<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001373633</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <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>Bhalla Vikas</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <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>11774</noOfUnitsSold>
      <aggregateMarketValue>470842.26</aggregateMarketValue>
      <noOfUnitsOutstanding>158700885</noOfUnitsOutstanding>
      <approxSaleDate>12/02/2025</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <acquiredDate>01/29/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Restricted Stock Vesting</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>11774</amountOfSecuritiesAcquired>
      <paymentDate>01/29/2024</paymentDate>
      <natureOfPayment>Compensation</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Vikas Bhalla</name>
        <address>
          <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>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <saleDate>09/10/2025</saleDate>
      <amountOfSecuritiesSold>8000</amountOfSecuritiesSold>
      <grossProceeds>350080.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>12/02/2025</noticeDate>
      <signature>/s/ Eric Janiak, as a duly authorized representative of Fidelity Brokerage Services LLC, as attorney-in-fact for Vikas Bhalla</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
