L&T Technology Services Limited (LTTS), a prominent engineering services company in India, reported a solid 7% year-over-year (YoY) growth in revenue for the first quarter of the 2025 fiscal year (Q1FY25), reaching ₹24,619 million (USD 295 million in constant currency). Net profit for the quarter also saw a modest increase of 1% YoY, totaling ₹314 crore.

Key Financial Highlights

Revenue: ₹24,619 million, up 7% YoY
USD Revenue: $295 million, up 6% YoY (constant currency)
Net Profit: ₹314 crore, up 1% YoY
EBIT Margin: 15.6%

Business Growth and Strategy

LTTS secured several significant deals during the quarter, including two USD 30 million deals, two USD 15 million deals, and three deals with a total contract value (TCV) of USD 10 million. The company’s strategic focus on “Go Deeper to Scale” and its reorganization into three main segments – Mobility, Hi-Tech and Sustainability, and AI – is yielding positive results, with a growing pipeline and increased large deal discussions.

AI and Innovation

LTTS is actively investing in AI and innovation, resulting in 61 patents filed to date. The company is leveraging its AI solutions in areas such as asset health, software development, and digital assistants to win AI-led deals.

Recognition and Awards

LTTS received several recognitions during Q1FY25:

Great Place to Work: Recognized in the United States for the first time and in Poland for the second consecutive time.
Most Innovative Company of the Year 2024-25: Awarded by ET Now.
FICCI Smart Urban Innovation Awards: Won in the ‘City Safety, Emergency Response, and Disaster Management’ category for the Patna Smart City Project.
Leaders in Connected Product Engineering Services: Rated by Everest Group in their PEAK Matrix Assessment 2024 for Embedded Engineering.

Patents and Human Resources

LTTS holds a strong patent portfolio of 1,343 patents, with 853 co-authored with customers. The company’s employee strength at the end of Q1FY25 stood at 23,577.

CEO’s Outlook

Amit Chadha, CEO & Managing Director of LTTS, expressed confidence in the company’s performance for the rest of the year, reaffirming the goal of reaching $1.5 billion in annualized revenues. He highlighted the successful completion of the first phase of reorganization and investments in technology and leadership, which have positioned LTTS for continued growth.