Embedded systems, especially in telecom, emerge as an area of strength
L&T group's senior management has begun to show strong interest and attention in the IT services business
The company once again got on the growth path this year following the previous year's slipshod performance. But the 39% growth in topline came at a price: its net profits fell marginally due to a 10% decrease in its operating margin. With two-thirds of the development done onsite, the impact on profits can be partly explained. In the exports area, while manufacturing remained the strongest area, the company gained strength in the BFSI and telecom segments. A new thrust in the PLM area has also been planned. The company also tied up with PeopleSoft to target the construction and process industries while its relationships with SAP and JD Edwards continue. The company has partnered with Fidelity Information Services, a division of Fidelity National Financial Inc, to offer IT solutions to Indian banks. This is expected to provide a boost to its domestic revenues which had slipped 32% during the year. The company has ambitious plans to grow to be a $500 mn company by 2008.
l Start-up year: 1997 l Products & services: IT services, solutions l Employees: 2491 l Branches: 20 l Address: L&T Gate No. 2, Saki Vihar Road, Powai, Mumbai 400072 l Tel: 256948301 l Fax: 28581984 l Website: www.lntinfotech.com
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The company once again got on the growth path this year following the previous year's slipshod performance. But the 39% growth in topline came at a price: its net profits fell marginally due to a 10% decrease in its operating margin. With two-thirds of the development done onsite, the impact on profits can be partly explained. In the exports area, while manufacturing remained the strongest area, the company gained strength in the BFSI and telecom segments. A new thrust in the PLM area has also been planned. The company also tied up with PeopleSoft to target the construction and process industries while its relationships with SAP and JD Edwards continue. The company has partnered with Fidelity Information Services, a division of Fidelity National Financial Inc, to offer IT solutions to Indian banks. This is expected to provide a boost to its domestic revenues which had slipped 32% during the year. The company has ambitious plans to grow to be a $500 mn company by 2008.