Info-tech

LTI looking to hire 4,500 freshers this year

Debangana Ghosh Mumbai | Updated on July 18, 2021

Aims to hire more locally in stronger global markets

Larsen & Toubro Infotech (LTI) will be hiring 4,500 freshers this year compared to 3,000 in the last year.

“We added 2,000 people in the last quarter and 2,300 people net this quarter. We are committing to adding 4,500 freshers this year. It was 3,000 last year. We have a lot of confidence when we commit to these numbers because our entire assets are our employees. We will continue to be in the leaders’ quadrant of growth given our exit velocity and deals pipeline,” Sanjay Jalona, CEO and MD, LTI told BusinessLine.

The company which reported its best-ever first-quarter results on Thursday is also looking to hire more locally in some of its stronger global markets. “It is very important for us to invest in the geographies we operate in. Over the past many years, we have done two things: first is we increased offshoring. We bring more value for every dollar the customer spends. If there is somebody with 30 per cent onsite and we are 18 per cent, automatically for the same dollar we can provide a lot more to the customer,” Jalon said.

“Secondly, we have invested heavily in hiring local talent. We have created local geography-based development centres. We have done acquisitions too which helped us find more people in Europe and the US,” he added.

Revenue

The company’s revenue over the past five years in dollars has been growing at a CAGR of 13.5 per cent and more than doubled its profit in the same period. LTI’s net profit rose 19.13 per cent year on year for Q1FY22 to ₹496.3 crore, although it dipped by 8.97 per cent on a quarter-on-quarter basis.

The revenue from operations grew 17.4 per cent year on year to ₹3,462.5 crore in Q1FY22. It surged 5.91 per cent quarter on quarter from ₹3,269.4 crore in Q4FY21.

The company’s performance came on the back of several big-ticket deal wins in the Middle East, Europe and North America.

Jalona said that cloud and all things data are the hottest opportunities because those are the technologies that help customers deal with the new normal. “Anybody who was on-premise, had struggled to take their employees remote, that’s where these technologies came into play. Data is ingrained in everything. We are seeing tremendous opportunities in cloud. Cloud is business transformation on steroids. It’s not only about moving from on-premise to a cloud infrastructure, it’s a totally different way of doing businesses,” he said.

Published on July 17, 2021

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