Formerly | L&T Integrated Engineering Services |
---|---|
Company type | Public |
NSE:
LTTS BSE: 540115 | |
ISIN | INE010V01017 |
Founded | 14 June 2012 |
Headquarters | , India |
Area served | Worldwide |
Key people | Amit Chadha (CEO & MD) Keshab Panda (Non-Ex Director) Rajeev Gupta ( CFO) [1] [2] |
Services |
Engineering design Research and development Product lifecycle management |
Revenue | ₹9,647 crore (US$1.2 billion) (FY24) [3] |
₹1,803 crore (US$230 million) (FY24) [3] | |
₹1,303 crore (US$160 million) (FY24) [3] | |
Total assets | ₹8,488 crore (US$1.1 billion) (FY24) [3] |
Total equity | ₹5,347 crore (US$670 million) (FY24) [3] |
Number of employees | 23,812 (March 2024) [4] |
Parent | Larsen & Toubro |
Website |
www |
L&T Technology Services (LTTS) is an Indian multinational technology company that provides engineering research and development (ER&D) services, headquartered in Vadodara. The company's business interests include automotive engineering, embedded system and semiconductor engineering, industrial internet of things, manufacturing plant engineering, and medical engineering. [5]
LTTS is a subsidiary of the conglomerate Larsen & Toubro (L&T), and listed on both NSE and BSE. [6] [7] The company has offices across India, United States, Europe, and Asia. [8] [9]
L&T Technology Services (LTTS) was founded in 2006 as L&T Integrated Engineering Services. In its first year, the company generated $70 million in revenue. Initially, it only operated as the engineering arm of Larsen & Toubro [6] and in 2013, as a result of L&T's strategy, the parent company was split into "nine verticals and six subsidiaries", of which this was one. [10] [11] It began to expand its engineering services as a developer of corporate software under a new brand name L&T Technology Services (LTTS). [6]
In September 2016, LTTS had its initial public offering in the National Stock Exchange, making it the second L&T subsidiary to go public. [12] [13] A. M. Naik, the current group chairman of the parent company, remained chairman of the subsidiary until his retirement in October 2017. [11] [9] Keshab Panda was named as the CEO and managing director [6] and S.N.Subrahmanyan as vice chairman of the company. [14] [15]
In 2016, LTTS developed a set of personal safety gear that is based on cloud-enabled technologies. The system includes a set of "helmets, gloves, jackets and shoes that have sensors capturing [the wearers] performance, and sending it to a centralized database on the cloud." [16]
In March 2017, it opened a center of excellence in Munich, Germany. [17] In June 2017, LTTS completed the acquisition of the Esencia, a San Jose, California-based engineering firm involved in development of " wireless connectivity solutions, perceptual computing, Internet of Things and advanced silicon products" for $27 million. [8] [18] In July, the company was upgraded to Group A of the Bombay Stock Exchange. [19]
In May 2022, the company opened an engineering, research and development (ER&D) centre in Krakow, Poland. [20] In June 2022, LTTS set up an engineering design centre in Toulouse, France. [21]
In January 2023, LTTS announced that it would acquire parent L&T's "Smart World & Communication" business segment, which has interests in communication networks, cybersecurity and smart spaces, for ₹800 crore. [22]