Global technology consulting and digital solutions company Larsen & Toubro Infotech (LTI) announced their Q4 FY18 and FY18 results recently. Announcing their Q4 results, LTI posted a revenue of $309 million, with 5.3 percent quarter-on-quarter growth. Sanjay Jalona, CEO and MD at LTI said in a statement, “Our outstanding growth of 5.3 percent in Q4 is a result of a broad-based performance across all verticals. We have delivered an industry-leading growth of 16.7 percent for the full fiscal year with digital revenues up 42 percent year-on-year. Our sustained investments in exponential technologies are establishing us as the digital partner of choice for our customers worldwide.”
The continued momentum at LTI is due to the two large deals worth over $50 million in Q4. Besides this, LTI also has a clutch of deals under its belt in automation, multiple digital initiatives, analytics engagement, migration to the cloud, orchestrating data, and modeling a variety of analytic use cases. One of the most notable deals bagged by LTI was the $100 million contract to deploy advanced technology in India’s taxation system. Jalona said that the multi-year deal involves high volume digital dealing and creating a semantic web. He added that LTI would operate on a “build, own, operate, transfer” (BOOT) model.
Dinanath Dubhashi, MD and CEO at L&T Finance Holdings Ltd, told a newspaper that the significant improvement in profit was also realised through the ‘retailization’ of the portfolio. The growth in revenue was attributed to strengthening competencies across products, using data analytics as a differentiator.
How L&T Is Powering Growth Through Big Data And Analytics
Deep Talent Bench: The second half of 2017 saw the global consulting major host a massive recruitment drive. L&T beefed up the talent bench in areas like big data, ETL (Informatica and Ab Infinito), data warehousing, database, and customer-centric roles.
Leading Analytics Vendor: L&T’s outstanding growth is also attributed to its position as major a vendor for big data and analytics capabilities. They were also recognised for blockchain consulting and POC developments. Thanks to their global best practices, deep industry expertise and faster turnaround cycles, the IT consulting bellwether won several key Indian government projects.
Global Deals: Some of the major deals won by LTI are:
- Transformation engagement for a leading African bank to transition its core banking system
- Application management and IT operations support services deal for a US-based home appliance manufacturer
- IT infrastructure and security management partner for a US-based industrial manufacturing company
- End-to-end IT infrastructure outsourcing engagement with a European auto major
- Selected as a preferred partner to deliver multiple digital initiatives and empower client’s broader FinTech ecosystem for a global Fortune 100 bank
- End-to-end service engagement with a financial regulator for maintaining the business applications of its IT division
- Migration of workload to Oracle Cloud for European manufacturing company
- Execution of SAP-led transformation engagement for leading European sourcing and services company
- ExxonMobil chose LTI and group company LTTS to digitise geoscience content by leveraging automation
Key Government Projects: In January 2018, LTI won another government project — an end-to-end Power Portfolio Management Solution for Madhya Pradesh Power Management Company Limited (MPPMCL). The project required integrating automated business modules and robust analytical capabilities for faster and accurate decision-making on the sale and purchase of power. LTI’s Power Portfolio Management Solution would optimise functions like HR, finance, procurement, demand forecasting and tender creation.
Building Thought Leadership In Robotics: L&T has also built considerable thought leadership in robotics, and according to the company website, it is already getting traction. With the overall robotics market reaching $67 billion, L&T is betting big. As stated on their blog, LTI collaborated with Purdue Robotics Accelerator and US-based Purdue University to gain insights. This played a key role in setting up the robotics lab at their Bengaluru campus.
As enterprises move towards intelligent automation, onboarding of cognitive solutions, and AI, leading providers will have to build capabilities across these units. Analytics, automation and AI will be key to digital transformation, and soon, service providers will start to build the value chain across these platforms. The service provider landscape will undergo rapid transformation with vendors investing in broader capabilities to stay competitive.