India’s L&T Technology Services Limited won large deals worth more than $200 million in total contract value in the quarter ended Sept. 30, 2026, and expects stronger revenue momentum later in fiscal 2027.
Revenue reached ₹30.404 billion, up 12.1% from a restated year-earlier comparison and 3.4% from the preceding quarter. The company also reported $317 million in dollar revenue. L&T Technology Services is a listed subsidiary of Larsen & Toubro that provides engineering research and development services.
Artificial intelligence-related deals accounted for more than half of the large deals’ total contract value. The wins included a $75 million contract. Total contract value covers the agreements secured; it is not revenue reported for the quarter. The company did not specify when those awards would become revenue.
CEO and Managing Director Amit Chadha said the order backlog and pipeline of prospective deals had improved from a year earlier. He expects revenue momentum to strengthen in the second half of fiscal 2027. The company did not provide a numerical forecast for that period.
Net income rose 66.8% to ₹5.482 billion, including a ₹1.65 billion one-time gain from the sale of the Smart World and Communication business. The earnings before interest and taxes margin was 16.3%, up 60 basis points from the preceding quarter.
The transfer of that business to AMI Paradigm Solutions Private Limited was completed Sept. 1. L&T Technology Services said the sale would allow it to direct capital toward Engineering Intelligence.
The company restated its comparative results after classifying the sold business as a discontinued operation. Its original release for the year-earlier quarter reported ₹29.795 billion in revenue before that change. The reported 12.1% increase uses the restated comparison, rather than that previously published figure.
The board declared an interim dividend of ₹20 per share. Shareholders eligible on the Oct. 27, 2026, record date stand to receive the payment.
