We have an application written in C/C++ code running on 32-bits windows with 32-bit Hardware. My question is that if we upgrade our hardware to 64-bit and keep our OS 32-bit, does my application need a port to 64-bit? If it requires, what benefits will be there on a 32 bit OS?
Hardware doesn't count -- the OS does. Ergo:
The advantage of recompiling for 64 bit is access to more than 3GB ram and a speed increase if you operate on 64 bit datatypes or take advantage of compiler intristics (and a few others, but do not count on a immedate gain).