L&T Technology Services Limited, a pure-play engineering services company, has announced its results for the third quarter ended December 31, 2020.
“We had a strong performance with sequential improvement in both revenue and operating margin. All five of our industry segments grew sequentially, with three segments recording growth of 5% plus. Deal wins were especially strong in the quarter helped by a marquee USD100M plus engagement with an O&G major – a validation of our best-in-class domain expertise and deep customer relationships,” said Dr. Keshab Panda, CEO & Managing Director, L&T Technology Services Limited.
“The deal pipeline is healthy across segments as customers prioritize business transformation to improve efficiency and productivity. We are leveraging newer technologies like Digital Thread, IoT and AI to further our positioning as innovation partners to our customers. I would like to highlight that the strong uptick in Industrial Products has been led by deals involving digital led transformational programs,” he added.
L&T Technology Services Limited, a listed subsidiary of Larsen & Toubro Limited, is focused on Engineering and R&D (ER&D) services. It offers consultancy, design, development and testing services across the product and process development life cycle.
Its’ customer base includes 69 Fortune 500 companies and 53 ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 16,000 employees spread across 17 global design centers, 28 global sales offices and 62 innovation labs as of December 31, 2020.
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