Larsen & Toubro Infotech

Larsen & Toubro Infotech Limited (LTI) is an Indian multinational information technology services and consulting company based in Mumbai, India. In 2017, NASSCOM ranked LTI as the sixth-largest Indian IT services company in terms of export revenues. It was among the top 15 IT service providers globally in 2017, according to the Everest Group's PEAK Matrix for IT service providers.

Larsen & Toubro Infotech Limited
TypePublic
ISININE214T01019
IndustryInformation technology
Consulting
Outsourcing[1]
Founded23 December 1996 (23 December 1996)
Headquarters
L&T House, Ballard Estate, Mumbai
,
India
Area served
Worldwide
Key people
A. M. Naik (Chairman)
S. N. Subrahmanyan​ (Vice-chairman)
Sanjay Jalona (CEO & MD)
Revenue₹12,644 crore (US$1.7 billion) (2021)[2]
₹2,667 crore (US$350 million) (2021)[2]
₹1,938 crore (US$250 million) (2021)[2]
Total assets₹8,824 crore (US$1.2 billion) (2020)[2]
Total equity₹5,280 crore (US$690 million) (2020)[2]
Number of employees
35,991 (2021)[2]
ParentLarsen & Toubro
Websitewww.lntinfotech.com

It employs standards of the Software Engineering Institute's (SEI) Capability Maturity Model Integration (CMMI) and is a Maturity Level 5 assessed organization.[3]

History

Founded as L&T Information Technology Ltd in December 1996, LTI is a wholly owned subsidiary of Larsen & Toubro (L&T).[4] During 2001–2002 the company's name was changed from L&T Information Technology Limited to Larsen & Toubro Infotech Limited and in the same year the company achieved the assessed level of SEI Level 5.[5] L&T Infotech dropped the word 'Infotech' from its name to reflect the changed business environment and rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.[6] In April 2022, speculation arose that LTI and Mindtree will be merged.[7]

Global presence
LTI, Chennai
LTI, Chennai

LTI has its presence across the following regions:[8]

Mumbai – (Powai, Airoli, Mahape)
Pune – (Shivajinagar, Hinjawadi)
Bangalore/Bengaluru – (Whitefield)
Chennai – (Manapakkam)
Hyderabad – (Kokapet)
Kochi – (Infopark)

Subsidiaries
Name Location
L&T Information Financial Services Technology Inc Canada
Larsen & Toubro Infotech GmbH Germany
Larsen & Toubro Infotech Canada Ltd Canada
L&T Information Technology Services (Shanghai) Co Ltd China
L&T Infotech S. de. R. L. de. C. V. Mexico
Larsen & Toubro Infotech South Africa (Pty) Ltd. South Africa
L&T Information Technology Spain SL Spain
Larsen & Toubro Infotech LLC United States
Syncordis S.A. Luxembourg
Syncordis S.A.R.L. France
Syncordis Support Services S.A. Luxembourg
Syncordis Software Services India Pvt Ltd India
Syncordis Ltd UK

Acquisitions
Company acquired Country Date Business Reference
Cuelogic Technologies India July 2021 Digital Engineering [10]
Powerupcloud Technologies India October 2019 Cloud Managed Services, Al and Data Analytics [11]
Lymbyc India July 2019 AI, Machine Learning [12]
NIELSEN+PARTNER of Hamburg (Germany) Germany February 2019 Digital Solutions [13]
Ruletronics India January 2019 Business Process Management [14]
Syncordis S.A. Luxembourg November 2017 Core Banking Platform [15]
AugmentIQ Data Sciences Pvt. Ltd India October 2016 Big Data, Data Analytics [16]
Information Systems Resource Centre Pvt. Ltd. (ISRC) India October 2014 Information Systems Resource Centre (ISRC) [17]
L&T Infotech Financial Services Technologies Inc. (Formerly part of Citigroup Fund Services Canada Inc) Canada January 2013 IT Outsourcing Business [18]

FOSFOR by LTI

FOSFOR by LTI (formerly LTI Mosaic) is the data-to-decisions platform that offers data engineering, advanced analytics, knowledge-led automation, IoT connectivity using exponential technology. In 2019 with the acquisition of Lymbyc, LTI added Leni, a virtual intelligent analyst to its Mosaic portfolio. Leni[19] lets users conversationally access information and insights at a large scale. Leni claims to be the world’s first virtual analyst.[20]

