LTIMindtree

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LTIMindtree
FormerlyL&T Infotech
Company typePublic
ISININE214T01019
IndustryInformation technology
Consulting
Outsourcing[1]
Founded23 December 1996; 29 years ago (23 December 1996)
Headquarters
L&T House, Ballard Estate, Mumbai
,
India
Area served
Worldwide
Key people
S. N. Subrahmanyan (Non-Executive Chairman)
Venu Lambu (CEO and Managing Director)
RevenueIncrease ₹38,997 crore (US$4.6 billion) (2025)
Increase ₹6,214 crore (US$730 million) (2025)
Increase ₹4,602 crore (US$540 million) (2025)
Total assetsIncrease ₹30,630 crore (US$3.6 billion) (2025)
Total equityIncrease ₹22,711 crore (US$2.7 billion) (2025)
Number of employees
81,650 (March 2024)[2]
ParentLarsen & Toubro (68.73%)
Websitewww.ltimindtree.com
Footnotes / references
Financials as of 31 March 2025.[3]

LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.[4]

History

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Logos between 2001–2017 and 2017–2022

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, for Satyam 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 parent Larsen & Toubro's newly created technology and engineering services subsidiary called L&T Technology Services.[10][11]

In July 2016, L&T Infotech went public via an initial public offering (IPO) of ₹1,243 crore (US$184.98 million).[12]

Between 2016 and 2017, L&T Infotech had contracts with the Income Tax Department and Central Board of Direct Taxes to detect income tax evasion using profiling, data models and social media analytics.[13][14]

The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.[15]

Mindtree merger

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In June 2019, Larsen & Toubro completed its hostile takeover of Bengaluru-based company Mindtree, 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 chairman A. M. Naik commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality in BFSI industry and was active in the oil and gas sector, while Mindtree had a plurality in technology, 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]

Global presence

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Ramanujan IT City, Chennai
Powai, Mumbai
Sattva Global City, Bangalore
LTIMindtree campuses

LTIMindtree has its presence across the following regions:[21]

Mumbai – Ballard Estate (HQ), Powai, Airoli, Mahape
Bangalore – Whitefield, Sattva Global City, Manyata Embassy Business Park, Electronic City
Pune – Hinjawadi, Shivajinagar, ICC Tech Park, Kharadi
Chennai – DLF Cybercity, Manapakkam
Hyderabad – Mindspace Madhapur, HITEC City, Gachibowli
Kolkata – Salt Lake City, New Town
Delhi NCR – Moti Nagar, Noida
Kochi – InfoPark
Coimbatore – Rathinam TechZone, TIDEL Park
Mysore – Silver Spirit Tech Park
Nagpur – North Ambazari Road
Bhubaneswar – Khurda
Indore – Vijay Nagar
Warangal – Hanamkonda

Acquisitions

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See also: Mindtree § Acquisitions
Company acquired Country Date Business Reference
Citigroup Fund Services Canada Canada Canada February 2011 IT consulting [22]
Information Systems Resource Centre (ISRC) India India October 2014 IT services [23]
AugmentIQ Data Sciences India India October 2016 Big data, data analytics [24]
Syncordis Luxembourg Luxembourg November 2017 Core banking technology [25]
Ruletronics India India January 2019 Business process management [26]
Nielsen+Partner Germany Germany February 2019 IT consulting [27]
Lymbyc India India July 2019 AI, machine learning [28]
Powerupcloud Technologies India India October 2019 Cloud computing [29]
Cuelogic Technologies India India July 2021 Digital engineering [30]
Mindtree India India May 2022 IT services [31]

See also

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References

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