ltimindtree, debashis chatterjee, mindtree ceo, mindtree
ETtechLTIMindtree, the combined entity formed following the merger of Larsen and Toubro Infotech (LTI) and Mindtree, will focus on real estate, cost and revenue synergies over the long term, its top executive said.
The company, which has become India’s fifth largest IT service provider by market capitalisation following the amalgamation, may seek to rationalise real estate in case of duplication within the same cities, but for larger cities like Bengaluru, it would focus on setting up more satellite offices over the long term, chief executive Debashis Chatterjee told ET.
The midcap IT service providers from the L&T Group stable said on Monday that they had received the necessary approvals to operate as a single, merged entity.
“Real estate is only one aspect of synergies, but there are also revenue synergies and cost synergies… you don’t need two facilities in the same city, side by side. Revenue synergies will be more focused in the initial days whereas real estate synergies will happen over a longer period,” said Chatterjee.
The company was not considering relocating employees but would seek to expand further in tier 2 locations, he said.
“We have centres in locations like Coimbatore and Kolkata. As much as possible, we don’t want people to change cities and will continue with the strategies the two companies had. But we will also look at opportunities where we can rationalise real estate, which will happen over the next several quarters,” he said.
The company is considering more satellite offices in Bengaluru to further reduce commute times.
LTIMindtree will also stick to existing hiring plans; however, hiring of freshers will likely be delayed due to integration processes, said Chatterjee.
The company has announced a new management structure that includes executives from both companies.
Venugopal Lambu (Mindtree) and Sudhir Chaturvedi (LTI) will head markets for the new company. Vinit Teredesai (Mindtree) has been appointed its chief financial officer and Nachiket Deshpande (LTI) as the chief operating officer.
“The hiring plans for the individual companies are now combined into one single company’s hiring plans. The hiring plans typically depend on the overall pipeline of demand that we have and the kind of growth that we are chasing. So, as of now, I don’t think there is any significant change to that plan that we had as individual companies,” he added.
It will have more clarity on these plans during the quarterly results.
“…specific numbers may change again depending on the scenario, and there could be a little delay in some cases, but at an overall level it stays constant. The philosophy is very clear that going to campus is an integral part of our overall growth strategy and we are not going to dishonour any offers,” Chatterjee added.

TECH NEWS RELATED

TikTok EU ban on the table if social network doesn’t comply with new laws

TikTok is one of the most popular social networks out there. But TikTok is also a cause of concern for western governments that worry about the company’s ties to the Chinese government. TikTok can’t run on most devices the US government issues, and there has been talk of a ...

View more: TikTok EU ban on the table if social network doesn’t comply with new laws

Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Samsung Display via The Verge The world of foldable phones is surprisingly stagnant. The Galaxy Z Fold gets a tiny little upgrade every year, and rival phone brands loosely copy Samsung’s homework. But a new Samsung Display prototype called the “Flex In & Out” could turn this narrative on ...

View more: Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Best free sports streaming apps in 2023

Cutting the cord on cable television is something tons of people have done over the past five years. But that hasn’t proven to be the smartest way to continue to watch sports. Whether it comes from premium sports website subscriptions to keep tabs on your favorite players, or even fantasy ...

View more: Best free sports streaming apps in 2023

Avengers 5 might have Ant-Man in it, Quantumania star teases

The first MCU Phase 5 movie will be Ant-Man and the Wasp: Quantumania, the third installment in the Ant-Man franchise and a film with much higher stakes than the previous episodes. The sequel will deliver the MCU’s first Kang (Jonathan Majors) villain after we met a somewhat good He Who ...

View more: Avengers 5 might have Ant-Man in it, Quantumania star teases

Sharing a Netflix Account? Get Ready to Pay For It

DANIEL CONSTANTE/Shutterstock.com Netflix is about to get serious in its efforts to eliminate freeloaders. If you share a Netflix account with family or friends outside your household, get ready to pay for it. A new “paid sharing” system could roll out starting next month, and you’ll have to pay a ...

View more: Sharing a Netflix Account? Get Ready to Pay For It

‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

Asmodee and Repos Production Board game lovers have a wonderful reason to celebrate today. Board game makers Asmodee and Repos Production announced their latest collaboration: 7 Wonders Edifice, an expansion to the popular board game 7 Wonders. The game launches on February 24th for $29.99. 7 Wonders: Edifice adds ...

View more: ‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

T-Mobile Kicks Off 2023 With Another Data Breach

r.classen / Shutterstock.com In a press release, T-Mobile confirms that it detected a data breach in its systems on January 5th. A “bad actor” managed to steal personal information (but not financial data) from around 37 million customers. This is the eighth T-Mobile data breach since 2018. The hacker ...

View more: T-Mobile Kicks Off 2023 With Another Data Breach

Apple appeals to UK competition watchdog investigation about mobile browser dominance

Apple has filed an appeal against the UK’s competition watchdog regarding its dominance of mobile browsers in the cloud gaming market, reports Reuters. The Competition and Markets Authority started investigating this dominance by the Cupertino firm and Google. Lawyers representing Apple believe the investigation should be reviewed as CMA ...

View more: Apple appeals to UK competition watchdog investigation about mobile browser dominance

Galaxy S23 Ultra release date and specs leak finally reveals everything about the new model

WhatsApp for iOS rolling out the ability to create a chat with yourself

Amazon Prime Music Unlimited changes streaming prices, now matches Apple Music

Deadpool 3 and Secret Wars to feature Fox’s X-Men, according to Marvel insider

Report: OLED iPad Pro still on track for 2024 release, 2026 for MacBook Pro

How to negotiate over practically anything

HomePod 2 praised in exclusive hands-on before launch

M2 Pro MacBook Pro Amazon preorder deal gives you $50 off

What “choice” means for millions of women post-Roe

Singapore FinTech firm Pilon secures $5.2M seed funding led by Wavemaker Partners

Capital Square Partners and Basil Technology team up for $700M tech fund in Asia

This feel-good movie about man’s best friend is dominating Netflix

OTHER TECH NEWS

Top Car News Car News