L&T Technology Services 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.
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited, focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 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, we have over 16,700 employees spread across 17 global design centres, 28 global sales offices and 49 innovation labs
L&T Technology Services and KPIT Technologies hit their respective record highs, surging up to 8 per cent on the BSE in Wednesday’s intra-day trade in an otherwise range-bound market. In comparison, the S&P BSE Sensex was up 0.03 per cent at 60,342 at 11:10 AM. Besides these three stocks, Birlasoft, eClerx Services and Tanla Platforms from the information technology (IT) sector have hit record highs today.
Among the individual stocks, L&T Technology Services (LTTS), a leading global pure-play engineering services company, gained 7 per cent to Rs 5,742 after the company announced that it was selected as an engineering partner by Mavenir and NVIDIA to accelerate the adoption of the industry’s first converged AI-on-5G.
LTTS will support Mavenir with customization, integration and deployment of AI applications for deployment on NVIDIA’s AI-on-5G Platform.
L&T Infotech deals in software products such as Banking, databases, and ERP. Majorly into software services. But whereas, L&T technology services are ultimately into Engineering services, i.e., Industrial products. While L&T has many subsidiaries, Infotech and Technology Services are majors in providing IT and Engineering services, respectively, for a wide range of international clients.
L&T Infotech (LTI) provides software and IT solutions like testing & validation, banking, programming etc., and L&T Technology Services (LTTS) delivers engineering solutions right from inbound docks to outbound docks which include industrial design, manufacturing, supply chain etc., for various Automotive, Process, Aerospace, Medical and Embedded clients worldwide.
L&T infotech is an IT company providing services in the field of Information technology services and computer programming services. At the same time, L&T technology services are services in the area of design, core engineering and IoT. This difference is more towards how and what units offer. This does not include the difference in How an organization structures HR, Salary and Sales modules.
L&T Technology Services has embarked on a long term transformational strategy focusing on four core technology areas dedicated to continuing the innovation-based legacy of the L&T Group. These core areas expect to disrupt traditional business methods and are crucial for our customers to remain ahead of the curve.
It helps design Smart Products and Services for our customers, overcome the challenges they face in decision-making, and enhance data collection and transmission. Digital engineering enables our customers to leverage the new generation of innovative products and services to expand market share and tap into new revenue streams.
It enables ‘human edge’ in machines and makes them intelligent using the five senses (touch, smell, sound, taste and sight). It also allows devices and products to think and learn. Our R&D activities involve critical technologies of the future, such as Human Machine Interface, Artificial Intelligence, Machine Learning, Image and Voice Processing, Neural Networks, Virtual Reality, Sensor Technology and Collaborative Robotics.
This makes use of technology for Industry 4.0, connected manufacturing and automation to build intelligent plants by aligning and integrating our customers’ manufacturing process and evolving technology landscape. Smart manufacturing and operations implement on the manufacturing shop floor at multiple levels for intelligent components and intelligent machines to digital factories.
This is the age of ‘Technology of Everything’, and software embedded technologies have become omnipresent in all business spheres. We continue to invest across the domain of embedded. Applications, especially software, connectivity, eco-friendly technologies, and enhanced security, are critical building blocks.
Tracing the rise of L&T Technology Services, the Rs.3248 crore digital engineering services company, the $16B L&T Group is India’s premier engineering group with activities spread across engineering construction, realty, electrical and automation products, IT services, industrial machinery and equipment, materials, engineering services, and financial services.
The L&T group has evolved over the years and achieved market-leading positions in many markets. The group had developed competencies and capabilities in various areas that, when combined, created opportunities to address new needs.
L&T Technology Services was created in the early 2000s as a contract engineering services company. In 2011, the group reorganizes into 3-to 4 business units based on bringing domain-based skillsets together. For example, IT got separated into L&T Infotech. Though L&T Technology Services (L&T TS) had strong IT-led product and process engineering skills, with a $50M revenue and 2000 people, it was run as a separate subsidiary focused on engineering services headquartered out of Vadodara, Gujarat, in 2009.
In the same year, when the company hired Amit Chadha as the business head of Americas, it was clear that the company was looking at growth coming in from global markets. Amit Chadha’s experience was in the international IT services market, having worked with companies such as Mahindra Satyam (erstwhile Satyam) in manufacturing, energy and utilities, selling large IT outsourcing deals. Amit’s mandate at L&T TS was to drive sales and be the rainmaker for the company.
But the terrain was different from IT services which needed industry domain knowledge and knowledge about application platforms.
L&T TS offers MARS for many of the verticals it serves. MARS provides the development of mobility strategies and AR solutions to enable access to OEM products. Data and enterprise information systems anywhere, anytime. Says Amit, “We are pushing the envelope in Augmented Reality. We are witnessing the growing adoption of Augmented Reality (AR) technologies in mobile devices and wearables like glasses, watches, bands, and helmets. This is well-illustrates by the ability of devices to access context-specific information online like user manuals. Training details, asset information and product catalogues.”
A unique offering is Personal Protection Equipment (PPE) solutions that cover sensor-based. Wearables such as smart helmets and intelligent jackets can monitor and ensure. The safety of workers in potential hazardous workplaces. PPE finds use in construction, mining, oil & gas, factories, manufacturing units and warehouses.
“The PPE solution is an example of IIoT. Devices such as a “smart helmet” are an Industrial IoT wonder increasing connectivity between people, data and machines. The onsite engineers can wear the smart helmet and other accessories such as smart gloves. Jackets and shoes act as smart sensors and transmitting devices. Enabling the worker and the people at the central offices to stay connected.”
The IoT-enabled Personal Protective gear is an example of advanced wearable technology for industrial usage. Employs a Zigbee interface mechanism whereby alerts and notifications are sent to both personnel and their supervisors in case of any breach. The company also plans to introduce PPE axillary services such as heart rate and pulse monitors. Wherein the health and behavioural patterns are traced. Thus ensuring worker safety.
Analytics has been the buzz in business computing; its potential in engineering underrated so far. L&T TS has a slew of services in engineering analytics. Here are a few success stories:
• Demand Forecasting & Outage Management for Utility OEM – A predictive analytics solution that forecasts power demand based on historic data generation patterns – improved forecasting accuracy by up to 90%.
• Health Index Assessment of Power Distribution Transformers – A prescriptive analytics solution that analyses transformer parameters and also provides valuable. Insights into asset health and also operations improved asset uptime by ~95%.
• Condition-based Maintenance of Rotating Equipment – Predictive insights into equipment health, operations and failures – reduced maintenance cost by 16%.
• Warranty Analytics for Heavy Machinery Assets –Analytics framework to analyze vendor performance. Based on asset field failures and warranty claims. Brought cost savings of approximately $2 million.
One of L&T TS’s construction industry customers has various types of construction equipment and also machinery spread across global project sites. Collects operational data on a near real-time basis which is then sent to a cloud platform. The data process uses applied analytics on its UbiqWeise. Platform to provide insights on information such as operational efficiency and preventive maintenance schedules.
L&T TS provided innovative services and solutions for process improvement. waste reduction and also yield improvement for other customers. Its solutions aim to address specific problems by introducing. Advanced sensors and also analytics technologies to detect anomalies at an early production stage. As a result, its solutions enable a reduction of the rejection rates of the products.
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