L&T Technology Services Ltd.LTTS: revenue +2.7% QoQ, EBIT margin 16.3%, large deals $203 mn

L&T Technology Services' Q2 FY27 call, held on 19 October 2026, reported revenue of $317.1 million, up 2.7% in constant currency on the quarter and 4.8% on the year, and ₹3,040 crore in rupee terms, up 12.1%.

EBIT margin rose 60 basis points to 16.3%, two quarters ahead of the mid-16% aspiration. Large deal wins were $203 million, over half AI-led, and annualised AI-led revenue reached $120 million. Sustainability grew 13.4% on the year and is now about 30% of revenue; Mobility grew 2.3% on the quarter with European auto still muted; Tech was stable and will be muted in Q3. Net income of ₹548 crore includes a ₹165 crore gain on the Smart World sale, and the board declared an interim dividend of ₹20.

Management said H2 will be better than H1, a Q3 wage hike will cost 50 to 80 basis points, margins should hold at mid-16%, and the long-term aspiration of 13% to 15% revenue growth with 16% to 17% EBIT margins stands. No earlier promises were on file for comparison.