L&T Technology Services CEO Says Recovery Will Take Time

0
832
L&T Technology Services
L&T Technology Services

L&T Technology Services CEO Says Recovery Will Take Time

To recover from the impact of the Covid-19 pandemic certain industry sectors may take up to nine months, said Keshab Panda, CEO of L&T Technology Services.

He said, “This will continue in Q1 and some segments will start picking up in the second quarter while others will take longer. Telecom and healthcare will start seeing growth, while automotive will take a few more quarters. Chemicals and oil and gas could take up to 3-4 quarters to start growing”.

According to Keshab Panda, industrial products and oil and gas would take longer to pick up than others. However, once clients redraw their business plans, LTTS will be able to expand its scope of the engagement, he added.

L&T Technology Services has doubled down on cost-saving and cash flow measures.

L&T Technology Services is also expanding its smart campus and Internet of Things framework. Intelligent Building Experience Management Systems (i-BEMS) where the workforce can be protected from outside risks and infections.

It is also in talks with the senior management at clients to understand how it can work with them. “This is an opportunity for us and more work will start moving out of China to India,” Panda said.

As the L&T Technology Services moved employees to work from home in March. But a 100% WFH model is not feasible. “Unlike IT services, all the work cannot be done remotely. A lot of the hardware and R&D work has to be done in a lab and we also do a lot of future sensitive engineering design work, which is sensitive and confidential,” he said.

As Covid-19 hits the global economy hard, the company refrained from giving any growth guidance for the ongoing fiscal. However, Panda said recovery would be faster for the firm once the severity of the pandemic came down.

Check out Latest L&T Recruitment: Click here

Earn More Than 1 Lakh Per Month, Join One of the world’s leading Online 1XBetting, Click At The Bottom Side of Page To Starts Earning.

Join Whatsapp Group of Daily Jobs Updates for 2010-2021 Batch: Click Here

Why You’re Not Getting Response From Recruiter?: Click here

Subscribe Our Telegram Channel for Interview Questions: Click here

Capgemini Latest News: Up To 30K+ Employees Will Be Hired: Click here

COVID-19 Live Tracker India & Coronavirus Live Update: Click here

CoronaVirus: Facts, Symptoms, Prevention, Causes, Treatments: Click here

Cognizant Latest News: Up To 20K+ Employees Will Be Hired: Click here

Feel Like Demotivated? Check Out our Motivation For You: Click here

How To Get a Job Easily: Professional Advice For Job Seekers: Click here

Best Site For Edit A Video Online: Clipchamp: Click here

WhatsApp Video Call Update Possible To Call Up To 8 Peoples: Click here

Best Sites To Watch Free Movies Streaming Online in 2020: Click here

LEAVE A REPLY

Please enter your comment!
Please enter your name here