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Larsen & Toubro Infotech (LTI) has announced significant updates to its decision intelligence product, Lumin, focusing on enhanced accessibility and composability. The latest version facilitates faster decision-making for enterprises through an iOS mobile app and customizable SDKs and APIs. Lumin will be showcased at the Gartner Data and Analytics Summit 2022, taking place from Aug 22-24 in Orlando, FL, including a live demonstration on Aug 24 at 10:45 am EDT. Lumin is now available on AWS marketplace and offers a 14-day free trial for businesses.
Larsen & Toubro Infotech (LTI) has expanded its collaboration with Microsoft to focus on high-value cloud solutions for enterprises. A dedicated Microsoft business unit will be established, training over 12,000 employees by 2024 in various Microsoft technologies, including cloud and security. This partnership aims to enhance LTI's capabilities, offering over 170 services to clients. LTI will achieve Solution Partner designation and has advanced specializations in areas such as SAP on Azure and Cloud Security. This move positions LTI to better assist global enterprises in their digital transformation journeys.
Larsen & Toubro Infotech (LTI) reported strong Q1 FY23 results with revenue of USD 580.2 million, showing a 1.7% QoQ and 23.4% YoY growth. In Indian Rupees, revenue was INR 45,228 million, reflecting 5.1% QoQ and 30.6% YoY growth. Net income reached INR 6,344 million, a slight 0.5% QoQ decline but a robust 27.7% YoY increase. The company secured 4 Global Fortune 500 clients and achieved US$ 79 million in net new Total Contract Value (TCV) during the quarter.
L&T Technology Services Limited has inaugurated its Engineering Design Centre (EDC) in Toulouse, France, focusing on digital solutions for aerospace and defense. The center aims to hire over 100 engineers in two years and will emphasize sustainable next-gen solutions. This expansion follows LTTS's long-standing collaboration with Airbus, highlighting its role as a key engineering partner. The center is expected to boost the region's economy by creating new digital opportunities in avionics and urban air mobility.
L&T Technology Services Limited (LTTS) has been recognized as a ‘Leader’ in all five quadrants of the 2022 ISG Provider Lens™ Digital Engineering Services report for North America. This acknowledgment highlights LTTS's capabilities in Design and Development, Customer Engagement, and Intelligent Operations. The company is noted for its engineering frameworks and suite of digital service offerings, including Machine Learning and IoT. With over 300 global customers, LTTS aims to enhance digital transformations in various sectors.
Larsen & Toubro Infotech (LTI) has been awarded the GSI Global Delivery Platform Partner of the Year by Snowflake at the Snowflake Summit 2022. This recognition reflects LTI's proficiency in Snowflake implementation and migration services across various industries. LTI's offerings, including the Fosfor data suite and PolarSled 2.0, enhance its migration capabilities. Additionally, LTI has received Partner Network Competency badges for Financial Services and Manufacturing, showcasing its robust customer success in these sectors.
L&T Technology Services Limited has inaugurated its new Engineering, Research and Development (ER&D) center in Krakow, Poland, aiming to support industries like Automotive and Hi-Tech. This state-of-the-art facility will employ over 300 engineers and will focus on both software and hardware development for major clients in Europe and North America. The center will leverage local engineering talent and collaborate with academic institutions, enhancing LTTS's capacity to deliver innovative engineering solutions.
L&T Technology Services Limited has secured a multi-year, over $100 million contract with Jaunt Air Mobility to establish an Engineering R&D Centre in Québec. This collaboration focuses on developing the Jaunt Journey eVTOL air taxi, enhancing its engineering capabilities across various technology areas including power electronics and flight control systems. This project aims to meet rising demand for faster urban travel. Jaunt's aircraft will offer affordable, sustainable transport solutions, enabling travel of over 110 km in less than 25 minutes.
L&T Technology Services Limited has been recognized as Supplier of the Year and received Partner-level supplier status for 2021 by John Deere in its Achieving Excellence Program. This recognition highlights LTTS's commitment to delivering outstanding quality and continuous improvement in its engineering and R&D services for John Deere. The program evaluates suppliers based on key performance metrics, including quality, cost management, and technical support. LTTS serves numerous Fortune 500 clients and has over 20,100 employees globally.
Jaunt Air Mobility announced a partnership with L&T Technology Services Limited as a key engineering partner for developing the Jaunt Journey eVTOL air taxi. This collaboration will enable LTTS to provide end-to-end engineering support, focusing on structural design analysis and aircraft certification. The Jaunt Journey aims to meet the growing demand for urban and regional air travel, utilizing patented Slowed-Rotor Compound technology to travel approximately 70 miles in 25 minutes. Jaunt is committed to sustainable aviation with a zero-carbon footprint.
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