Post-SWC acquisition, LTTS eyes $2-bn revenue by FY26

L&T Technology Services, a subsidiary of construction major Larsen & Toubro, aspires to hit $2 billion in annual revenues by FY26, post its acquisition of Smart World

and Communication. The engineering services company will also focus on developing full-stack technology offerings in next gen communications, smart spaces and

cybersecurity, even as it expects to double the revenue of the combined Smart World and Communication (SWC) business to $400 million in the next three years, a top official

said. On Thursday, L&T Technology Services (LTTS) entered into an agreement to acquire SWC—a connected intelligence solution provider with presence in

communications, safe and smart solutions and cybersecurity—from parent L&T in a Rs 800-crore deal. Also read: Traders’ body CAIT asks for Data Protection Bill in

Budget session SWC has an employee base of more than 700 engineers and had posted a revenue of Rs 1,098 crore in FY22. “From the revenue standpoint, we are at

a run rate of $1 billion and SWC’s business will be about $140 million. This puts us in line to achieve $1.5 billion by FY25, and $2 billion shortly thereafter,”LTTS CEO & MD

Amit Chadha said. “Together with SWC, this business is a $200 million plus business, which we want to double to $400 million in the next three years,” he added. LTTS

will move SWC business to a pay-as-a-service model, with focus more on technology aspects. This would be by bringing together SWC’s L&T Fusion platform, gEdge data centres,

smart metering, LTTS’ i-BEMS (LTTS’ proprietary building automation framework) and UBIQWeise (proprietary cloud IoT platform) among others.