Infosys' Chandrashekar Kakal Joins L&T Infotech As COO
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Former L&T Infotech, an IT services and solutions company, is a wholly owned subsidiary of the construction and engineering major Larsen & Toubro. The company provides end-to-end solutions and services across sectors, including BFSI, energy, utilities, consumer electronics and healthcare.
L&T Infotech's total income grew 22% to Rs 3,862 crore during FY2012-13. The division's EBITDA margins grew 25.1% in FY 2013-14, compared to 21% in FY2012-13. It now expects to touch $1 billion revenue mark in FY2014-15. The company also planned a number of acquisitions this year, but none has been announced yet. The last major acquisition came in February 2011 when L&T Infotech acquired Citigroup's Canadian IT outsourcing arm Citigroup Fund Services for $40 million.
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