L&T Technology Services Limited (LTTS), a listed subsidiary of Larsen & Toubro, reported revenue of ₹3,040.4 crore for the second quarter ended September 30, 2026, marking a 12.1% year-on-year increase. Revenue grew 3.4% sequentially, while dollar revenue reached US$317 million, up 2.7% quarter-on-quarter in constant currency terms.
Earnings before interest and tax (EBIT) margin improved by 60 basis points sequentially to 16.3%. Net income stood at ₹548.2 crore, increasing 66.8% year-on-year and 53.7% quarter-on-quarter. The reported net income includes a one-time gain of ₹165 crore from the disinvestment of the company’s SWC business. The company declared an interim dividend of ₹20 per share, with October 27, 2026, set as the record date.
LTTS secured large deals with a total contract value exceeding US$200 million during the quarter. Artificial intelligence-related contracts accounted for more than 50% of the total. The wins included one contract worth US$75 million, one exceeding US$30 million, one worth US$25 million and six contracts valued at more than US$10 million each.
Amit Chadha, Chief Executive Officer and Managing Director of LTTS, said investments in Engineering Intelligence (EI) and a diversified service portfolio had supported growth in revenue, profitability, large deals and AI-related business. He noted that the Sustainability segment recorded its strongest growth during the quarter, Mobility continued its growth momentum and the Tech segment remained steady. Gross margins improved across all three segments.
The company’s EIOne platform, which comprises more than 100 solutions spanning engineering, products, manufacturing and operations, is gaining traction with customers. LTTS also launched an Engineering Intelligence Lab in partnership with NVIDIA to develop applications using physical AI for manufacturing, robotics and supply chains. The company’s AI patent filings exceeded 250, while its overall patent portfolio reached 1,808 at the end of Q2 FY27. Of these, 1,085 patents were co-authored with clients, with the remaining patents filed by LTTS. Its workforce stood at 24,035 employees.
During the quarter, LTTS received a Gold Award for Industrial Engineering and Automation R&D at the CII Awards for Excellence in R&D 2026. Its PLxAI solution won the nasscom AI Gamechangers Award in the Manufacturing category. The company was also recognised in Everest Group’s Product Lifecycle Management Services PEAK Matrix Assessment 2026 and at the ET Edge Best Tech Brands Awards 2026.
Mr Chadha said the company’s order backlog and pipeline had improved year-on-year. With several large contracts under consideration, LTTS expects revenue momentum to strengthen in the second half of FY27 while maintaining healthy EBIT margins. Its five-year aspiration remains revenue CAGR of 13% to 15%, with EBIT margins in the range of 16% to 17%.
LTTS provides engineering research and development, design, development, testing and product sustenance services across Mobility, Sustainability and Tech. Its customers include 69 Fortune 500 companies and 57 leading engineering research and development firms across industrial products, medical devices, transportation, telecommunications, high technology and process industries. The company operates through 21 global design centres, 31 sales offices and 111 innovation labs.
