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L&T Technology Services Ltd.

BSE: 540115 Sector: IT
NSE: LTTS ISIN Code: INE010V01017
BSE 00:00 | 22 Feb 1490.90 1.55
(0.10%)
OPEN

1496.05

HIGH

1504.00

LOW

1486.00

NSE 00:00 | 22 Feb 1493.25 6.50
(0.44%)
OPEN

1495.00

HIGH

1506.95

LOW

1486.20

OPEN 1496.05
PREVIOUS CLOSE 1489.35
VOLUME 20807
52-Week high 1852.50
52-Week low 1150.00
P/E 23.38
Mkt Cap.(Rs cr) 15,505
Buy Price 1485.00
Buy Qty 2.00
Sell Price 1490.90
Sell Qty 10.00
OPEN 1496.05
CLOSE 1489.35
VOLUME 20807
52-Week high 1852.50
52-Week low 1150.00
P/E 23.38
Mkt Cap.(Rs cr) 15,505
Buy Price 1485.00
Buy Qty 2.00
Sell Price 1490.90
Sell Qty 10.00

L&T Technology Services Ltd. (LTTS) - Company History

L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. The company offers consultancy design development and testing services across the product and process development life cycle. Its customer base includes 52 Fortune 500 companies and 51 of the world's top ER&D companies across industrial products medical devices transportation telecom & hi-tech and the process industries. Headquartered in India LTTS has over 13000 employees spread across 16 global design centers 27 global sales offices and 42 innovation labs as of 30 June 2018.L&T Technology Services Limited was incorporated as L&T Technology and Engineering Services Company Limited on June 14 2012 at Mumbai as a public limited company. The Company received the certificate of commencement of business on June 20 2012. Subsequently the name of the company was changed to L&T Technology Services Limited pursuant to a special resolution passed by Shareholders at the EGM held on July 19 2012. As the engineering services business of the Company is sub-set of technology services the name of the Company was changed to L&T Technology Services Limited to more appropriately describe its business in line with the company's main objects. In 2014 L&T Technology Services acquired the product engineering services (PES) business (except the unit in Germany) from Larsen & Toubro Infotech Limited.In 2015 L&T Technology Services acquired the unit of PES business in Germany from L&T Infotech GmbH. During the year the company acquired the integrated engineering services (IES) business from L&T. Also during the year the company acquired 74% stake in Thales Software India Private Limited (TSIPL). The company also acquired the engineering services division of Dell India during the year. It also acquired the engineering services division of Dell USA through its wholly owned subsidiary LTTS LLC. In September 2016 L&T Technology Services was listed on the bourses after promoter L&T sold 1.04 crore shares of the company through an initial public offer during the period from 12 to 15 September 2016 via book building. On 6 October 2016 L&T Technology Services announced a Digital Engineering Transformation partnership with Microsoft Corporation to deliver Microsoft Azure Engineering Solutions for global enterprises across industries. This strategic partnership between the two companies enables enterprises around the world to leverage L&T Technology's cutting-edge IP-led Digital Engineering solutions hosted on Microsoft's Azure enterprise cloud-first mobile-first infrastructure.On 19 October 2016 L&T Technology Services announced that it has secured a new multi-year multi-million dollar contract from a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products. This strategic tie-up between the two companies will enable the customer to strengthen its product offering and capitalize on market opportunities with superior quality products.On 23 March 2017 L&T Technology Services inaugurated its new center of excellence dedicated for a leading German Original Equipment Manufacturer (OEM) in Munich Germany its fourth delivery center for the customer following R&D hubs in Mumbai Bangalore and Mysore in India.On 24 April 2017 L&T Technology Services Limited (LTTS) announced the development of Smart City & Campus solutions that will be used to develop a smart office campus in Israel for a leading technology company - a result of its expanded partnership with Microsoft. The multi-year project was awarded shortly after LTTS and Microsoft expanded their existing partnership for Smart City Campus & Building (SCCB) solutions based on Microsoft Azure.On 1 June 2017 L&T Technology Services (LTTS) announced the completion of the acquisition of Esencia Technologies a provider of design services from specification to final product in Digital Signal Processing for Communications Video Security and Networking. San Jose- based Esencia will become a subsidiary of LTTS. On 3 May 2017 LTTS had signed a definitive agreement to acquire Esencia to deepen its offerings to global customers in the realm of Wireless Connectivity Solutions Perceptual Computing Internet of Things and Advanced Silicon Products. Esencia's existing team of over 100 Embedded ASIC design and semiconductor experts in Silicon Valley will become part of the LTTS family. The Esencia acquisition brings huge cross leverage potential adding synergistic business to LTTS enabling the company to offer high end VLSI and ASIC services to its global customers across hi-tech and semiconductor industries.On 21September 2017 L&T Technology Services (LTTS) announced its collaboration with Wind River an Intel company and world leader in delivering software for the Internet of Things (IoT). The two companies will work together to investigate validate and optimize LTTS technologies with Wind River software platforms to discover compelling joint value propositions for shared customers in areas such as IoT cloud computing and network functions virtualization (NFV) in markets ranging from aerospace and defense and automotive to industrial medical and networking.On 25 September 2017 L&T Technology Services Limited announced the formal establishment of an engineering solutions delivery center in Chennai India that is focused on supporting a key customer. The center strengthens collaboration with Vestas the world leader in the development manufacturing sale and maintenance of wind power plants. L&T Technology Services has been associated with Vestas for over a decade as a strategic engineering partner.On 14 November 2017 L&T Technology Services Limited announced the establishment of its Center of Excellence (CoE) in Jerusalem Israel thereby marking another key milestone in the firm's global presence. The CoE will be dedicated to developing and delivering end to end ASIC solutions hardware and software based security solutions as well as next generation video solutions for global customers in the following market segments- Media Entertainment Telecom Automotive and IIoT. In addition to the CoE in Jerusalem LTTS has launched a sales office in Tel-Aviv that will be expanding the company's business in Israel and offer the full scope of engineering services in the areas of Telecom Semiconductors Medical Devices Automotive IoT and Plant Engineering.On 18 January 2018 L&T Technology Services Limited announced that it has won a landmark project worth $50 million spanning over five years from a leading aerospace electronic systems manufacturer. The transformational deal significantly extends the engagement between the companies.On 22 March 2018 L&T Technology Services Limited announced that Germany's Covestro a world-leading manufacturer of high-tech polymer materials has selected the company as one of its major engineering services partners to implement digitalization based Engineering Programs across Covestro's global locations. L&T Technology Services has been awarded a multi-million dollar contract by Covestro to execute these engineering transformational programs.On 9 April 2018 L&T Technology Services Limited (LTTS) announced that it has won a contract worth more than $20 million in the first year from ExxonMobil Exploration Company. LTTS will work in collaboration with group company Larsen & Toubro Infotech (LTI) on this engagement.