LAMBU
IT companies likely to see 2-3% AI led deflation over the next 1-2 years
The rise of artificial intelligence is anticipated to contribute to ongoing revenue challenges within the IT services sector. Leading firms such as Tata Consultancy Services and Wipro have begun to adapt their revenue models. While some leaders believe AI-related growth may soon balance out traditional losses, worries about AI-induced deflation and reduced discretionary spending linger. Analysts suggest that these trends could persist until at least FY29 during contract renewals.
LTM boss sees short-tenure AI deals fuelling quicker revenue boost in H2
Deal closures are also at an inflection point with LTM's sales teams targeting AI deals that are shorter tenured but generate revenue quicker, Lambu told ET in an interview a day after India's sixth largest IT services company reported its second quarter results.
Zetwerk IPO fully subscribed; Super.money triples revenues
Zetwerk’s Rs 5,012-crore IPO was subscribed 3.06 times on Monday, the last day for bids. This and more in today’s ETtech Top 5.
LTM profit dips marginally, revenue up 13.6% YoY
Revenue recorded healthy growth on a year-on-year (YoY) basis by 13.6% to Rs 11,807.6 crore supported by financial services, consumer and production sector in key regions of North America and Europe. Rest of the World region and technology & services vertical showed a sequential degrowth, which impacted revenue to grow by 1.7% from the June quarter.
LTM Q2 Results: PAT remains flat at Rs 1,380 crore; revenue rises 14% YoY; co declares Rs 25 per share dividend
LTM reported a marginal 0.1% decline in Q2 FY27 profit to Rs 1,379.9 crore, while revenue rose 13.6% to Rs 11,807.6 crore. Enterprise AI and Business AI revenue grew 47%, and the company declared an interim dividend of Rs 25.
SaaS is beating the ‘SaaSpocalypse’! CLSA explains what AI means for Indian IT stocks
CLSA sees AI widening the gap between SaaS platforms and Indian IT services, favouring Persistent Systems and LTIMindtree. SaaS firms are gaining productivity, while system integrators face automation pressure. Both companies are adapting through deal growth, AI adoption and higher-value engineering work.
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LTM makes fresh tech push from Kolkata with Global Delivery & AI Competency Centre
LTM, the business creativity partner to global enterprises, has inaugurated a new Global Delivery & AI Competency Centre in Kolkata, expanding the L&T Group’s technology and AI capabilities in West Bengal. The centre will support global delivery operations, develop AI solutions, create technology opportunities and tap Kolkata’s talent pool, academic ecosystem and digital infrastructure as part of LTM’s wider India expansion strategy.
Tax project delay hurt Q1 results, AI-led deflation behind us, says LTM’s Lambu
Financial services and technology, which together account for 57% of revenue for India’s sixth largest IT service firm, each grew more than 3% sequentially in the first quarter. With this, Lambu said, LTM expects the artificial intelligence-led revenue deflation to be behind the firm.
LTM CEO Venu Lambu draws Rs 27.26 crore in FY26: Annual report
LTM Limited's new CEO Venugopal Lambu received Rs 27.26 crore in remuneration for FY26. This included fixed pay, variable compensation, and stock options. Former CEO Debashis Chatterjee's payout for a shorter tenure was Rs 15.75 crore. The company also reported strong profit and revenue growth for the fiscal year.
Cost pressures part of normal market evolution, says LTM CEO
LTM CEO Venu Lambu downplayed AI-led deflation concerns, framing pricing pressures as normal market evolution requiring adaptation. He emphasized execution as the key challenge amidst a generational technology shift, with LTM restructuring into three service lines, including a new business AI unit, to drive growth and double revenue.
AI-native deals, services strengthening IT spends: LTIMindtree CEO Venu Lambu
LTIMindtree is seeing rising demand for AI-led and AI-native services, even as discretionary enterprise spending remains uncertain. The company reported 6.1% year-on-year growth and is targeting double-digit growth by Q4. In a bid to expand its domain capabilities and geographical presence, the company is looking for acquisition opportunities, chief executive Venu Lambu said.
LTIMindtree saw $60 million in H1 incremental revenue via agentic AI, says CEO
The IT services provider expects short-term headwinds to persist in 2026 when macroeconomic conditions are likely to remain tough for the industry. But there are pockets of optimism as well.
LTIMindtree betting big on new AI unit, says CEO Venugopal Lambu
LTIMindtree is boosting its AI focus with a new platform called BlueVerse. This initiative aims to assist companies in adopting artificial intelligence. The company sees significant potential in AI-led deals. While clients expect savings from AI efficiencies, LTIMindtree navigates these changes. The firm anticipates strong revenue growth for the financial year.
