock Vesting</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>12360</amountOfSecuritiesAcquired>
        <paymentDate>01/27/2025</paymentDate>
        <natureOfPayment>Compensation</natureOfPayment>
      </securitiesToBeSold>
      <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Anita M. Mahon</name>
          <address>
            <com:street1>320 Park Avenue, 29th Floor,</com:street1>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10022</com:zipCode>
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        <securitiesClassTitle>Common</securitiesClassTitle>
        <saleDate>02/19/2025</saleDate>
        <amountOfSecuritiesSold>6071</amountOfSecuritiesSold>
        <grossProceeds>307799.70</grossProceeds>
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      <securitiesSoldInPast3Months>
        <sellerDetails>
          <name>Anita M. Mahon</name>
          <address>
            <com:street1>320 Park Avenue, 29th Floor</com:street1>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10022</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <saleDate>02/28/2025</saleDate>
        <amountOfSecuritiesSold>2729</amountOfSecuritiesSold>
        <grossProceeds>131865.28</grossProceeds>
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            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10022</com:zipCode>
          </address>
        </sellerDetails>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <saleDate>03/11/2025</saleDate>
        <amountOfSecuritiesSold>10558</amountOfSecuritiesSold>
        <grossProceeds>484823.36</grossProceeds>
      </securitiesSoldInPast3Months>
      <noticeSignature>
        <noticeDate>04/15/2025</noticeDate>
        <planAdoptionDates>
          <planAdoptionDate>11/04/2024</planAdoptionDate>
        </planAdoptionDates>
        <signature>/s/ Gary Redman, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Anita M. Mahon</signature>
      </noticeSignature>
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text: 144
  0001805281
  XXXXXXXX
  LIVE
  0001297989
  ExlService Holdings, Inc.
  001-33089
  320 PARK AVENUE
  29TH FLOOR
  NEW YORK
  NY
  10022
  (212) 277-7100
  Mahon Anita
  Officer
  Common
  Fidelity Brokerage Services LLC
  900 Salem Street
  Smithfield
  RI
  02917
  12360
  562503.60
  162304673
  04/15/2025
  NASDAQ
  Common
  01/27/2025
  Restricted Stock Vesting
  Issuer
  N
  12360
  01/27/2025
  Compensation
  N
  Anita M. Mahon
  320 Park Avenue, 29th Floor,
  New York
  NY
  10022
  Common
  02/19/2025
  6071
  307799.70
  Anita M. Mahon
  320 Park Avenue, 29th Floor
  New York
  NY
  10022
  Common
  02/28/2025
  2729
  131865.28
  Anita M. Mahon
  320 Park Avenue, 29th Floor
  New York
  NY
  10022
  Common
  03/11/2025
  10558
  484823.36
  04/15/2025
  11/04/2024
  /s/ Gary Redman, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Anita M. Mahon