LTIMindtree

LTIMindtree Limited is an Indian multinational information technology services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, the company was incorporated in 1996 and employs more than 81,000 people.^[4]

LTIMindtree

Formerly	L&T Infotech
Company type	Public
Traded as	BSE: 540005 NSE: LTIM
ISIN	INE214T01019
Industry	Information technology Consulting Outsourcing[1]
Founded	23 December 1996; 28 years ago (23 December 1996)
Headquarters	L&T House, Ballard Estate, Mumbai , India
Area served	Worldwide
Key people	A. M. Naik (Chairman) S. N. Subrahmanyan (Vice-chairman) Venu Lambu (CEO (Designate))
Revenue	₹38,997 crore (US$4.6 billion) (2025)
Operating income	₹6,214 crore (US$730 million) (2025)
Net income	₹4,602 crore (US$540 million) (2025)
Total assets	₹30,630 crore (US$3.6 billion) (2025)
Total equity	₹22,711 crore (US$2.7 billion) (2025)
Number of employees	81,650 (March 2024)[2]
Parent	Larsen & Toubro (68.73%)
Website	www.ltimindtree.com
Footnotes / references Financials as of 31 March 2025[update].[3]

History

Logos between 2001–2017 and 2017–2022

The company was founded as L&T Information Technology Ltd in December 1996 as a subsidiary of Larsen & Toubro.^[5] During 2001–2002, the company's name was changed from L&T Information Technology Ltd. to L&T Infotech Ltd., and in the same year, the company achieved the assessed level of the Software Engineering Institute's (SEI) Maturity Level 5.^[6][7]

Between 2009 and 2012, parent Larsen & Toubro sought to scale up L&T Infotech by making a series of acquisition attempts, for Satyam Computer Services, Patni Computer Systems and Hexaware Technologies, all three of which proved to be unsuccessful.^[8][9]

In 2013–14, L&T Infotech's engineering services segment was acquired by parent Larsen & Toubro's newly created technology and engineering services subsidiary called L&T Technology Services.^[10][11]

In July 2016, L&T Infotech went public via an initial public offering (IPO) of ₹1,243 crore (US$184.98 million).^[12]

Between 2016 and 2017, L&T Infotech had contracts with the Income Tax Department and Central Board of Direct Taxes to detect income tax evasion using profiling, data models and social media analytics.^[13][14]

The company rebranded itself as 'LTI' with a tag line of 'Let's Solve' in May 2017.^[15]

Mindtree merger

In June 2019, Larsen & Toubro completed its hostile takeover of Bengaluru-based company Mindtree, despite opposition from the latter's promoters.^[16]

In May 2022, it was announced that Mindtree, which was then a different IT services subsidiary of Larsen & Toubro, will be merged into LTI,^[17] and the company will be renamed as LTIMindtree.^[17][18] Larsen & Toubro Group chairman A. M. Naik commented that there was not much overlap between the two companies in terms of industries and clientele; LTI had a plurality in BFSI industry and was active in the oil and gas sector, while Mindtree had a plurality in technology, media and telecommunications (TMT) with a presence in travel and hospitality.^[19]

The merger was completed in November 2022. After the merger, LTIMindtree became India's fifth largest provider of IT services by market capitalization and sixth largest by revenue. Shares of Mindtree were delisted and shareholders were allotted 73 shares of LTI for every 100 shares of Mindtree held. The parent company, Larsen & Toubro, held a 68.73% stake in the merged entity.^[20]

Global presence

Ramanujan IT City, Chennai

Powai, Mumbai

Sattva Global City, Bangalore

LTIMindtree campuses

LTIMindtree has its presence across the following regions:^[21]

• India:

Mumbai – Ballard Estate (HQ), Powai, Airoli, Mahape

Bangalore – Whitefield, Sattva Global City, Manyata Embassy Business Park, Electronic City

Pune – Hinjawadi, Shivajinagar, ICC Tech Park, Kharadi

Chennai – DLF Cybercity, Manapakkam

Hyderabad – Mindspace Madhapur, HITEC City, Gachibowli

Kolkata – Salt Lake City, New Town

Delhi NCR – Moti Nagar, Noida

Kochi – InfoPark

Coimbatore – Rathinam TechZone, TIDEL Park

Mysore – Silver Spirit Tech Park

Nagpur – North Ambazari Road

Bhubaneswar – Khurda

Indore – Vijay Nagar

Warangal – Hanamkonda

• Americas: United States, Canada, Mexico, Costa Rica, Brazil
• Europe: United Kingdom, Germany, Netherlands, France, Sweden, Norway, Poland, Denmark, Finland, Spain, Belgium, Ireland, Romania, Italy, Hungary, Croatia, Portugal, Czech Republic, Luxembourg, Switzerland, Cyprus
• Asia Pacific: Australia, China, Singapore, Japan, Philippines, Malaysia, Taiwan, South Korea, Thailand, Hong Kong
• Middle East: United Arab Emirates, Saudi Arabia, Qatar
• Africa: South Africa, Morocco, Kenya

Acquisitions

See also: Mindtree § Acquisitions

Company acquired	Country	Date	Business	Reference
Citigroup Fund Services Canada	Canada	February 2011	IT consulting	[22]
Information Systems Resource Centre (ISRC)	India	October 2014	IT services	[23]
AugmentIQ Data Sciences	India	October 2016	Big data, data analytics	[24]
Syncordis	Luxembourg	November 2017	Core banking technology	[25]
Ruletronics	India	January 2019	Business process management	[26]
Nielsen+Partner	Germany	February 2019	IT consulting	[27]
Lymbyc	India	July 2019	AI, machine learning	[28]
Powerupcloud Technologies	India	October 2019	Cloud computing	[29]
Cuelogic Technologies	India	July 2021	Digital engineering	[30]
Mindtree	India	May 2022	IT services	[31]

See also

• L&T Technology Services