L&T aims $1 billion revenue from L&T Nxt in five to seven years
1st Apr 2019

Larsen & Toubro (L&T) is aiming more than $1 billion revenue from its newly launched new-age technology platform L&T Nxt in the next five to seven years.  The L&T Nxt initiative will focus on the areas of artificial intelligence, internet of things (IoT), virtual reality, augmented reality, geospatial solutions as well as cybersecurity.

L&T has made an offer to buy up to 66 per cent stake in IT firm Mindtree for around Rs 10,800 crore. It has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha’s 20.32 per cent share in Mindtree and has also placed an order with brokers to pick up another 15 per cent of the company shares from the open market.

L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over $18 billion in revenue.