LTIMindtree aspires to be $10bn in revenue: CEO – Times of India

BENGALURU: LTIMindtree aspires to become a $10 billion enterprise, CEO Debashis Chatterjee said a day after L&T Infotech (LTI) and Mindtree merged.
“We have not put a timeline to this goal. To support that growth, the strategy will be both organic and inorganic (acquisitions). The inorganic will not be just for the sake of scale, but more for accelerating revenues in specific geographies, service lines or verticals,” he said.
LTIMindtree is the fifth largest IT company in terms of market cap and sixth largest in terms of revenue. L&T Group chairman A M Naik said on Monday that the merged company will generate a revenue of $5.6 billion this year, and $6 billion next year. The company has 90,000 employees.
LTI counts Citi, Nordea and Barclays among its top BFSI customers. Mindtree has Microsoft, Marriott, SITA and P&G among its top customers.
Analysts have pointed out that the two companies have limited overlaps in major verticals, and have diversified service offerings, which would aid pricing and cross-selling opportunities. Chatterjee said there haven’t been too many large deals in the past 12 to 18 months, but those could emerge next year. “We must be ready for large deals. Given the size and capabilities we have now, we are confident that not only will we have a seat at the table for those large deals, but we can also stitch better end-to-end solutions for many of those scenarios. There are also 700 clients where only one company (either LTI or Mindtree) has worked with. So we have a tremendous opportunity to upsell and cross-sell,” he said.
The two entities together have a significant cloud partner ecosystem, including hyperscalers. Mindtree has partnerships with Salesforce and Adobe, LTI has strong credentials with Snowflake and ServiceNow. “Given that a significant part of our growth is led by how we work with hyperscalers, we will now have a much stronger position with them as a merged entity,” Chatterjee said.
He said LTIMindtree will focus on strengthening consulting capabilities. “Consulting can take the lead in large-scale transformation opportunities. Over the next 3-4 months, we will finalise the strategy, factoring in the macroeconomic scenario,” he said.

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