We are targeting $1 bn sales by 2021: L&T Tech CEO Keshab Panda

L&T Tech CEO Keshab Panda
L&T Technology Services Limited Chief Executive Officer and Managing Director Keshab Panda tells Romita Majumdar how the move towards digital growth is giving a strategic push to revenues. Edited excerpts.

What technologies are clients looking at, and what is driving this growth?

Last year we saw more clients venturing into the strategic decision making phase for digital projects. This year we have witnessed more projects going beyond the initial idea into the pilot stage. Compared to 16 per cent in 2016-17, almost 27 per cent digital projects went into the impact and return on investment phase. 

 
Our top customers are split across areas, from semi-conductors to aerospace to automotives to 
telecom. 

With a large number of new technology digital deals coming in, has your talent requirement changed? 

We have invested in creating the technology stack for 5G. Earlier revenue growth was proportional to manpower, which is not the case anymore. We are targeting $1-billion business by 2020-21, which requires a compounded annual growth rate (CAGR) of 15 per cent. 

 
We need engineers who understand the concepts well and are always looking for talent. We are conducting campus hiring overseas as we do in India, across Illinois, Texas and San Jose while some local acquisitions have also increased the US resource base.

Analysts are talking about how LTTS is making a mark in the global innovation centre and capability centre market…

We set up an Internet of Things lab with Cisco. Now Rockwell has joined us on similar technology. Increasingly, customers are looking to set up innovation labs in collaboration with us due to our domain knowledge. 
We are also working with Microsoft on platform development. We have a security solutions centre in Israel and we are also collaborating with many companies in the country.

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