Larsen & Toubto Infotech

VIEWPOINT

POSITIVE

CMP	:	Rs1,749

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Larsen & Toubro Infotech

Strong growth momentum to continue

• We retain our Positive view on L&T Infotech (LTI) and expect it to deliver 17-19% returns over the next 10-12 months.
• LTI is well placed to capture the digital opportunity by aligning its capabilities to the enterprise’s digital transformation activities.
• With strong deal wins and pipeline along with a marquee client base, LTI would continue to deliver industry-leading revenue growth in FY2019E and beyond.
• We continue to like LTI given its strong return ratios, robust FCF generation profile, favourable delivery mix and a strong management bandwidth.