49. L&T Infotech: Back with a Bang

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.