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Nirmal Bang Report
L&T Technology Services Ltd.'s held its investor and analyst day on August 27, 2024 in Bengaluru. It spoke about a new organization structure divided into three areas - mobility, sustainability and technology. This organization structure will be used to maintain six internal structures.
The company's CEO, Mr Amit Chandra laid down his strategies and aspirations with regards to L&T Tech for the coming years. One of the aspirations is to become a top five global engineering research and development services company as the global ER&D spend is expected to grow from $1.5-1.8 trillion in CY23 to $2.5-3.3 trillion in CY30.
It is also looking to reach the $3 billion revenue mark (~$1.2 billion in FY24) and this will be achieved by scaling the three broad segments to $1 billion revenue run-rate.
There are 18 strategic areas across these three segments where the investments will be allocated. The idea is to win large deals and it has rewired the large deal engine in order to increase the pipeline by two times.
It will continue to invest in technology areas ahead of the curve so as to get a first mover advantage and gain market share.
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