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L&T Infotech’s net profit rises 19.3% to nearly ₹500 crores in Q1

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L&T Infotech’s net profit rises 19.3% to nearly ₹500 crores in Q1

L&T Infotech (LTI NSE -2.98%) reported a net profit of Rs 496.8 crore for the quarter ended June 30, an increase of 19.3% year-on-year.

Revenue increased 17.4% to Rs 3,462.5 crore over the three-month period.

In dollar terms, revenue increased 20.4% year-over-year and increased 5.1% sequentially to $ 470.2 million. In constant currency terms, revenues increased 17.8%.

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“We are pleased to report our best first-quarter sequential growth of 5.1%, driven by overall growth across our verticals, service lines, customer pyramid, and geographies. Our strong portfolio of projects and our continued strong demand ensure future growth, “said Sanjay Jalona, ​​CEO and CEO of LTI.

The company added 2,300 new employees during the quarter, bringing the total workforce to 38,298.

Jalona said that LTI will hire around 4,500 newborns during the year compared to 3,000 last year, indicating higher demand in the vertical.

The new recruits will be primarily in India, where 85% of LTI employees are located.

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The job loss rate for the quarter was 15.2%, compared to 12.3% in the previous quarter.

News Source: EconomicTimes

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Construction Infrastructure

Greater Noida Land hurdle cleared for road linking Knowledge Park 3 with LG chowk

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Greater Noida Land hurdle cleared for road linking Knowledge Park 3 with LG chowk

The Greater Noida authority is set to issue a tender to finalise a contractor to build a 1.5km stretch of a key road connecting LG Chowk to the education hub in sector Knowledge Park 3. The private firm owning the land has agreed to give it away for the road project after 15 years of negotiations. The authority will build a central verge, drainage network, horticulture.

work to beautify the road, which has witnessed frequent road accidents due to its half-built state. The authority will issue a tender to finalise a contractor, approving a budget of ₹31 crore for the project. The road is expected to take six months to build, as the current road is half-built from the education hub to LG Chowk and the other half is not built due to land issues.

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Greater Noida is set to build a bridge across the Hindon river, connecting the education hub road to Noida’s busy areas. The work has been expedited after resolving a land dispute, as the road will witness heavy traffic once the bridge is ready. The authority will build a central verge, drainage network, and horticulture work to beautify the road, which has experienced frequent.

Road accidents due to its half-built nature. Once the bridge is completed, commuters will travel through the road with ease and reach Noida from Greater Noida in five minutes. The bridge and road stretch will alleviate the need for commuters heading towards LG Chowk and Surajpur to traverse the Noida-Greater Noida Expressway up to Pari Chowk, reducing travel.

Distance by at least 10 kms and easing congestion around Pari Chowk The Greater Noida Authority has resolved a longstanding land acquisition issue, paving the way for the construction of a crucial 1.5 km road linking LG Chowk to Knowledge Park 3. This development is expected to significantly alleviate traffic congestion at Pari Chowk.

  • Project Overview: The proposed six-lane road will feature three lanes in each direction, service roads, a central verge, and a comprehensive drainage system. These enhancements aim to improve traffic flow The road is being connected with Noida’s sectors 144, 145, and 146 through a new and do bridge being built across Hindon and enhance connectivity between key educational hubs in the region and reduce waterlogging during the monsoon season.
  • Land Acquisition Resolution: The land, previously owned by Super Cassettes Industries Ltd (T-Series), was a major bottleneck for the project. After extensive negotiations, the company has agreed to provide the necessary land for the road construction. Under the agreement, T-Series will retain 40% of the undeveloped land against external development fees, while the Greater Noida Authority will acquire.
  • Impact on Commuters: The new road is anticipated to benefit approximately 5 lakh people, providing a smoother and more efficient route between Knowledge Park 3 and LG Chowk. This will not only ease daily commutes but also support the region’s growing educational and commercial sectors This initiative reflects the Greater Noida Authority’s commitment to enhancing urban infrastructure.
  • A major hurdle has been cleared for the construction of a crucial 1.5 km road linking Knowledge Park 3 with LG Chowk in Greater Noida. The road aims to ease traffic congestion connectivity in the region, particularly benefiting the educational hubs.
  • The road project, designed to be a six-lane road with three lanes in each direction, will feature service roads, a central verge, and an efficient drainage system. These improvements are expected to enhance traffic flow and reduce waterlogging during the monsoon season, contributing to smoother commutes for the local population.
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

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