L&T Tech gains after bagging '50 mln deal from OEM in Europe

The said deal marks a significant achievement for the company in its mobility segment, strengthening its position as a trusted engineering partner in the global automotive ecosystem.

The comprehensive scope of this transformational deal includes the establishment of a development center that leverages software defined vehicle (SDV), advanced driver assistance systems (ADAS) capabilities for the client.

The company secured this prestigious deal through its expertise in SDV, ADAS, and software defined everything (SDe). Its strategic investments in driverless car technologies have enabled the development and launch of an integrated ADAS stack along with cutting edge solutions in AI and SDVs, helping clients accelerate time-to-market and stay competitive.

The company's EV lab in Bangalore, India serves as a hub for the development and testing of advanced electric vehicle technologies. Recently, the company launched LTTSiDrive for global clients in Mobility, a framework for SDV implementation across Auto, Trucks, and Off-Highway vehicles, further underscoring LTTS' innovation-driven approach.

Amit Chadha, CEO & managing director, L&T Technology Services and nasscom executive council member stated, We are thrilled to collaborate with one of the most influential automotive leaders in Europe. This deal underlines LTTS' proven competencies in software-defined mobility and reflects our commitment to enabling transformation in the global automotive landscape. Our expertise in EV technologies, SDVs and ADAS, complemented by our robust digital engineering capabilities, positions us to create powerful impact for our customers, making future-ready mobility a reality.

L&T Technology Services (LTTS) is a global leader in engineering and technology services. A listed subsidiary of Larsen & Toubro (L&T), we offer design, development, testing, and maintenance services across products and processes.

The company's consolidated net profit increased marginally to Rs 322.4 crore in Q3 FY25 as against Rs 319.6 crore in Q2 FY25.Revenue from operations was at Rs 2,653 crore in the December 2024 quarter, up 3.11% as against Rs 2,572.9 crore reported in the preceding quarter of the same year.