L&T Technology Services Ltd (LTTS) is not just another IT company—it’s a leader in engineering research & development (ER&D). With a focus on cutting-edge product engineering, digitalisation, and smart manufacturing, LTTS has positioned itself as a top contributor to the global tech ecosystem. As of February 19, 2025, it ranks 8th among the top Nifty IT companies by market capitalisation.
But how was this company founded? Not many know its origins.
Today, let’s explore the L&T Technology Services history!
L&T Technology Services History (LTTS)
L&T Technology Services (LTTS) started as a subsidiary of Larsen & Toubro, one of India’s top engineering giants. With expertise in aerospace, automotive, telecom, and more, LTTS helps global companies innovate.
Once a small division within Larsen & Toubro (L&T), an Indian engineering giant, L&T Technology Services (LTTS) now operates across 25+ countries with an annual revenue surpassing $1.2 billion.
Let’s walk through the history of L&T Technology Services Limited, tracing its journey back to 2012, when it all began.
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The Beginnings
L&T Technology Services Limited started its journey as L&T Integrated Engineering Services. In its first year, the company generated $70 million in revenue. Initially, it operated as the engineering arm of Larsen & Toubro (L&T), providing specialised services in engineering and technology.
2013 – A New Identity
L&T decided to restructure its business into nine verticals and six subsidiaries. As part of this move, L&T Integrated Engineering Services transformed into L&T Technology Services (LTTS).
2016 – Going Public & New Innovations
A major milestone came in the history of L&T Technology Services Limited in September 2016, when LTTS launched its Initial Public Offering (IPO) on the National Stock Exchange (NSE), becoming the second L&T subsidiary to go public.
That same year, LTTS introduced a cloud-enabled personal safety gear system, including smart helmets, gloves, jackets, and shoes equipped with sensors to track worker safety.
2017 – Expanding Globally
LTTS set its sights on global expansion. In March 2017, it opened a Center of Excellence in Munich, Germany.
Soon after, it acquired Esencia, a California-based engineering firm specialising in wireless connectivity, IoT, and silicon products, for $27 million.
By July 2017, the company was upgraded to Group A on the Bombay Stock Exchange (BSE), cementing its position as a market leader.
2022 – Strengthening Its Presence in Europe
In May 2022, LTTS opened an Engineering, Research, and Development (ER&D) Centre in Krakow, Poland. The following month, it expanded further by setting up an Engineering Design Centre in Toulouse, France, enhancing its global footprint.
2023 – and beyond
LTTS acquired its parent company, L&T’s Smart World & Communication business, for ₹800 crore. This acquisition added cybersecurity, smart spaces, and communication networks to LTTS’s growing portfolio.
In early 2023, LTTS was honoured as the “Supplier of the Year 2023-24” by Collins Aerospace for its outstanding engineering and design services.
By April, the L&T Technology Services revenue had 5% quarterly revenue growth, with an annual net profit surpassing ₹1,300 crore.
In May, LTTS brought together over 36,000 students from 503 institutes for TECHgium®, India’s largest engineering hackathon, encouraging young minds to push the boundaries of innovation.
A few months later, in July, LTTS launched the third annual Digital Engineering Awards with ISG and CNBC TV18, recognising excellence in global engineering.
In September 2023, LTTS was named a Leader in the Connected Product Engineering Services PEAK Matrix® Assessment by Everest Group, solidifying its position in embedded engineering.
LTTS continued its momentum into 2024, with a major announcement in August that its semiconductor unit would secure contracts worth $150 million annually with six automobile companies by September.
By October, the L&T Technology Services revenue reached 8% year-on-year revenue growth for Q2FY25, reaching ₹25,729 million.
From industry recognition to financial growth and innovation, LTTS has consistently pushed the boundaries of technology, proving itself as a leader in the global engineering space.
Inside L&T Technology Services: Overview, Products, Revenue, and Market Cap
L&T Technology Services Limited (LTTS) is an Indian multinational company specialising in engineering research and development (ER&D) services. LTTS offers a wide range of services across various industries, including automotive, aerospace, industrial products, and medical devices.
As a subsidiary of Larsen & Toubro, LTTS has established a global presence with offices in over 25 countries.
L&T Technology Services Revenue Reported 9.5% Growth in Q3FY25, reaching ₹2,653 crore.
The company also reported its highest-ever large deal bookings this quarter.
L&T Technology Services Revenue Q3FY25 Highlights:
Revenue: ₹2,653 crore (up 3.1% quarter-on-quarter)
Net Profit: ₹322 crore (up 0.9% quarter-on-quarter)
EBIT Margin: 16.2% (excluding one-time M&A costs)
Large Deals: 8 major deals, including one worth $50 million
L&T Technology Services Products and Services
L&T Technology Services serves industries with various products and services!
- Product Engineering: Software Engineering, Embedded Engineering, Mechanical Design, and Testing & Validation.
- Digital Engineering: Software Engineering, Embedded Engineering, Mechanical Design, and Testing & Validation.
- Plant Engineering: CAPEX Project E/EPCM Services, Operational Excellence, Plant Sustenance & Management, Material & Parts Management, and Regulatory Compliance Engineering.
- Manufacturing Engineering- Smart Manufacturing, Supply Chain Engineering, Manufacturing & Planning, and Manufacturing Execution.
L&T Technology Services Industries
LTTS operates across Sustainability, Tech, and Mobility sectors!
- Sustainability – Discrete Manufacturing & Industrial Products, Process Manufacturing
- Tech – MedTech, HiTech, Public Infrastructure & Smart Cities
- Mobility – Automotive, Aerospace Engineering, Rail Transportation, Trucks & Off-Highway Vehicles
Technology for Good: LTTS’s Commitment to Communities
L&T Technology Services (LTTS) is dedicated to driving meaningful social change through its Corporate Social Responsibility (CSR) initiatives. With a focus on sustainability and community empowerment, LTTS invests in key areas such as water conservation, healthcare, education, and skill development to improve lives and create long-term impact.
Technology-Driven Social Impact
From providing clean water solutions in villages to offering mobile eye care services and enhancing science education through mini-labs, the company remains committed to fostering sustainable development.
Key Initiatives:
- ENWA (Water) – Supporting water conservation and management in rural areas.
- Sparsh (Healthcare) – Delivering mobile eye care facilities to underserved communities.
- Naya Savera (Skill & Education) – Empowering individuals through vocational training and science-based learning.
By collaborating with NGOs, institutions, and local communities, LTTS continues to strengthen its role as a responsible corporate citizen, using technology and innovation to create a lasting positive impact.
L&T Technology Services Limited: FAQs
L&T Technology Services Limited (LTTS) is a global leader in Engineering Research and Development (ER&D) services, offering consultancy, design, development, etc.
LTTS, established in 2012, is a subsidiary of Larsen & Toubro Limited, specializing in ER&D services across industries like transportation, industrial products, telecom, medical devices, etc.
As of February 20, 2025, LTTS’s share price is ₹4,915.
In the third quarter of fiscal year 2025, LTTS reported revenue of ₹2653 crores, reflecting a 9.6% year-on-year growth.
LTTS offers services in product engineering, digital engineering, plant engineering, and manufacturing engineering, catering to sectors like automotive, aerospace, industrial products, and medical devices.
As of February 10, 2025, LTTS’s market capitalisation is ₹51,273 crore.
LTTS is headquartered in Vadodara, India.
Founded in 2012 as a subsidiary of Larsen & Toubro, LTTS has grown into a leading ER&D services provider, serving clients across 25 countries.
Amit Chadha has been the CEO and Managing Director of LTTS since April 1, 2021.
Source- https://www.ltts.com
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