Staggered pay hikes in IT industry are the new normal: LTIMindtree CEO
LTIMindtree, on Thursday, announced that it is modifying its wage-hike cycle. Instead of one annual wage hike, which typically occurs in April-June quarter, raises will be split across two quarters. Half of the employees will get hikes effective January 1 and the other 50% on April 1.
AI-assisted coding is the way to go when hiring graduates: LTIMindtree CEO
Venugopal Lambu said there was more emphasis in terms of the learning ability, and the foundational skill sets that freshers have on which companies can build, using their training and learning methods. “So those assessments will always improvise it…Whenever we hire people, we take all those aspects, whether it is related to the coding roles, cloud roles or infrastructure roles or data roles,” he said.
AI becoming part of large deals, closure cycles longer: LTIMindtree CEO
LTIMindtree is integrating AI, including agentic and generative AI, into its large deals, although these deals have a longer closure cycle. CEO Venugopal Lambu emphasizes that AI adoption will decouple headcount from revenue growth as companies achieve more with less effort. The company is also focusing on vendor consolidation, new growth areas, and skilling its workforce for the AI-driven future.
LTIMindtree CEO Debashis Chatterjee retires early; Venugopal Lambu takes charge amid leadership confusion
Chatterjee opted to retire due to personal reasons, effective May 30, six months before his term ends on November 13. LTIMindtree has seen over 10 senior executive exits in the past two years. Lambu’s comeback is seen as a strategy to stabilise the ship at LTIMindtree, which has seen a series of over 10 senior executive exits over the past two years
AI boom changing IT deal pricing model: LTIMindtree top executive
Clients at the $280-billion IT outsourcing industry are continuing to focus on vendor consolidation due to tariff-triggered concerns that continue to build macro uncertainties further pushing down non-urgent technology demand from corporates. “Once you bring AI adoption, the pricing model also changes...It's not just the price per FTE (full-time equivalent), it may be price per engagement," said Venugopal Lambu.
LTIMindtree creates new global AI services role for COO Nachiket Deshpande in new organisational structure
Nachiket Deshpande, also a whole-time director at LTIMindtree, will assume the role of president for global AI services, strategic deals, and partnerships at LTIMindtree, with immediate effect.
LTIMindtree links pay hikes of managers to a new competency test
At the L&T subsidiary, P0 and P1 refer to the engineering graduates and trainees, while P3, P4 and P5 bands belong to managers, team leads, and lead architects with more than four years of company experience. Experts from the industry say this also can weed out a lot of workforce as the same work can be done by fewer employees given the productivity improvements and efficiency in software coding.
Incoming LTIMindtree CEO Venugopal Lambu lays out 90-day fit-for-future plan
He is also preparing a five-year strategy and a 2030 vision for the organisation, Lambu said in his first media interview with ET, less than a month after being appointed.
LTIMindtree names former employee Venugopal Lambu as CEO designate
LTIMindtree, said on Friday that former president Venugopal Lambu would return as CEO after a two-year stint at Randstad Digital. He was president of LTIMindtree's global markets business for three years until 2023 before leaving to helm the tech arm of staffing giant Randstad.
Tata’s big Pegatron deal; Everstone acquires Wingify
Tata acquires a controlling stake in Pegatron Technology India. This and more in today’s ETtech Top 5.
LTIMindtree director Venu Lambu quits
Lambu had joined Mindtree in 2020 and had previously worked at Cognizant and HCLTech. He was part of the key management personnels present during the merger completion announcement of Larsen & Toubro Infotech and Mindtree in November 2022.
LTIMindtree shares fall over 2% after director Venu Lambu resigns
“We hereby inform you that Venugopal Lambu has resigned from the position of whole-time director and president, Markets II, to pursue opportunities outside the company,” LTIMindtree said in a statement.
Mindtree announces executive appointments in Europe, Asia Pacific
Mindtree is making sustained investments in Europe and Asia Pacific as part of its 4X4X4 strategy, global president Venu Lambu says. A strong leadership is vital to help clients unlock value from digital transformation, he says.
Former Dawood Ibrahim aide dies in Mumbai hospital of heart ailment
Shakeel Ahmed Sheikh, also known as Lambu Shakeel, was suffering from a heart ailment, a hospital official said.
ATS nabs 1993 Mumbai blasts accused
Lambu had been absconding for the past 25 years and, according to the police, he remained in Dubai for most of the time.
JD(U) MLA arrested in Bihar
Ruling JD(U) MLA Sunil Pandey was today arrested in connection with the escape of a bomb blast case accused from a court here in January.
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