L&T Technology Services reports 9.5% YoY growth in Q3FY25 Highest ever large deal bookings

Mumbai, January 15, 2025: L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a global leader in engineering and technology services, announced its results for the third quarter ended December 31, 2024.

Highlights for Q3FY25 include: 

• Revenue at ₹26,530 million; growth of 3.1% QoQ and 9.5% YoY
• USD Revenue at $312 million; growth of 3.1% QoQ and 8.7% YoY in constant currency
• EBIT margin at 16.2% excluding one-time non-operational M&A expense; up 110 bps QoQ
• Net profit at ₹3,224 million; growth of 0.9% QoQ 
• 8 large deals: one USD 50 million, two USD 35 million, two USD 25 million, and three USD 10 million deals

“We had a strong quarter with 3.1% growth in constant currency led by our Tech and Sustainability segments where the demand outlook has been steadily improving. In Tech, we grew by 11% sequentially driven by ramp ups in Medtech, Hyperscalers and Communication providers where we leveraged our SWC capabilities. Sustainability grew by 4% sequentially helped by plant modernization and automation demand.

Our large deal TCV has seen a healthy increase with eight wins across segments. The large deal pipeline continues to be robust aided by ongoing engagements with customers on both new age product and platform development and business transformation. 

Our strategy of investing upfront in the first half of the current fiscal has started yielding results with growth and margin improvement. With the Intelliswift acquisition now complete, we have formed a new sub-segment called Software & Platforms through which we will strengthen our foothold in Hyperscalers and enter the Service-led sectors namely Retail, Fintech and Healthcare which are new and promising markets for us. This strategic move enhances our AI, digital and software product engineering capabilities, increasing our ability to deliver greater value to clients through a unified offering.

During the quarter, we inaugurated the NVIDIA AI Experience Zone at our Bengaluru design hub, enhancing AI capabilities for clients in Mobility and Tech. With 174 patents filed in AI/Gen AI applications, we reaffirm our commitment to AI led innovation,” said Amit Chadha, CEO & Managing Director, L&T Technology Services Limited.

Highlights and Recognitions:

• Recognized by CII as one of the Top 25 Companies Excelling in Women in STEM, 2024
• Zinnov  has rated LTTS as a “Leader” in Digital Engineering and ER&D Services 2024 for Overall ER&D, Digital Engineering Services, Medical Devices, Industry 4.0 and Industrial
• Honoured as the Government System Integration Partner of the Year FY24 at the Palo Alto Networks India & SAARC Partner Summit FY24
• Awarded the 2025 BIG Innovation Award in Transportation for AnnotAI by the US-based Business Intelligence Group
• Recognised by Financial Express FuTech Awards 2024 for Best AR/VR Breakthrough and Best Use of Predictive/Prescriptive Analytics

Patents

At the end of Q3FY25, the patents portfolio of L&T Technology Services stood at 1,448, out of which 903 are co-authored with its customers and 545 are filed by LTTS.

Human Resources

At the end of Q3FY25, LTTS’ employee strength stood at 23,465.