L&T Finance and LTIMindtree showcased their digital transformation, cutting-edge innovations and solutions at Global Fintech Fest (GFF) 2023 hosted in Mumbai on 5-7 September.
Jointly organised by the National Payments Corporation of India, the Payments Council of India, and the Fintech Convergence Council, GFF is one of the world’s largest fintech conferences. This time, it brought together over 65,000 delegates from around the world.
L&T CMD Mr S N Subrahmanyan (then CEO & MD) delivered the keynote address at the event on “Engineering the Fintech Future: Accelerating Innovation and Transformation”.
L&T Finance’s CEO & MD Mr Dinanath Dubhashi spoke on the importance of data accessibility in driving financial inclusion in a thought-provoking trilogue on “Democratising Data – A Path Towards Inclusive Growth”, while its COO Mr Sudipta Roy participated in panel discussions on “Digital Transformation War Stories: Leading from the Trenches” and “Shaping the Future of Technology.”
LTIMindtree’s Chief Delivery Officer Mr Ram Khizamboor contributed to the discourse on “Open Banking Strategies - Opening Up New Channels for Collaboration and Product Innovation.” His insights highlighted the significance of collaboration in driving innovations and new technologies.
L&T Finance was conferred the ‘Champions of ESG’ (Environmental, Social, & Governance) Award at the event in recognition of its commitment to sustainability and responsible business practices.
Global meet in Dubai marks L&T's key role in Saudi oilfield expansion
To promote excellence in hydrocarbon projects and augment collaboration, L&T Energy Hydrocarbon (LTEH) and the Consortium of Subsea7 jointly hosted in July the 3rd Global Interface Meeting (GIM) of the Zuluf Arab Heavy Increment Programme in Dubai.
Organised from 17 - 20 July, the four-day event provided a dynamic platform for renowned professionals and key players from the hydrocarbon sector to address the challenges faced by the industry. They shared visionary approaches, emphasising the significance of forward-thinking strategies in navigating an ever-evolving industry landscape.
Insights were shared by dignitaries like Mr Hisham Al-Derhalli (Director, Mega Projects – Saudi Aramco) and Mr Marc Girodroux (VP, Middle East – Subsea 7).
Mr Parthasarthi Chatterjee (EVP & Head – Offshore, LTEH) shared his views on Aramco’s capital projects. He highlighted the importance of fostering a culture of teamwork, respect, and diversity among the stakeholders for seamless programme completion.
Underscoring collaboration, technological advancements and sustainable practices as the driving forces behind the industry’s progress, the discussions ignited a renewed sense of purpose, driving the pursuit of excellence and innovation.
The event witnessed the forging of collaborative partnerships between key industry players, contractors and technology providers. The participants expressed their commitment to translating the insights gained from the meeting into tangible actions.
LTEH is executing a significant part of Aramco’s Zuluf Field Expansion project that seeks to augment the capacity of Zuluf oilfield in Saudi Arabia by 600,000 barrels per day. The project is expected to be completed this year.
L&T enlightens NICMAR students on latest industry trends and opportunities
In continuation of the endeavour to strengthen brand L&T and in turn, attract top talent, a team from L&T addressed an industry- academia exclusive interactive session on Latest Technological Trends in the Construction Domain at NICMAR University in Pune on 13 September.
Over 950 students attended the event, taking keen interest in emerging technologies and real-world perspectives.
Dr C Jayakumar (EVP & Head – Corporate HR, L&T) presided over the session along with Mr Niranjan Simha (Advisor - Strategic Initiatives, L&T) and Mr J Kabilan (VP & Head - HR, Divisional Corporate, L&T Construction). Accompanying them on the dais were NICMAR’s Dr Ms Sushma S Kulkarni (Vice Chancellor), Dr Jonardan Koner (Professor & Dean – Admissions, Placement & Industry Relations), Dr Anil Agarwal (Dean – Academic Affairs).
Dr Jayakumar spoke on L&T’s remarkable journey across diverse sectors and the Company’s extraordinary digitalisation initiatives to achieve high productivity and cost- effectiveness. He highlighted the importance of making the right career decisions.
Mr Kabilan threw light on the significant role that L&T plays in the construction industry and the initiatives that the Company undertakes to facilitate on-the-job learning and development. Mr Simha shared his extensive experiences garnered over an illustrious career with L&T and shared with the students important tips for success.
The session also included deliberations on technical topics by L&T’s domain experts. Mr Shamim Ahmed (DGM – Civil) spoke on execution of India’s longest railway tunnel project on the Rishikesh-Karnaprayag route, Mr E M Sreenivasa (Project Manager) spoke on the construction of Mumbai-Ahmedabad High Speed Rail (Bullet Train) Corridor, and Mr Sasidhar Tadigotla (JGM – Design, B&F Fast) spoke on high-speed construction using 3D printing.
