L&T Technology Services Ltd

- Capitalization of a new dedicated facility in Baroda for LTTS, contributing to increased depreciation (~₹95 crores per quarter going forward) (Page 14). - Strategic investments in AI-first delivery model encompassing GenAI, Agentic AI, and Physical AI, including multimodal AI, AI reasoning, and Edge AI (Page 6). - Investment in proprietary AI platforms like Qguard.ai, FusionWorld.ai, PLxAI, AiNexus, GENIQ, and TrackEi to drive automation and intelligent decision-making (Page 6). - Investment in humanoid robotics for manufacturing environments targeting repetitive, precision-driven tasks, advancing toward autonomous intelligent factories (Page 6). - Augmentation of leadership with new segment heads and a large deals head, enhancing organizational depth and readiness for next-level growth (Page 6). - Continued pre-investment in technology and expanding large deal pipeline, especially in Sustainability and Tech segments (Pages 5, 14, 21).

- LTTS aspires for double-digit revenue growth in FY26, driven by a strong order book and large deal wins. - Growth acceleration is expected to be gradual rather than sudden, maintaining mid-16% EBIT margins by Q4 FY27 to Q1 FY28. - Large deal wins, especially in Sustainability (highest margin segment), and ramp-up in Mobility including Automotive, Trucks & Off-Highway, and Rail are key growth drivers. - AI-led delivery improvements and operational efficiencies across all functions will support margin and revenue growth. - Sales teams have been strengthened with six US-based segment teams and regional teams globally to boost sales penetration. - Clients increasingly favor longer-duration, multi-department deals, indicating larger and more strategic engagements. - Growth in MedTech and Pharma segments is seen, particularly in the US, Japan, and Europe. - Furlough patterns and wage hikes are considerations but expected to be absorbed without impacting H2 margins significantly.

- LTTS aspires for double-digit revenue growth in FY26, aiming for $2 billion revenue medium-term (Page 8). - Growth expected to be gradual, mid-16% operating margin target maintained without hinging solely on growth acceleration (Page 21). - 200-300 bps margin improvement anticipated sequentially between Q4 FY27 and Q1 FY28, influenced by the end of strategic client support and large deal wins in high-margin Sustainability, with Mobility profitability expected to improve by Q4 FY26 (Page 21). - Margin improvement expected despite upcoming wage hikes; H2 margins to be better than H1 (Page 15). - Intelliswift integration showing both revenue growth and margin improvement quarterly, aiming for Tech-like segment margins over next few quarters (Page 18). - Early monetization from AI product licenses contributes about 1% of trailing 12-month revenue, with a medium-term goal of 5% (Page 7). - Overall, improved revenues, margin expansions, and continued large deal wins underpin future earnings growth.

- The order book has grown, indicating an increasing backlog (Page 18). - Ramp-ups for new deals are gradual unless it's a rebadge; for example, a $100 Mn Oil and Gas win 5 years ago continues to grow, now at $50 Mn ARR (Page 18). - Average duration of deals is around 4+ years, with some deals extending up to 7.5 years (Page 16). - The company has seen consistent large deal wins of about $200 Mn per quarter recently, with Q2 FY26 achieving $300 Mn in large deal wins (Page 16, 8). - There is confidence of at least $200 Mn deal wins in Q3 FY26, with a potential for $300 Mn (Page 16). - The large deals include both net new business (~80%) and renewals (~20%) (Page 15).

The provided excerpt from the Q2 FY26 Earnings Call does not mention any current or planned fundraising activities through debt or equity. Key highlights related to financials and growth strategies focus on: - Double-digit revenue growth aspiration for FY26. - Investment in AI-first delivery models and leadership strengthening. - Strategic focus on profitable and sustainable growth. - Margin improvements and cost efficiencies, including SG&A rationalization. - No disclosure or discussion of new debt or equity fundraising. Therefore, based on the available information, there is no indication of any new fundraising plans through debt or equity at present or in the near future.