L&T Technology Services
|L&T Integrated Engineering Services|
|Traded as||NSE: LTTS|
|Founded||14 June 2012|
|Dr. Keshab Panda |
(CEO & MD)
Capt. Kapil Bhalla
|Revenue|| US$723.1 million|
(FY ending 31 March 2019)
| US$109.0 million|
(FY ending 31 March 2019)
Number of employees
|Parent||Larsen & Toubro|
|Subsidiaries||Esencia, Graphene Semiconductor Services|
L&T Technology Services Limited (LTTS) is an engineering services company based in Vadodara, Gujarat. It operates as a subsidiary of the conglomerate Larsen & Toubro (L&T), and is listed on the National Stock Exchange and the Bombay Stock Exchange. The company also has offices in Edison, New Jersey, and Munich, and a subsidiary company Esencia, based in San Jose, California.
L&T Technology Services was founded in 2009 as L&T Integrated Engineering Services. In its first year, the company generated $70 million in revenue. Initially, it only operated as the engineering arm of the L&T and in 2013, as a result of the L&T's strategy, the parent company was split into "nine verticals and six subsidiaries", of which this was one. It began to expand its engineering services as a developer of new technology solutions[buzzword] for other companies under a new brand name L&T Technology Services (LTTS).
In September 2016, LTTS had its initial public offering in the National Stock Exchange, making it the second L&T subsidiary to go public. A. M. Naik, the current group chairman of the parent company remained chairman of the subsidiary until his retirement in October 2017. Keshab Panda was named as the CEO and managing director  and S N Subrahmanyan as vice chairman of the company.
In 2017, L&T Technology developed a set of personal safety gear that is based on cloud-enabled technologies. The system includes a set of "helmets, gloves, jackets and shoes that have sensors capturing [the wearers] performance, and sending it to a centralized database on the cloud."
In June 2017, L&T Technology completed the acquisition of the Esencia, a San Jose, California-based engineering firm involved in development of "wireless connectivity solutions, perceptual computing, Internet of Things and advanced silicon products" for $27 million. In July, the company was upgraded to Group A of the Bombay Stock Exchange.
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