diff --git a/packages/angular/build/src/tools/angular/compilation/angular-compilation.ts b/packages/angular/build/src/tools/angular/compilation/angular-compilation.ts
index 4cb4852e54f7..2e44e0bdab33 100644
--- a/packages/angular/build/src/tools/angular/compilation/angular-compilation.ts
+++ b/packages/angular/build/src/tools/angular/compilation/angular-compilation.ts
@@ -76,6 +76,7 @@ export abstract class AngularCompilation {
     compilerOptions: ng.CompilerOptions;
     referencedFiles: readonly string[];
     externalStylesheets?: ReadonlyMap<string, string>;
+    templateUpdates?: ReadonlyMap<string, string>;
   }>;
 
   abstract emitAffectedFiles(): Iterable<EmitFileResult> | Promise<Iterable<EmitFileResult>>;
diff --git a/packages/angular/build/src/tools/angular/compilation/aot-compilation.ts b/packages/angular/build/src/tools/angular/compilation/aot-compilation.ts
index 9e566803fb58..cbfe70a3e5e5 100644
--- a/packages/angular/build/src/tools/angular/compilation/aot-compilation.ts
+++ b/packages/angular/build/src/tools/angular/compilation/aot-compilation.ts
@@ -8,6 +8,7 @@
 
 import type ng from '@angular/compiler-cli';
 import assert from 'node:assert';
+import { relative } from 'node:path';
 import ts from 'typescript';
 import { profileAsync, profileSync } from '../../esbuild/profiling';
 import {
@@ -47,6 +48,7 @@ export class AotCompilation extends AngularCompilation {
     compilerOptions: ng.CompilerOptions;
     referencedFiles: readonly string[];
     externalStylesheets?: ReadonlyMap<string, string>;
+    templateUpdates?: ReadonlyMap<string, string>;
   }> {
     // Dynamically load the Angular compiler CLI package
     const { NgtscProgram, OptimizeFor } = await AngularCompilation.loadCompilerCli();
@@ -91,6 +93,40 @@ export class AotCompilation extends AngularCompilation {
     );
 
     await profileAsync('NG_ANALYZE_PROGRAM', () => angularCompiler.analyzeAsync());
+
+    let templateUpdates;
+    if (
+      compilerOptions['_enableHmr'] &&
+      hostOptions.modifiedFiles &&
+      hasOnlyTemplates(hostOptions.modifiedFiles)
+    ) {
+      const componentNodes = [...hostOptions.modifiedFiles].flatMap((file) => [
+        ...angularCompiler.getComponentsWithTemplateFile(file),
+      ]);
+
+      for (const node of componentNodes) {
+        if (!ts.isClassDeclaration(node)) {
+          continue;
+        }
+        const componentFilename = node.getSourceFile().fileName;
+        let relativePath = relative(host.getCurrentDirectory(), componentFilename);
+        if (relativePath.startsWith('..')) {
+          relativePath = componentFilename;
+        }
+        const updateId = encodeURIComponent(
+          `${host.getCanonicalFileName(relativePath)}@${node.name?.text}`,
+        );
+        const updateText = angularCompiler.emitHmrUpdateModule(node);
+        if (updateText === null) {
+          // Build is needed if a template cannot be updated
+          templateUpdates = undefined;
+          break;
+        }
+        templateUpdates ??= new Map<string, string>();
+        templateUpdates.set(updateId, updateText);
+      }
+    }
+
     const affectedFiles = profileSync('NG_FIND_AFFECTED', () =>
       findAffectedFiles(typeScriptProgram, angularCompiler, usingBuildInfo),
     );
@@ -131,6 +167,7 @@ export class AotCompilation extends AngularCompilation {
       compilerOptions,
       referencedFiles,
       externalStylesheets: hostOptions.externalStylesheets,
+      templateUpdates,
     };
   }
 
