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L&T Technology Services Limited (LTOUF) has been selected as a strategic engineering partner by Airbus under a multi-year contract to provide Advanced Engineering Capabilities and Digital Manufacturing Services. This collaboration enhances their long-standing partnership, focusing on Commercial and Innovation programs. LTTS will support Airbus across various verticals, including engineering and avionics, and engage in activities like Numerical Control Programming and advanced failure analysis. The engineering work will be performed from LTTS’ locations in India and Europe. This contract reinforces LTTS's position as a leader in global engineering and R&D.
LTIMindtree has successfully migrated Desjardins Group's segregated fund offerings to its proprietary Unitrax® platform in Canada. This migration enhances the existing mutual fund services already hosted on Unitrax® and integrates additional cloud-based solutions like WealthDecisions and WealthLink. As a result, clients will experience a streamlined platform that improves time-to-market for new products and provides better insights. Both companies emphasized their long-standing partnership, with LTIMindtree leveraging its expertise to ensure a smooth transition for Desjardins Group.
L&T Technology Services Limited has inaugurated two new design and prototyping centers in Peoria, Illinois, aimed at enhancing digital engineering programs. The 1DigitalPlace and Electrification & Prototyping Center focus on digital manufacturing and next-gen electrification solutions in sectors like transportation and medical. Over the next 36 months, LTTS plans to hire more than 500 engineers, boosting local job opportunities. The expansion underscores LTTS's commitment to driving innovation and improving customer experiences with advanced manufacturing technologies.
The merger between Larsen & Toubro Infotech (LTI) and Mindtree has received approval from the National Company Law Tribunal (NCLT), facilitating the formation of LTIMindtree, a prominent IT services provider in India. Set to operate as a unified entity starting November 14, 2022, LTIMindtree will serve over 750 global enterprises and employ nearly 90,000 professionals. Each Mindtree shareholder will receive 73 LTI shares for every 100 Mindtree shares. The merger aims to enhance service offerings and market reach, positioning LTIMindtree as the fifth largest IT company in India.
Fosfor, the Data Products Unit of Larsen & Toubro Infotech, has received Snowflake Technology Ready status for its DataOps product, Spectra, and Decision Intelligence product, Lumin. This validation confirms that these products meet Snowflake’s performance, reliability, and security standards. The approval is part of Snowflake's program that audits companies for native integration. The partnership aims to maximize the potential of data for enterprises globally, enhancing decision-making and operational efficiency.
L&T Technology Services Limited has launched its new Engineering Research & Development Center in Toronto, Ontario. This center will focus on developing digital solutions for the transportation sector, particularly in railway engineering. LTTS plans to hire over 100 engineers in the next 18-24 months, aiming to enhance its presence in North America. The center is designed to serve Canadian clients and act as a nearshore site for North American customers, enabling innovative digital engineering initiatives.
Larsen & Toubro Infotech (LTOUF) reported its Q2 FY23 results, showcasing strong revenue growth. In USD, it achieved USD 601.0 million in revenue, with 3.6% QoQ and 18.1% YoY growth. Constant currency revenue growth was 4.6% QoQ and 21.6% YoY. In INR, revenue reached INR 48,367 million (up 6.9% QoQ and 28.4% YoY), while net income was INR 6,798 million (up 7.2% QoQ and 23.2% YoY). The company is near completing its merger with Mindtree, expected to enhance its service offerings and customer base.
L&T Technology Services Limited (LTTS) has partnered with Qualcomm Technologies to develop end-to-end solutions in the global 5G Private Network space aimed at the manufacturing and warehousing sectors. This collaboration leverages both companies' strengths in telecommunications to enhance Industry 4.0 capabilities. LTTS will establish an engineering center in Santa Clara, California, to expedite the adoption of 5G technologies. The partnership is expected to transform manufacturing and supply chain processes through advanced 5G integration.
L&T Technology Services Limited has launched the inaugural Digital Engineering Awards in partnership with Information Services Group and CNBC TV18. The initiative aims to recognize leaders who exhibit innovative approaches in digital engineering that enhance performance and sustainability. Nominations are open until
L&T Technology Services (LTTS) has secured a 5-year, multi-million-dollar contract with BMW Group to deliver high-end engineering services for infotainment consoles aimed at hybrid vehicles. This strategic win highlights LTTS's expertise in transportation technologies and its capability to enhance existing projects.
LTTS will leverage its Near Shore Center for real-time solutions, focusing on software integration, validation, and defect management. This collaboration strengthens LTTS’s position in the automotive sector and supports BMW’s commitment to sustainable vehicle innovation.
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