L&T Technology Services Limited (LTTS) is an Indian multinational company specialising in engineering research and development (ER&D) services. LTTS offers a wide range of services across various industries, including automotive, aerospace, industrial products, and medical devices. As a subsidiary of Larsen & Toubro, LTTS has established a global presence with offices in over 25 countries.
With a focus on cutting-edge product engineering, digitalisation, and smart manufacturing, LTTS has positioned itself as a top contributor to the global tech ecosystem. The company has evolved from being a small division within Larsen & Toubro into a standalone public entity, demonstrating remarkable growth and expansion across multiple industry verticals.
The market cap of L&T Technology Services Ltd (LTTS) is ₹46143.38 Cr as of 1st July 2025. As of February 19, 2025, it ranks 8th among the top Nifty IT companies by market capitalisation. The company's strong market position reflects its leadership in the engineering services sector and its ability to deliver consistent value to stakeholders.
The company's financial performance has shown resilience despite market challenges. Revenue at ₹29,824 million; growth of 17.5% YoY and 12.4% QoQ. USD Revenue at $345.1 million; growth of 13.1% YoY and 10.7% QoQ for Q4 FY25, demonstrating strong operational execution.
- For the January-March quarter of FY25, L&T Technology Services posted a net profit of ₹311 crore. This represents a 9% fall compared to the ₹341 crore reported in the same period last year.
- Revenue from operations demonstrated positive growth, reaching ₹2,982.4 crore in the reporting quarter. This marks a 17.5% increase year-on-year.
- The P/E (price-to-earnings) ratio of L&T Technology Services Ltd (LTTS) is 36.43.
- The P/B (price-to-book) ratio is 7.57.
LTTS operates across three primary business segments that drive its growth strategy. Purposeful. Agile. Innovation. is how we drive growth across the Mobility, Sustainability and Tech segments.
The Mobility segment focuses on automotive and transportation solutions, including electric vehicle technologies, autonomous driving systems, and connected vehicle platforms. LTTS continued its momentum into 2024, with a major announcement in August that its semiconductor unit would secure contracts worth $150 million annually with six automobile companies by September.
This segment addresses environmental and energy-related challenges, providing solutions for renewable energy, smart grid technologies, and sustainable manufacturing processes. In Q4, we had a strong sequential growth of 10.7%, which was led by Tech and Sustainability segments in a quarter of tightening market conditions.
Tech (35% in 9M FY25 vs 33% in FY22): The company provides services like software development, hardware design, product maintenance, testing, value analysis, manufacturing engineering, regulatory compliance, etc for MedTech, Semiconductors, Consumer Electronics, Hyperscalers, and Next-Gen Communication sectors.
Headquartered in India, we have over 24,250 employees across 23 global design centers, 30 global sales offices, and 108 innovation labs, as of March 31, 2025. This extensive global footprint enables LTTS to serve clients across different time zones and leverage local expertise while maintaining centralized quality standards.
The company's strategic expansion includes recent developments such as LTTS opens Plano, Texas design center creating 350+ AI, cybersecurity, manufacturing jobs and LTTS partners with thyssenkrupp to open Pune software hub for advanced automotive steering solutions.
Our customer base includes 69 Fortune 500 companies and 57 top ER&D companies across industrial products, medical devices, transportation, telecom & hi-tech, and process industries. This diverse client portfolio provides LTTS with stability and growth opportunities across multiple industry sectors.
LTTS has 296 global clients in 25+ countries. The company's ability to maintain and expand its client relationships demonstrates its commitment to delivering value-added services and maintaining long-term partnerships.
At the end of Q4FY25, the patents portfolio of L&T Technology Services stood at 1,502, out of which 929 are co-authored with its customers and the rest are filed by LTTS. This substantial patent portfolio reflects the company's focus on innovation and its collaborative approach with clients in developing cutting-edge solutions.
The company has demonstrated strong deal momentum with the highest-ever TCV bookings, including one USD 80+ Mn deal, one USD 50+ Mn deal, along with a USD 30+ Mn, USD 20+ Mn, and three USD 10+ Mn deals. This indicates robust demand for LTTS services and strong client confidence in the company's capabilities.
LTTS remains optimistic about FY26, citing a strong deal pipeline and rising demand for AI and automation-led solutions. The company reaffirmed its medium-term revenue target of USD 2 billion.
Amit Chadha has been the CEO and Managing Director of LTTS since April 1, 2021. Under his leadership, the company has continued to strengthen its market position and expand its service portfolio to address emerging technology trends.
LTTS represents a compelling investment opportunity in the engineering services sector, combining strong fundamentals with strategic positioning in high-growth technology areas. The company's diversified client base, robust innovation pipeline, and global presence position it well for continued growth in the evolving technology landscape.
