Mckinsey To Compose L & T Info Growth Plan

L&T Infotech, the wholly owned subsidiary of Larsen & Toubro, has appointed McKinsey & Company to design aggressive growth strategies in order to move up the value chain in the next four years.

V K Magapu, chief executive of L&T Infotech, said, "McKinsey's globally relevant insight on information technology businesses will be a timely input in our preparation for aggressive growth in the current flux."

"The appointment of McKinsey conveys our continued dedication to provide better and more focussed support to the clients we serve," said AM Naik, managing director and CEO of L&T.

L&T Infotech offers end-to-end software solutions and consulting services in several domain areas. The company has 21 international offices and eight software development facilities, the company said in a press release.

Meanwhile, the company is planning to go for an initial public offering during the next year. The company has recently been appointed as the Oracle Partner Programme member for Oracle's e-business suite in India which will enable L&T Infotech to provide solutions for service and construction industry based on Oracle e-business suite.

Keeping in mind the slowdown in the US economy, the company has shifted its focus to Europe, Japan, South Africa and the Middle East.

L&T Infotech is also looking at a revenue of over Rs 2,000 crore over the next five years.

The company has posted a net profit of Rs 35 crore and a turnover of Rs 250 crore during the last year.