<?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>0001373630</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>Kapoor Rohit</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>COMMON</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>MERRILL PRIVATE WEALTH MANAGEMENT</name>
        <address>
          <com:street1>555 CALIFORNIA STREET</com:street1>
          <com:street2>SUITE 1800</com:street2>
          <com:city>SAN FRANCISCO</com:city>
          <com:stateOrCountry>CA</com:stateOrCountry>
          <com:zipCode>94104</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>100000</noOfUnitsSold>
      <aggregateMarketValue>4165000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>160882437</noOfUnitsOutstanding>
      <approxSaleDate>11/04/2024</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>COMMON</securitiesClassTitle>
      <acquiredDate>01/29/2024</acquiredDate>
      <natureOfAcquisitionTransaction>OPTIONS EXERCISE</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>ExlService Holdings, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>354000</amountOfSecuritiesAcquired>
      <paymentDate>01/29/2024</paymentDate>
      <natureOfPayment>CASH TRANSFER</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>08/08/2024</saleDate>
      <amountOfSecuritiesSold>40000</amountOfSecuritiesSold>
      <grossProceeds>1361931.12</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>08/09/2024</saleDate>
      <amountOfSecuritiesSold>40000</amountOfSecuritiesSold>
      <grossProceeds>1382006.48</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>08/14/2024</saleDate>
      <amountOfSecuritiesSold>50000</amountOfSecuritiesSold>
      <grossProceeds>1721898.85</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>08/29/2024</saleDate>
      <amountOfSecuritiesSold>35000</amountOfSecuritiesSold>
      <grossProceeds>1266185.66</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>08/30/2024</saleDate>
      <amountOfSecuritiesSold>34348</amountOfSecuritiesSold>
      <grossProceeds>1246976.80</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>ROHIT KAPOOR</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>ExlService Holdings, Inc.</securitiesClassTitle>
      <saleDate>11/01/2024</saleDate>
      <amountOfSecuritiesSold>100000</amountOfSecuritiesSold>
      <grossProceeds>4144976.90</grossProceeds>
    </securitiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>11/04/2024</noticeDate>
      <signature>ROHIT KAPOOR</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
