L&T Technology Services reported a steady third quarter for the financial year 2026, posting double digit growth in revenue and continuing its strong run of large deal wins, even as profit growth remained modest.
The company said its revenue for Q3FY26 rose 10.2% year on year to ₹2,923 crore, driven by sustained demand for engineering, digital and AI led services. Net profit came in at ₹329 crore, up 2.1% from the same quarter last year, while operating margin stood at 14.6%.
The firm also extended its streak of large deal wins to a fifth consecutive quarter, with average total contract value of around $200 million.
During the quarter, it signed multiple large contracts including one deal worth about $70 million with a global OEM, another of about $30 million, a $20 million programme and five more deals each above $10 million.
Amit Chadha, CEO and managing director of L&T Technology Services, said the company is seeing sustained traction across key segments. “We sustained the momentum in large deal wins delivering an average TCV of about $200 million for five consecutive quarters. The Sustainability segment continued to grow double digit on a year on year basis while Mobility is seeing a turnaround,” he said.
Chadha added that the company’s push into AI driven engineering is beginning to reflect in its margins. “Our AI suite of offerings are evolving with the launch of new Agentic AI platforms, as we pivot to deliver full stack Engineering Intelligence solutions, which integrate physical and digital AI for our clients’ products and processes,” he said.
He added that this aligns with LTTS’ 5 year Lakshya plan, which is about doubling down on value accretive high growth and high margin areas.
In terms of talent, L&T Technology Services ended the quarter with a total employee strength of 23,639, reflecting its steady hiring and retention strategy.
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