LTM CEO Venu Lambu Cites Vendor Replacement as Key Driver of Large Deals

LTM's Robust Deal Momentum in FY26 Driven by AI-Led Solutions

Venu Lambu, chief executive officer and managing director of LTM (formerly LTIMindtree), has attributed the company's robust deal momentum in FY26 to winning over clients from incumbents with sharper AI-led solutions. This trend is expected to continue in FY27, as clients push for efficiency and vendor consolidation. The company secured deals worth $6.6 billion in FY26, a 10.3 percent growth from the previous year, with six large deals exceeding $100 million.

In the March quarter, LTM reported total deal wins of $1.7 billion, marking the sixth consecutive quarter of $1.5 billion in quarterly wins. This growth is attributed to the company's ability to offer cost-efficient and capable solutions to its clients. Lambu expects the competition between IT companies to be focused on two areas: cost play and capability play. Vendor consolidation will drive cost efficiency, while transformation and modernisation spending will determine the capabilities of IT services.

LTM's deal wins are broad-based across BFSI, manufacturing, and consumer technology services, with each segment experiencing its own journey from implementing AI to achieving productivity gains and adjusted growth. Initially, the technology and media segments saw this trajectory, and now the BFSI vertical is following suit. Lambu expects growth in newer areas to increase over the next few quarters in the post-productivity era.

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Deal Wins and Revenue Growth

LTM is now gearing up for the "New Horizons" Programme for FY27, which aims to achieve productivity, cost efficiency, new addressable markets, large deals, and workforce skills development. This programme is part of the L&T Group's larger "Lakshya 31 plan" across businesses, with LTM targeting $10 billion in revenue by FY31-FY32.

Q4FY26 Results

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LTM reported its Q4FY26 results on April 23, with revenue rising 4.7 percent sequentially to Rs. 11,291.7 crore, beating the CNBC-TV18 poll estimate of Rs. 11,155 crore. Constant currency growth came in at 1.4 percent, and net profit stood at Rs. 1,387 crore, up 44.6 percent quarter-on-quarter. For the full year FY26, revenue stood at Rs 42,307.6 crore, growing 11.3 percent YoY, while net profit came in at Rs. 5,377 crore, up 16.09 percent YoY. The company has onboarded around 6,600 freshers out of its targeted 8,000 freshers in FY26.