 | |
| Formerly | L&T Infotech |
|---|---|
| Company type | Public |
| ISIN | INE214T01019 |
| Industry | Information technology Consulting Outsourcing[1] |
| Founded | 23 December 1996; 28 years ago (23 December 1996) |
| Headquarters | L&T House,Ballard Estate,Mumbai ,India |
Area served | Worldwide |
Key people | S. N. Subrahmanyan Venu Lambu (CEO and Managing Director) |
| Revenue |  ₹38,997 crore (US$4.6 billion) (2025) |
| ₹6,214 crore (US$730 million) (2025) | |
| ₹4,602 crore (US$540 million) (2025) | |
| Total assets | ₹30,630 crore (US$3.6 billion) (2025) |
| Total equity | ₹22,711 crore (US$2.7 billion) (2025) |
Number of employees | 81,650 (March 2024)[2] |
| Parent | Larsen & Toubro (68.73%) |
| Website | www |
| Footnotes / references Financials as of 31 March 2025[update].[3] | |
LTIMindtree Limited is an Indianmultinationalinformation technology services andconsulting company based inMumbai. A subsidiary ofLarsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.[4]
The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro.[5] During 2001–2002, the company's name was changed from L&T Information Technology Ltd. to L&T Infotech Ltd., and in the same year, the company achieved the assessed level of the Software Engineering Institute's (SEI) Maturity Level 5.[6][7]
Between 2009 and 2012, parent Larsen & Toubro sought to scale up L&T Infotech by making a series of acquisition attempts, forSatyam Computer Services,Patni Computer Systems and Hexaware Technologies, all three of which proved to be unsuccessful.[8][9]
In 2013–14, L&T Infotech's engineering services segment was acquired by parentLarsen & Toubro's newly created technology and engineering services subsidiary calledL&T Technology Services.[10][11]
In July 2016, L&T Infotech wentpublic via aninitial public offering (IPO) of₹1,243 crore (US$184.98 million).[12]
Between 2016 and 2017, L&T Infotech had contracts with theIncome Tax Department andCentral Board of Direct Taxes to detect income tax evasion usingprofiling,data models andsocial media analytics.[13][14]
The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.[15]
In June 2019, Larsen & Toubro completed itshostile takeover of Bengaluru-based companyMindtree, despite opposition from the latter's promoters.[16]
In May 2022, it was announced that Mindtree, which was then a different IT services subsidiary of Larsen & Toubro, will be merged into LTI,[17] and the company will be renamed as LTIMindtree.[17][18] Larsen & Toubro Group chairmanA. M. Naik commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality inBFSI industry and was active in the oil and gas sector, while Mindtree had a plurality intechnology, media and telecommunications (TMT) with a presence in travel and hospitality.[19]
The merger was completed in November 2022. After the merger, LTIMindtree became India's fifth largest provider of IT services by market capitalization and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.[20]
LTIMindtree has its presence across the following regions:[21]
| Company acquired | Country | Date | Business | Reference |
|---|---|---|---|---|
| Citigroup Fund Services Canada |  Canada | February 2011 | IT consulting | [22] |
| Information Systems Resource Centre (ISRC) |  India | October 2014 | IT services | [23] |
| AugmentIQ Data Sciences | India | October 2016 | Big data,data analytics | [24] |
| Syncordis |  Luxembourg | November 2017 | Core banking technology | [25] |
| Ruletronics | India | January 2019 | Business process management | [26] |
| Nielsen+Partner |  Germany | February 2019 | IT consulting | [27] |
| Lymbyc | India | July 2019 | AI,machine learning | [28] |
| Powerupcloud Technologies | India | October 2019 | Cloud computing | [29] |
| Cuelogic Technologies | India | July 2021 | Digital engineering | [30] |
| Mindtree | India | May 2022 | IT services | [31] |
| Divisions & subsidiaries | |
|---|---|
| Former holdings | |
| People | |
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