49. L&T Infotech: Back with a Bang

DQI Bureau
New Update

After a lackluster year in 1999-00, when it grew by a meager 2%, the

Mumbai-based L&T Infotech significantly went up the growth curve. It closed the year 2000-01 with a healthy growth of 45%. From Rs 165 crore last year, it earned Rs 239 crore this year. In the process, it also more than doubled its profits, earning Rs 34 crore from the Rs 15 crore it earned last year. Most of its

revenues 92% came from exports, more than 60% of which was attributed to clients in the manufacturing segment. The US was the most favored destination, contributing 70% to the export revenues.

L&T Infotech had an onsite-offshore ratio of 74:26. Its present chief executive officer, VK

Magapu, replaced Achyut Godbole who subsequently moved on to head Concio Technologies. The company tied up with Sun Microsystems to offer scalable e-business solutions to its customers. It also became a systems integration partner of the US-based

WebMethods, a provider of integration software solutions for B2B exchanges and software application vendors.

  • Exports accounted for 92% of the revenues
  • Profits doubled, while the growth rate shot up 22%
  • Profits more than doubled to Rs 34 crore
  • US remained most favoured destination, contributing 70% of the overall revenues
  • On-site:offshore ratio of 74:26 
CEO: VK Magapu START-UP YEAR: 1997

PRODUCTS & SERVICES: Software development, solutions for manufacturing, banking and finance

ADDRESS: L&T House, Ballard Estate, Mumbai 400001 TEL: 2618181

FAX: 2620223, 2693831 WEBSITE: