Jan 18: L&T Technology Services Ltd (LTTS), a leading global pure-play engineering services company, on Thursday announced that it has won a landmark project worth $50 million spanning over five years from a leading aerospace electronic systems manufacturer. The transformational deal significantly extends the engagement between the companies.
“The prestigious award follows a rigorous validation process for the coveted engagement. L&T Technology Services emerged as the winner to be the strategic supplier for the client’s ER&D pursuits,” the company said.
Commenting on the deal, Amit Chadha, President, Sales & Business Development and Whole-Time Director, L&T Technology Services, said, “the need for compelling user experience is of utmost importance like never before and aerospace customers are looking for end to end engineering partners for their new age aviation initiatives. This partnership with LTTS will help bring in our proven expertise in advanced data analytics and avionic simulations to drive product improvements across their product lines.”
According to LTTS, the project with the company will result in transformation of the customer’s operations into a managed services model. This model will encapsulate support to both existing products and also for work related to next generation in-flight system, it said.
Incorporated in 2012, LTTS is based in Mumbai and is operating as a subsidiary of Mumbai-based engineering and construction major Larsen & Toubro Ltd (L&T). The company deals in technologies, services and solutions across transportation, industrial products, telecom and hi-tech, process industry, and medical devices. The company specializes in engineering and related services.
LTTS shares were trading in red at Rs 996.65, down 0.32% from the previous closing of Rs 999.85, on BSE at 1.35 pm today.