L&T to list both IT arms on stock exchanges by July 2016: Report

Larsen & Toubro (L&T) is reportedly planning to list both its IT arms on stock exchanges by July 2016. The two firms comprise L&T Technology Services and L&T Infotech. The company reported a growth of 14.26% in consolidated net revenue for FY14 at Rs 85,128.4 crore from Rs 74,498 crore last fiscal. Of this, L&T Technology Services and Infotech together reported income of Rs 110 crore in FY’14. L&T Infotech provides IT services and solutions in various verticals including banking, insurance, energy and utilities, auto and aerospace, while L&T Technology Services provides end-to-end services, including product design, analysis, prototyping and testing, embedded system design, manufacturing engineering, plant and construction engineering, asset information management and engineering process support.