L&T Tech­nol­ogy Ser­vices

The key achieve­ments in­cluded ac­quir­ing the US-based Esen­cia Tech­nolo­gies, which has helped in­crease its foot­print in the high-end VLSI and ASIC de­signs

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L&T Tech­nol­ogy Ser­vices had a good 2018, reg­is­ter­ing rev­enue at USD 740 Mn for the year; a growth of 15.4% YoY. In US dol­lar terms, the US Dol­lar rev­enue was at $580.4 mil­lion for 2018, with rev­enue growth of 19.8% YoY, and growth in con­stant currency at 18.2% YoY. LTTS’s strat­egy of fo­cus­ing on top 30 ac­counts, win­ning large deals and co-in­no­vat­ing with cus­tomers, has worked well. Dur­ing FY18, the key achieve­ments in­cluded ac­quir­ing the US-based Esen­cia Tech­nolo­gies, which has helped in­crease the foot­print in the high-end VLSI and ASIC de­signs, open­ing a Cen­tre of Ex­cel­lence for video and se­cu­rity in Is­rael - a hub for in­no­va­tion, and win­ning multiple large deals with mar­quee clients across ver­ti­cals and tech­nolo­gies.

LTTS won sev­eral multi-mil­lion dol­lar projects from global cus­tomers across all the ver­ti­cals. A few key deals were: • LTTS won a dig­i­tal­iza­tion con­tract val­ued at more than $20 mil­lion in the first year, from ExxonMo­bil Ex­plo­ration Cp., an Amer­i­can multi­na­tional oil and gas cor­po­ra­tion. • Ger­many’s Cove­stro, a world-lead­ing man­u­fac­turer of high-tech poly­mer ma­te­ri­als, chose LTTS as one of its ma­jor engi­neer­ing ser­vices part­ners. LTTS won a multi-mil­lion dol­lar con­tract to im­ple­ment dig­i­tal­iza­tion based Engi­neer­ing Pro­grams across Cove­stro’s global lo­ca­tions. • LTTS en­tered into a multi-year part­ner­ship with a lead­ing net­work­ing OEM for a com­plex 5G prod­uct de­vel­op­ment and test­ing pro­gram. LTTS will also pro­vide engi­neer­ing ser­vices and sup­port to the man­u­fac­turer for prod­uct com­mer­cial­iza­tion ac­tiv­i­ties in the North Amer­i­can re­gion. • For a Ja­panese man­u­fac­turer, LTTS has en­tered into a multi-year deal for end-to-end de­sign & de­vel­op­ment of its prod­uct line across two de­sign cen­ters in India. LTTS will roll out prod­uct vari­ants on an on­go­ing ba­sis from the cen­tres. • For a Euro­pean Off High­way ma­jor, LTTS set up a de­sign cen­tre to build com­po­nents for the cus­tomer’s agri­cul­tural, as well as con­struc­tion equip­ment di­vi­sions. India, as a re­gion, ac­counted for 10.8% of rev­enue in 2018, a growth of 64.6%. North Amer­ica ac­counted for 60.2% of rev­enue, Europe 17.3%, and RoW 11.7%.

LTTS or­ga­nized the se­cond edi­tion of its unique in­dus­try-academia ini­tia­tive TECHgium. The event drew tremen­dous re­sponse from stu­dents across ma­jor In­dian ed­u­ca­tional es­tab­lish­ments. With the ob­jec­tive to nur­ture fu­ture in­no­va­tors, LTTS in­vested over 100 work­ing hours to men­tor stu­dents short­listed for the PoC round, with sub­ject mat­ter ex­perts from re­spec­tive in­dus­try do­mains, men­tor­ing the stu­dents.

LTTS also launched a de­sign cen­ter in Gu­ru­gram, Haryana, the first for the com­pany in north­ern India.

—DR KESHAB PANDA CEO & MD

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