LTTS Reports Strong Q1FY27 Growth but Adds Only 15 Employees

L&T Technology Services (LTTS) reported a steady performance for the first quarter of FY27, posting double-digit growth in both revenue and profit. While business momentum remained strong, the company continued its measured hiring approach, adding 32 employees during the quarter and keeping voluntary attrition unchanged at 14.7%.

The engineering services company also strengthened its AI capabilities, expanded its patent portfolio, and secured multiple large deals during the quarter.

Revenue and Profit Rise in Q1

Revenue from operations rose to ₹2,940.10 crore in Q1 FY27, up 11.47% year-on-year and 2.88% quarter-on-quarter.
Total income reached ₹2,969.20 crore, registering a 9.79% YoY and 1.92% QoQ growth.
Net profit increased to ₹357.10 crore, growing 12.97% year-on-year and 7.34% quarter-on-quarter.

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The company also reported an improvement in operating margins, reflecting better execution and a healthy mix of projects.

Workforce Grows Modestly, Attrition Remains Stable

From an HR perspective, LTTS maintained a cautious hiring strategy during the quarter.

The company ended June 2026 with a total workforce of 23,845 employees, compared to 23,830 employees at the end of March 2026, resulting in a net addition of 15 employees.

Voluntary attrition over the last twelve months remained stable at 14.7%, unchanged from the previous quarter and lower than 14.8% a year ago. The company had 22,277 billable employees, while 1,568 employees were in sales and support functions.

The numbers suggest LTTS continues to focus on improving productivity and retaining talent while making selective additions to support business growth.

Sustainability Drives Growth

Among its business segments, Sustainability remained the largest contributor and recorded the strongest growth, with revenue increasing 23.7% year-on-year to ₹1,090.4 crore.

The Mobility business also returned to growth, with revenue rising 11.9% to ₹948.8 crore. The Tech segment remained largely flat at ₹900.9 crore.

The company’s performance across these segments is expected to support continued demand for engineering, digital and AI talent.

AI Investments and Large Deal Wins

LTTS continued to expand its AI-led engineering capabilities during the quarter through a partnership with Anthropic. The company increased its AI patent portfolio to 244 patents, while its overall patent portfolio crossed 1,757 patents.

The company also reported strong deal momentum, winning:

One deal worth more than $30 million
One deal above $20 million
Four deals valued at over $10 million each

Management Outlook

Commenting on the results, Amit Chadha, CEO and Managing Director, said the company’s Lakshya 31 strategy continues to deliver healthy growth and improving margins. He noted that the Sustainability business maintained its strong momentum, while the Mobility segment returned to growth during the quarter.

LTTS reaffirmed its long-term target of achieving 13-15% revenue CAGR over the next five years while maintaining EBIT margins of 16-17%.

The company did not announce any dividend, buyback, or bonus issue along with its Q1 FY27 results.

For HR leaders, the quarter reflects a familiar trend across the engineering and IT services industry—steady business growth supported by selective hiring, stable attrition, and increasing investment in AI capabilities rather than large-scale workforce expansion.

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