LTTS targets USD 1.5 billion revenue run rate by FY25

Pure-play engineering services company L&T Technology Services (LTTS), which clocked $1 billion annualised revenue run rate in Q2 FY23, is now targeting $1.5 billion by FY25
L&T Technology Services CEO and MD Amit Chadha.
L&T Technology Services CEO and MD Amit Chadha.

BENGALURU: Pure-play engineering services company L&T Technology Services (LTTS), which clocked a USD 1 billion annualised revenue run rate in Q2 FY23, is now targeting USD 1.5 billion by FY25.

“I am reconfirming that USD 1.5 billion in FY25 as a quarterly run rate is confirmed, and we will work towards that,” Amit Chadha, CEO & Managing Director, L&T Technology Services, told this newspaper.

The company has posted a 23 per cent YoY growth in Q2 net profit to Rs 282 crore, and has won a USD 60 million plus deal and a deal with TCV (total contract value) of USD 10 million during the quarter.

Talking about the demand environment, Chadha said that they are seeing three kinds of demand patterns emerging in the world in the last few months.

“EV energy sources are being changed, and second is absenteeism in the workforce is there, and therefore, factories are getting more automated, and finally, we are definitely seeing localised supply chains being built,” he said.

He added that these three things are giving them the confidence that the company’s three bets-Electric Autonomous Connected Vehicles (EACV), sustainability and digital manufacturing- will continue to deliver.

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The New Indian Express
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