The Hindu Business Line : L&T Info aims at $1 b turnover

NEW LOGO: Mr A.M. Naik, Chairman & Managing Director, Larsen & Toubro Ltd (L&T), and Chairman of L&T Infotech, launching the new brand identity for L&T Infotech in Mumbai on Monday. — Shashi Ashiwal

Mumbai June 11 L&T Infotech, the IT subsidiary of Larsen & Toubro, will report a turnover of $1 billion (over Rs 4,000 crore at current exchange rates) within a period of three or four years, said Mr A.M. Naik, Chairman & Managing Director, L&T, at the launch of a new brand logo for the subsidiary on Monday.

In the financial year 2007, it had reported revenues of $287 million. Its CAGR for the last four years has been 50 per cent, he said. A five-year strategic plan has been implemented keeping the $1-billion target in mind, said company officials.

The new logo retains the L&T medallion but in a contemporary multifaceted 3D form, the primary colour being yellow, and described by the company as "vibrant" and "optimistic".

A new 1,900-seat software development centre was also inaugurated at Mahape in Navi Mumbai. This entailed an investment of Rs 60 crore. More such centres will come up in Mumbai, Bangalore and Chennai in 2008, they said.

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