L&T Technology Services reports 10.2% YoY growth in Q3 FY26 on AI-led deals

Mid-tier IT services provider, L&T Technology Services (LTTS), reported its Q3 fiscal year 2026 results. The Mumbai-headquartered company focuses on AI, digital engineering, and product development services for enterprise clients.

Revenue for the quarter ended December 31, 2025, reached INR 29,235 million, marking a 10.2% increase year-over-year. In USD terms, revenue stood at $326.3 million, up 4.6% from the prior year. Net profit came in at INR 3,291 million, a 2.1% YoY rise. EBIT margin held at 14.6%, reflecting a 120 basis points sequential improvement.

Deal wins drove the performance, with total contract value (TCV) averaging around $200 million for the fifth straight quarter. Key bookings included a $70 million deal from a global original equipment manufacturer, a $30 million contract, a $20 million program, and five deals exceeding $10 million each.

Growth stemmed from double-digit expansion in the sustainability segment and a recovery in mobility services. LTTS attributed its gains to its shift toward full-stack engineering intelligence solutions, which combine physical and digital AI. This aligns with its five-year strategy targeting high-growth areas like agentic AI platforms.

CEO Amit Chadha noted sustained large-deal momentum and margin expansion as early outcomes of these efforts. He said, “We sustained the momentum in large deal wins, delivering an average TCV of ~$200 million for five consecutive quarters. The Sustainability segment continued to grow double-digit on a YoY basis, while Mobility is seeing a turnaround.”

“Our AI suite of offerings are evolving with the launch of new Agentic AI platforms, as we pivot to deliver full-stack Engineering Intelligence (EI) solutions, which integrate physical and digital AI for our clients’ products and processes. Aligning with our 5-year Lakshya plan, we are doubling down on value accretive high-growth & high margin areas,” he added.