According to sources it was stated that L&T Technology Services (LTTS) on May 3 has delivered its highest ever growth for FY19 in the March quarter driven by the growth in the electrification of vehicles, autonomous vehicles and over the top (OTT) systems. For FY20, the company is looking at another good year of growth on the back of a healthy pipeline for deals, and a rising momentum in the transportation and logistics sector, said Amit Chadha, President, LTTS.
Chadha said, “This growth is probably the highest we have seen so far in our history.” He explained that this was driven by two or three factors. The company saw good demand for its digital engineering services from the US, Europe and Japan. This demand was driven by the automotive sector due to a growing momentum in autonomous driving, the electrification of vehicles and infotainment systems.
Manufacturing plants are also investing in smart manufacturing operations, medical devices companies are spending on digital innovation and investments in 5G. The rising momentum in the media and entertainment space is driven by the growth of the over the top (OTT) space.