L&T Technology Services reports strong Q2 FY26 performance, records deal wins

L&T Technology Services (LTTS) announced strong Q2 FY26 results, with revenue growing by 1.3% sequentially and 10.4% annually in $ constant currency terms. The company achieved a record high in large deal total contract value (TCV) intake of $292 million, including a $100 million and a $60 million deal. EBIT margins saw a slight improvement to 13.4% for the quarter, with further improvements expected in the second half of FY26.

The Sustainability segment was a key driver, achieving 3.0% sequential and 12.6% annual growth. It secured the largest-ever deal in this segment worth $100 million in the Industrial subsegment. The company also reached a $50 million+ annualized run-rate account in Plant Engineering. The Tech segment grew 28.6% annually, benefiting from the Intelliswift acquisition and securing a significant deal with a US-based telecom infra major.

LTTS is confident in achieving double-digit growth for FY26 and reiterates its medium-term outlook of $2 billion in revenue, supported by a strong order book and strategic investments in AI and new-age technologies. The company aims for mid-16% EBIT margins between Q4 FY27 and Q1 FY28.