L&T Technology Services has secured a five-year engagement valued at more than $75 million, or about Rs 718 crore.
The deal covers product engineering, software development, testing, validation and digital engineering services.
Highlights
- LTTS has secured a five-year contract worth over $75 million.
- The deal is valued at approximately Rs 718 crore.
- The name of the global technology client has not been disclosed.
- LTTS will deploy its Engineering Intelligence capabilities across the client’s product lifecycle.
- A dedicated engineering centre for technology and digital functions will also be created.
- LTTS shares were trading 1.39% higher at Rs 3,548.95 on the BSE in early trade.
New Delhi, August 19: L&T Technology Services (LTTS) on Wednesday announced that it has secured a five-year engagement valued at more than $75 million, equivalent to around Rs 718 crore, from a leading global technology enterprise.
The engineering and research and development services company did not reveal the identity of the customer due to confidentiality requirements under its agreement with the client.
As part of the five-year agreement, LTTS will deploy its Engineering Intelligence (EI) capabilities across the customer’s end-to-end product development and engineering lifecycle.
The engagement is aimed at accelerating the development of next-generation solutions for the customer’s global portfolio, the company said in a regulatory filing.
LTTS to Set Up Dedicated Engineering Centre
Under the agreement, LTTS will also enable the creation of a dedicated engineering centre focused on technology and digital functions.
The company will use its full stack of Engineering Intelligence solutions to support the centre and the client’s wider technology requirements.
The scope of the contract covers several engineering and technology functions, including product engineering, software development, testing, validation and sustenance engineering.
LTTS will also provide platform operations and related digital engineering services as part of the engagement.
What Does LTTS Do?
L&T Technology Services is a listed subsidiary of engineering conglomerate Larsen & Toubro. The company specialises in engineering and research and development (ER&D) services.
Its services include design, development, testing and sustenance across a range of products and processes for customers operating in different industries.
The latest contract strengthens LTTS’ order portfolio and highlights growing demand for engineering services that combine traditional product development capabilities with artificial intelligence and digital technologies.
Investors reacted positively to the announcement. Shares of L&T Technology Services were trading 1.39 per cent higher at Rs 3,548.95 apiece on the BSE during early trade on Wednesday.
