L&T INFOTECH: VIJAY KUMAR MAGAPU
A Billion-dollar jackpot!
How did L&TI grow to become a $320 million enterprise
under less than a decade? What did it have that others didn’t? The answer, simply put, is L&T! Surely, when you’re the 100% subsidiary of an already gargantuan $4 billion global Fortune 2000 giant, not many can challenge you competence to deliver on your promises. Today, L&TI leverages the domain expertise of its parent along various industry verticals like Banking, Financial Services & Insurance (BFSI), Manufacturing, Communications and Embedded Systems. Claims A. M. Naik, Chairman & MD, L&T, “By 2008, we aim to reach $400 million and we plan to touch the billion dollar mark by the turn of the decade!”
Having grown annually by 61% during 2006-07, the company plans to increase its headcount by another 9,200 skilled manpower and is looking at 3-4 credible global acquisitions as V. K. Magapu revealed, “L&T Infotech would prefer to acquire a company with revenues of about $50 million. We are looking at niche companies, which will deliver immediate synergies coupled with offshore expertise.”
Surely, while L&TI may take the credit for setting some standards by reporting a 114.29 increase in net profits to touch $37.5 million during FY2006-07, there is no denying that it still has some distance to cover before it occupies a seat close to the nowhere close to the big boys of Indian IT! So what is its immediate agenda? To this Naik responds, “L&T Infotech will continue focusing on BFSI, manufacturing & communication verticals. We believe these will offer marvelous augmentation prospects” Well said!
A Billion-dollar jackpot!
How did L&TI grow to become a $320 million enterprise
under less than a decade? What did it have that others didn’t? The answer, simply put, is L&T! Surely, when you’re the 100% subsidiary of an already gargantuan $4 billion global Fortune 2000 giant, not many can challenge you competence to deliver on your promises. Today, L&TI leverages the domain expertise of its parent along various industry verticals like Banking, Financial Services & Insurance (BFSI), Manufacturing, Communications and Embedded Systems. Claims A. M. Naik, Chairman & MD, L&T, “By 2008, we aim to reach $400 million and we plan to touch the billion dollar mark by the turn of the decade!”Having grown annually by 61% during 2006-07, the company plans to increase its headcount by another 9,200 skilled manpower and is looking at 3-4 credible global acquisitions as V. K. Magapu revealed, “L&T Infotech would prefer to acquire a company with revenues of about $50 million. We are looking at niche companies, which will deliver immediate synergies coupled with offshore expertise.”
Surely, while L&TI may take the credit for setting some standards by reporting a 114.29 increase in net profits to touch $37.5 million during FY2006-07, there is no denying that it still has some distance to cover before it occupies a seat close to the nowhere close to the big boys of Indian IT! So what is its immediate agenda? To this Naik responds, “L&T Infotech will continue focusing on BFSI, manufacturing & communication verticals. We believe these will offer marvelous augmentation prospects” Well said!
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist)
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