LTM Aims to Double Revenue to $10 Billion by FY31, Boosted by AI-Led Deal Strategy

LTM Ltd Aims to Double Revenue to $10 Billion by FY31, A Year Ahead of Guidance

LTM Ltd, India's sixth-largest IT services firm, is targeting a revenue of nearly $10 billion by FY31, a year ahead of its earlier guidance, despite the challenges posed by the rise of automation tools and an uncertain geopolitical environment. The company plans to rely on large deals and artificial intelligence (AI)-driven, high-value services to achieve this goal.

In its FY26 annual report, released on Friday, LTM stated that it will balance margin expansion with reinvestment in growth and capabilities. The company ended last year with $4.76 billion in revenue, a 6% increase from the previous year. More than a third of this growth came from manufacturing and resources companies, which account for about a fifth of its revenue.

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LTM will have to navigate the challenges posed by automation and geopolitical uncertainty as it works towards its revenue ambitions. These challenges could prompt large clients to curb technology spending, renegotiate contracts, and disrupt its workforce structure. To mitigate this risk, the company plans to rely on "disciplined planning, strong financial monitoring, and adherence to contractual commitments."

The company aims to offset the risk of cost overruns and operational inefficiencies through monitoring cost, rate revisions, and workforce utilization. LTM is also looking to reduce costs to maximize profitability, which may pose a challenge as the company has outlined cost reduction as another risk for the first time.

In a significant development, LTM has become India's first mid-sized IT firm to give AI oversight to its board of directors. The board of directors, through its audit committee, will track whether AI usage in the company is following country-specific regulations and is up-to-date with best industry practices.

LTM's management reiterated its AI push, stating that the company is committed to becoming an AI-centric organization and simplifying its operating model. The company's chairman, S.N. Subrahmanyan, emphasized the importance of governance in ensuring stability and enabling purposeful transformation.

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LTM was born in November 2022 after L&T made a hostile bid to acquire Bengaluru-based Mindtree and later merged it with Larsen and Toubro Infotech. The company won its largest deal four months after its CEO, Venu Lambu, took over the top job. In October last year, the company won an IT transformation deal valued at $585 million over six years from American entertainment company Paramount Global.

Lambu earned ₹27.26 crore ($2.88 million) as salary last year, which included ₹12 crore each as fixed and variable pay, and ₹3 crore made up of stock options. Former chief executive Debashis Chatterjee earned ₹15.76 crore in FY26.