L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, announced that it has been recognized as a Global Preferred Engineering Supplier for European multi-national aerospace major Airbus, under its EMES (Engineering, Manufacturing Engineering and Services Strategic Suppliers) program and has been awarded with a multi-year contract.
The result is an outcome of an extensive Airbus Group assessment of LTTS' capabilities and expertise across Engineering, Manufacturing Engineering and Customer Services domain conducted over a year. The engagement covers all Airbus divisions, subsidiaries and affiliates.
With the EMES selection, LTTS has entered into a long-term commitment to provide best in class technology and engineering capabilities to the Airbus Group. LTTS has also scaled up operations across Airbus' key geographic locations including Toulouse (France), which is poised to become the main R&D Centre of Excellence (CoE), serving LTTS' wide aerospace customer portfolio, along with LTTS' strong talent pool of 17,000+ engineers operating out of India and leveraging conventional and digital expertise.
LTTS has been a strategic supplier with Airbus global and its India subsidiary for more than a decade, providing engineering services across verticals like engineering, avionics and digital. Last year, LTTS was also selected by Airbus to provide technology and digital engineering solutions for Airbus' Skywise platform as part of the 'Skywise Partner Program'. Under this program, LTTS is supporting Airbus's global customer base of airlines.
LTTS' offerings to the aerospace sector encompass a wide spectrum of services including Aero Structure & Systems Design, Manufacturing Engineering, Avionics and Software Development, Aero Engine Design, ATM solutions and Airlines & MRO solutions engulfed by its digital solution portfolio which caters to all phases of the aircraft lifecycle.
Amit Chadha, CEO and Managing Director at L&T Technology Services said, "Airbus Group is our esteemed customer with whom we have had a decade-long relationship which is further strengthened by our selection as an EMES3 supplier. We are delighted to be selected and look forward to #EngineeringTheChange for Airbus and its ecosystem. The latest empanelment is a true reflection of LTTS being a focused technology organization with a strong engineering DNA stemming from the parent L&T group".
Shares of L&T Technology Services Limited was last trading in BSE at Rs. 4541.40 as compared to the previous close of Rs. 4533.90. The total number of shares traded during the day was 17021 in over 3291 trades.
The stock hit an intraday high of Rs. 4570.00 and intraday low of 4425.05. The net turnover during the day was Rs. 77078164.00.