LTM Ltd Business Overview - SOIC x StockScans Report

as of Jul 2026

LTIMindtree-now LTM-began as the in-house technology arm of engineering conglomerate Larsen & Toubro, and it still builds software the way its parent builds bridges: by assembling deep domain expertise, large-scale program management, and a conviction that the real money is in making the whole thing work together, not just writing the code. It became India’s fifth-largest IT services firm overnight through the 2022 merger of LTI and Mindtree, then in 2026 rebranded to LTM and reorganized its entire operating model around a single idea-that every service it sells, from keeping a bank’s lights on to reimagining a factory floor, should be delivered through an AI-native platform called BlueVerse. That recurring pattern-buy or build a capability, wire it into the BlueVerse ecosystem, and sell it as an outcome rather than an effort-is the logic that now connects its three lines of business and its 751 clients across 42 countries.

Business segments

Three AI-centric engines built on a shared platform-one that runs clients’ operations, one that rewires their businesses, and one that sells AI itself-each designed to turn the cash flows of the previous era into the capabilities of the next.

1. iRun: the managed-services engine that keeps the lights on

It takes over a client’s application, infrastructure, and security operations and runs them with AI copilots and autonomous agents, shifting the deal from billing for hours to getting paid for outcomes.

2. iTransform: the consulting and implementation engine that rewires enterprises

It unites enterprise platforms, data, digital experience, and industrial AI under one roof, so a client can modernize its SAP estate, build an e-commerce front end, and connect its factory floor without stitching together a dozen vendors.

3. Business AI: the engine that sells AI itself

It builds secure, enterprise-grade AI platforms for clients and has already deployed more than 1,500 AI agents, while using the same tools to run its own business-so every internal deployment is a live demo for the next sales pitch.

Group structure and partners

LTM is 68.73% owned by Larsen & Toubro, and it uses the parent’s balance-sheet credibility to consolidate subsidiaries, strike joint ventures in the Middle East, and acquire a €469-million-revenue European digital-engineering business in a single deal.