Larsen & Toubro Infotech (LTI) said it will be hiring 4,500 freshers this year compared to 3,000 in the last year.
LTI added 2,000 people in the last quarter and 2,300 people net this quarter.
“We have a lot of confidence when we commit to these numbers because our entire assets are our employees. We will continue to be in the leaders’ quadrant of growth given our exit velocity and deals pipeline,” Sanjay Jalona, CEO and MD, LTI told BusinessLine.
The company is looking to hire more locally in its stronger global markets. “We invest in the geographies we operate in. We increased offshoring. We bring more value for every dollar the customer spends. If there is somebody with 30 percent onsite and we are 18 percent, automatically for the same dollar we can provide a lot more to the customer,” Jalon said.
“We have invested heavily in hiring local talent. We have created local geography-based development centres. We have done acquisitions too which helped us find more people in Europe and the US.”
The company’s revenue over the past five years in dollars has been growing at a CAGR of 13.5 percent and more than doubled its profit in the same period. LTI’s net profit rose 19.13 percent for Q1FY22 to Rs 496.3 crore, though it dipped by 8.97 percent on a quarter-on-quarter basis.
The revenue from operations grew 17.4 percent to Rs 3,462.5 crore in Q1FY22. It surged 5.91 percent quarter on quarter from Rs 3,269.4 crore in Q4FY21.
The company’s performance came on the back of several big-ticket deal wins in the Middle East, Europe and North America.