Awards and recognition
  • In January 2019, LTI and ACORD announced collaboration to drive digital adoption in the insurance industry[21]
  • In November 2018, Inclusive Tech Alliance recognized LTI President Sales Sudhir Chaturvedi among the top 100 most influential leaders in UK Tech Sector[22][23]
  • In January 2018, LTI CEO and MD Sanjay Jalona chosen as Exemplary CEO of the Year by BW Business World[24]
  • In March 2017, LTI Ranked Amongst 'Super 50' in Dalal Street Investment Journal (DSIJ) 150 Wealth-Creators List.
  • In March 2017, LTI Named a Top 15 Sourcing Service Provider by Information Services Group (ISG).
  • In March 2016, LTI positioned among Everest Group's Top 20 IT Services Providers.
  • In February 2016, L&T Group Executive Chairman A.M. Naik was awarded an honorary Doctorate of Letters Degree from the Veer Narmad South Gujarat University. The doctorate is in recognition of Mr. Naik's long and distinctive contribution to the nation to society.
  • In December 2015, LTI Named as one of the 'Star Performers' and 'Major Contenders' in Everest Group's PEAK MatrixTM Assessment 2015 for Global Insurance Service Provider
  • In 2014, LTI ranked number 6[25] in India IT companies in 2013–2014,2014–2015 and 2015–2016 by NASSCOM rating.

Controversy

In 2016, LTI management revoked offer letter of few recruits after waiting for a period of 18 months.[26][27][28][29] This caused some disruption in Chennai's IT Corridor and there was protest against the company's management in front of its Chennai office.

See also

References
  1. "Larsen & Toubro Infotech Limited: Private Company Information – BusinessWeek". Investing.businessweek.com. Retrieved 11 July 2012.{{cite web}}: CS1 maint: url-status (link)
  2. "Larsen & Tourbo Infotech Ltd. Financial Statements". moneycontrol.com.
  3. "expresscomputeronline". 1 April 2002. Archived from the original on 4 September 2004. Retrieved 25 November 2012.
  4. "Sanjay Jalona CEO & MD of LTI". lntinfotech.com. L&T Infotech. Retrieved 8 February 2016.
  5. "Larsen & Toubro Infotech Ltd". Retrieved 16 April 2019 – via Business Standard.
  6. "L&T Infotech rebrands itself as LTI in keeping with new business reality". Moneycontrol. Retrieved 16 April 2019.
  7. "What potential LTI & Mindtree merger could mean for the respective IT stocks". mint. 21 April 2022. Retrieved 30 April 2022.
  8. "LTI Locations". LTI. Archived from the original on 3 January 2013. Retrieved 6 April 2015.
  9. "Global Footprint | LTI". www.lntinfotech.com. Retrieved 11 February 2016.
  10. "LTI concludes acquisition of Pune-Based Cuelogic". News | Larsen & Toubro Infotech. Retrieved 8 July 2021.
  11. "Larsen & Toubro Infotech to acquire PowerupCloud". News | Larsen & Toubro Infotech. Retrieved 17 October 2019.
  12. "LTI to acquire advanced analytics firm Lymbyc". News | Larsen & Toubro Infotech. Retrieved 17 July 2019.
  13. "LTI to acquire Germany's Nielsen+Partner in a $31.6M deal". News | Larsen & Toubro Infotech. Retrieved 14 February 2019.
  14. "Larsen & Toubro Infotech acquires Ruletronics for $7.48 million". News | Larsen & Toubro Infotech. Retrieved 17 January 2019.
  15. "Larsen & Toubro Infotech to acquire Syncordis SA". News | Larsen & Toubro Infotech. Retrieved 14 November 2017.
  16. "L&T Infotech to acquire analytics start-up AugmentIQ". News | Larsen & Toubro Infotech. Retrieved 25 October 2016.
  17. "L&T Infotech buys Otis Elevator's Information Systems Resource Centre". News | Larsen & Toubro Infotech. Retrieved 28 October 2014.
  18. "L&T Infotech acquires Citigroup's Canadian IT unit". News | Larsen & Toubro Infotech. Retrieved 25 January 2013.
  19. "LTI's newly acquired virtual analyst "Leni" could power your analytics adoption". HFS Research. 15 August 2019. Retrieved 13 May 2020.
  20. "Understanding Leni, the world's first virtual analyst". Express Computer. 1 November 2018. Retrieved 13 May 2020.
  21. "LTI and ACORD to collaborate to drive digital adoption in insurance industry". ETtech.com. Retrieved 16 April 2019.
  22. "Top 10: The most influential BAME tech leaders in the UK". Financial Times. 14 November 2018. Retrieved 16 April 2019.
  23. "Inclusive Tech Alliance recognizes LTI President Sales, Sudhir Chaturvedi among the top 100 most influential leaders in UK Tech Sector". LTI. Retrieved 16 April 2019.
  24. "LTI CEO & MD Sanjay Jalona chosen as Exemplary CEO of the Year by BW Businessworld". LTI. Retrieved 16 April 2019.
  25. "Nasscom Industry Ranking". NASSCOMM. Archived from the original on 11 May 2012. Retrieved 9 July 2012.
  26. "Business Line".
  27. "Business standard". 31 May 2016.
  28. "After Flipkart, L&T Infotech withdraws job offers". 30 May 2016.
  29. "Financial Express".
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