Transcript of Q2 FY27 Earnings call held on October 19, 2026, is attached.

L&T Technology Services Limited A.M. Naik Tower,6th Floor, L&T Campus, Gate No.3, Jogeshwari-Vikhroli Link Road, Powai, Mumbai-400072. www.ltts.com October 25, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex Dalal Street, Bandra (East), Mumbai – 400 051 Mumbai - 400 001 NSE Symbol: LTTS BSE Scrip Code: 540115 Dear Sir/Madam, Subject:Transcript of Q2 FY27 Earnings Conference Call held on October 19, 2026 Pursuant to Regulation 30 and 46 read with Clause 15 of Para A of Part A of Schedule III of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the transcript of Q2 FY27 Earnings Conference Call organized by the Company on October 19, 2026. The above information is also available on the website of the Company at https://www.ltts.com/investors/financial-information. Kindly take the above information on record. Thanking You, Yours sincerely, For L&T Technology Services Limited Prasad Shanbhag Company Secretary & Compliance Officer (M. No. A 30254) Encl: As above Registered Office: L&T House, N. M. Marg, Ballard Estate, Mumbai - 400 001. INDIA CIN: L72900MH2012PLC232169 Tel: +91 22 6892 5257 Fax: +91 2267525858 L&T Technology Services is a subsidiary of Larsen & Toubro Limited L&T Technology Services Q2 FY27 Earnings Conference Call Transcript For the Earnings Call held on October 19, 2026, 17:30hrs IST MANAGEMENT: MR. AMIT CHADHA – CEO & MD, MR. ALIND SAXENA – EXECUTIVE DIRECTOR & PRESIDENT, MR. RAJEEV GUPTA – EXECUTIVE DIRECTOR & CFO, MR. MUNJAY SINGH – CHIEF OPERATING OFFICER, MR. SANDESH NAIK – HEAD, INVESTOR RELATIONS Page 1 of 19 L&T Technology Services Limited October 19, 2026 Disclaimer: Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. L&T Technology Services Limited (LTTS) does not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf. Moderator: Ladies and gentlemen, good day, and welcome to the Q2FY27 Earnings Conference Call of L&T Technology Services Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Sandesh Naik, Head of Investor Relations. Thank you, and over to you, Mr. Sandesh. Sandesh Naik: Thank you, Danish. Good evening, wishing you and your family a happy festive season. I am Sandesh and welcome you all to the earnings call of L&T Technology Services for the second quarter of FY27. Our Financial Results, Investor Release and Press Release have been filed on the stock exchanges and are also available on our website, www.ltts.com. I hope you've had a chance to go through them. This call is for 60 minutes. We will try to wrap up the management remarks in 20 minutes and then open up for Q&A. The audio recording of this call will be available on the website approximately 1 hour after the call ends. With that, let me introduce the leadership team present on this call. We have with us Amit Chadha – CEO and MD; Alind Saxena – Executive Director and President; Rajeev Gupta – Executive Director and CFO; and Munjay Singh – Chief Operating Officer. We will begin with Amit providing an overview of the company performance and outlook followed by Rajeev, who will walk you through the financial performance. I now invite Amit for his opening remarks. Amit Chadha: Perfect. Good evening, everyone. I thank you all for joining the call on this last day of Navratri and wish you and your families a very happy Navratri and Dussehra. With our investments in EI and diversified portfolio, we are addressing a broader market with our customers, resulting in accelerated sequential growth across revenue, profitability, large deals and AI revenue. Large deal wins from earlier quarters are converting into revenue, and we are continuing to have a robust pipeline of the same. Page 2 of 19 L&T Technology Services Limited October 19, 2026 Let me move to key highlights of quarter two. • Revenue was $317.1 million, up 2.7% sequentially and 4.8% year-on-year in constant currency on a continued operations basis. • EBIT margins improved 60 bps quarter-on-quarter to 16.3%, delivering ahead of timeline on our aspiration for mid-16% EBIT levels. • Large deal TCV was at $203 million across segments with over 50% of them being AI-led wins. Both order backlog and pipeline are up year-on-year. • Sustainability continued to grow and delivered its strongest growth in the last 6 quarters. • Mobility sustained its growth momentum and tech remains steady, with gross margins improving across all segments. • We completed the divestment of our SWC business on schedule, giving us a sharper and more focused portfolio. We would like to recognize our SWC employees for their amazing work and wish them all the best in their journey. Moving on to EI, which is the central part of our strategy. • EI has an annualized led revenue of $120 million for us in this quarter. • Our deep domain expertise, proprietary AI tool kits and a growing ecosystem of academia and industry partnerships are expanding our addressable market and creating new revenue opportunities. • LTTS's EI strategy spans across 3 areas, EI for Engineering, EI for Products and EI for Manufacturing and Operations. We made progress across all these 3 areas in the last couple of quarters. • EI for engineering, as the V model moves to a W model, we are embedding EI across the engineering life cycle through a human plus agent delivery model. • In one of our major engagements, we are helping clients accelerate time to market by 50% with 40% of the code being generated by AI. To date, we have upskilled more than 16,000 engineers, about 67% of our workforce in AI. • EI for products. EI One is our platform of 100-plus EI solutions is gaining client traction. • Our AI patent filing crossed 253 this quarter, taking total patent count across the company to 1808. • EI for Manufacturing and Operations, we launched a new EI lab in partnership with NVIDIA to build and deliver next-gen physical AI native applications across manufacturing, robotics and supply chain. • We conducted multiple AI readiness workshops or clients in collaboration with MIT Media Labs and expanded our partnership ecosystem will include Cognite, Anthropic, NVIDIA and Databricks. • Innovation remains central to our long-term agenda with a focus on frontier applied research and emerging technologies to address evolving market needs. Page 3 of 19 L&T Technology Services Limited October 19, 2026 Looking ahead. • Our Farm Program will connect deep tech start-ups with clients to accelerate innovation and bring in new technologies to the market. • The LTTS distinguished fellows program recognizes and empowers technical leaders who drive innovation, create business impact and represent LTTS global industry leaders across forums. Moving on to segmental performance. Mobility • Mobility has delivered a phase of steady growth with revenues up 2.3% sequentially. • Growth came from auto North America, Aero and Rail and Trucks and Off highway. • Auto Europe remained muted, but we believe it should bounce back next year, and we continue to see significant large deals in the pipeline in Europe. • We are working on building capabilities in System Engineering and diversifying with new wage Mobility providers to work on advanced Transportation Platforms and Digital Microservices. • Aerospace continues to grow strongly as clients continue to expand production and moderniz [Showing first 8,000 characters — download PDF for full document]