@@ -385,3 +422,16 @@ function findAffectedFiles(
 
   return affectedFiles;
 }
+
+function hasOnlyTemplates(modifiedFiles: Set<string>): boolean {
+  for (const file of modifiedFiles) {
+    const lowerFile = file.toLowerCase();
+    if (lowerFile.endsWith('.html') || lowerFile.endsWith('.svg')) {
+      continue;
+    }
+
+    return false;
+  }
+
+  return true;
+}
diff --git a/packages/angular/build/src/tools/angular/compilation/parallel-worker.ts b/packages/angular/build/src/tools/angular/compilation/parallel-worker.ts
index a9d1816ac76d..2669951c12e4 100644
--- a/packages/angular/build/src/tools/angular/compilation/parallel-worker.ts
+++ b/packages/angular/build/src/tools/angular/compilation/parallel-worker.ts
@@ -42,60 +42,62 @@ export async function initialize(request: InitRequest) {
     }
   });
 
-  const { compilerOptions, referencedFiles, externalStylesheets } = await compilation.initialize(
-    request.tsconfig,
-    {
-      fileReplacements: request.fileReplacements,
-      sourceFileCache,
-      modifiedFiles: sourceFileCache.modifiedFiles,
-      transformStylesheet(data, containingFile, stylesheetFile, order, className) {
-        const requestId = randomUUID();
-        const resultPromise = new Promise<string>((resolve, reject) =>
-          stylesheetRequests.set(requestId, [resolve, reject]),
-        );
-
-        request.stylesheetPort.postMessage({
-          requestId,
-          data,
-          containingFile,
-          stylesheetFile,
-          order,
-          className,
-        });
-
-        return resultPromise;
+  const { compilerOptions, referencedFiles, externalStylesheets, templateUpdates } =
+    await compilation.initialize(
+      request.tsconfig,
+      {
+        fileReplacements: request.fileReplacements,
+        sourceFileCache,
+        modifiedFiles: sourceFileCache.modifiedFiles,
+        transformStylesheet(data, containingFile, stylesheetFile, order, className) {
+          const requestId = randomUUID();
+          const resultPromise = new Promise<string>((resolve, reject) =>
+            stylesheetRequests.set(requestId, [resolve, reject]),
+          );
+
+          request.stylesheetPort.postMessage({
+            requestId,
+            data,
+            containingFile,
+            stylesheetFile,
+            order,
+            className,
+          });
+
+          return resultPromise;
+        },
+        processWebWorker(workerFile, containingFile) {
+          Atomics.store(request.webWorkerSignal, 0, 0);
+          request.webWorkerPort.postMessage({ workerFile, containingFile });
+
+          Atomics.wait(request.webWorkerSignal, 0, 0);
+          const result = receiveMessageOnPort(request.webWorkerPort)?.message;
+
+          if (result?.error) {
+            throw result.error;
+          }
+
+          return result?.workerCodeFile ?? workerFile;
+        },
       },
-      processWebWorker(workerFile, containingFile) {
-        Atomics.store(request.webWorkerSignal, 0, 0);
-        request.webWorkerPort.postMessage({ workerFile, containingFile });
+      (compilerOptions) => {
+        Atomics.store(request.optionsSignal, 0, 0);
+        request.optionsPort.postMessage(compilerOptions);
 
-        Atomics.wait(request.webWorkerSignal, 0, 0);
-        const result = receiveMessageOnPort(request.webWorkerPort)?.message;
+        Atomics.wait(request.optionsSignal, 0, 0);
+        const result = receiveMessageOnPort(request.optionsPort)?.message;
 
         if (result?.error) {
           throw result.error;
         }
 
-        return result?.workerCodeFile ?? workerFile;
+        return result?.transformedOptions ?? compilerOptions;
       },
-    },
-    (compilerOptions) => {
-      Atomics.store(request.optionsSignal, 0, 0);
-      request.optionsPort.postMessage(compilerOptions);
-
-      Atomics.wait(request.optionsSignal, 0, 0);
-      const result = receiveMessageOnPort(request.optionsPort)?.message;
-
-      if (result?.error) {
-        throw result.error;
-      }
-
-      return result?.transformedOptions ?? compilerOptions;
-    },
-  );
+    );
 
   return {
     externalStylesheets,
+    templateUpdates,
     referencedFiles,
     // TODO: Expand? `allowJs`, `isolatedModules`, `sourceMap`, `inlineSourceMap` are the only fields needed currently.
     compilerOptions: {