L&T Technology Services (LTTS), an IT-led product and process engineering company and part of $16 billion L&T Group, has set up an engineering centre in Jerusalem.
L&T Technology Services President - Sales & Business Development and Member of the Board Amit Chadha said, "We have hired 100 technology talents at the facility. It is primarily focused on our initiatives in cybersecurity, especially for the internet of things (IoT) vertical."
The facility became operational during the first quarter of the current fiscal.
He said the centre is also helping the company in developing complex SQL standards. SQL is a domain-specific language used in programming and designed for managing data held in a relational database management system.
LTTS is focusing on security because the company is coming up with the various solution for Internet of Things (IoT) and data analytics. Cybersecurity Ventures predicts global cyber security spending will exceed $1 trillion between 2017 and 2021.
The company currently operates six centres in India and they cater to clients across the globe, including three in US and two in Germany. The company employs 11,532. It has 230 active clients in North America generating the majority of revenues.
LTTS registered net profit of Rs 123 crore during the second quarter ended September 2017 registering a growth of 25.5% on a quarter-on-quarter (QoQ) basis. According to the company, it is primarily due to 84% QoQ surge in other income. The growth in revenue is primarily due to jump in telecom business, which went up 32% on a quarter on quarter basis.