A lively Q&A session saw keen participation from the students. After the event, the teams from both L&T and NICMAR discussed ways to enhance the industry-academia collaboration.
Fairness is the key to employee retention.
L&T has always viewed people as its prime movers. Decades ago, L&T co-founder Henning Holck-Larsen mused: “A company may have machinery and buildings – but without people, it’s all nothing. People are our only real assets”.
In keeping with this principle ingrained in the Company’s ethos, as many as 41 senior HR leaders and business executives from across L&T huddled together in a workshop in September to explore ways to drive change management exercises, and in turn, enhance employee experience.
The workshop – titled Facilitating Generative Change – was held at AMN Tower in Mumbai on September 11. Ms Peggy Holman, an independent consultant and recognised leader in people management processes from the US, conducted the workshop.
Making the opening remarks, Dr C Jayakumar (EVP & Head – Corporate HR, L&T) highlighted that the Company is in high demand for talent because of the exceptionally high order inflow in the recent times.
He said that the Great Place to Work (GPTW) survey conducted earlier this year has revealed that ‘pride’ and ‘credibility’ are L&T’s strong points. Laying emphasis on talent retention, he underscored that all efforts now should be driven towards further strengthening equity, impartiality and justice.
Introducing the participants to the generative change concept, Ms Holman used the appreciative inquiry approach to unearth what is working well in generating fairness, trust, and transparency. She also familiarised them with the concept of Open Space that can help augment fairness quotient in an organisation.
The day-long workshop has equipped the 41 participants to drive strategically vital changes in their respective verticals to enhance the satisfaction level of employees – the prime movers of L&T.
L&T’s CSR Conclave 2023 reinforces commitment to building social infrastructure
Since its inception 85 years ago – long before Corporate Social Responsibility (CSR) became mandatory – L&T has been quietly transforming the lives of the disadvantaged.
Today, the focus is on building India’s social infrastructure and for this L&T undertakes CSR projects in water & sanitation, education, health, and skill-building. Several L&T verticals have their own CSR teams, all of which work towards the common goal.
To reinforce the commitment and ensure synergy, L&T’s CSR department in August hosted a two-day CSR Conclave 2023, bringing together the CSR coordinators from across L&T. Also in attendance were the principals of L&T’s Construction Skills Training Institutes and the Skill Training Academy that play a crucial role in imparting training to disadvantaged workers.
Hosted at the Leadership Development Academy in Lonavala on 18-19 August, the conclave was themed on ‘Creating Impact – Beyond Compliance’. It facilitated enlightened deliberations by CSR leaders, experts, and change-makers.
In an interactive session, L&T CFO Mr R Shankar Raman offered valuable insights and highlighted the scope to align CSR strategies with L&T’s overall vision. Mr Anup Sahay (Head – Corporate Strategy and Special Initiatives, L&T) and Ms Mabel Abraham (JGM – Corporate Social Initiatives, L&T) touched upon the Company’s focus on CSR initiatives and the purpose of the conclave.
External speaker Mr Sourav Roy (CEO – Tata Steel Foundation) underscored the role of evidence in driving social impact, reminding the audience of tangible changes that well-executed CSR initiatives can achieve. Mr Gaurav Bhargava (Associate Partner – Thinkthrough Consulting) expounded the ways to turn visionary CSR goals into practical, lasting change.
The case studies and group exercises that were part of the conclave, fostered collaborative learning. The participants shared insights, exchanged ideas and engaged in a robust discussion, enhancing the collective understanding of effective CSR drives.
CSR Conclave 2023 is a testament to L&T’s commitment to making a meaningful impact on society. It’s a reminder that the purpose of L&T’s CSR goes far beyond mere compliance and aims to create lasting and transformative change in the communities served.
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FOR A BETTER WORLD
CSR Workshop emphasises collaboration for shared social goals
To reaffirm its commitment to social impact and sustainable development, L&T organised a CSR Workshop on 13-15 July. Hosted at the L&T Skill Trainers Academy at Mumbai’s Madh, it was attended by representatives of L&T’s NGO partners.
The event, which revolved around the theme of ‘Building Stronger Partnerships’, was aimed at fostering collaboration, sharing insights, and strengthening connections in the pursuit of shared social goals.
The workshop commenced with lamp lighting by Mr Mukund M Chitale (Chairman – CSR Committee, L&T), Mr Sivaram Nair (Company Secretary & Compliance Officer, L&T), Mr K Ramakrishnan (Chief Executive - Skill Development Mission, L&T), Mr Anup Sahay (Head – Corporate Strategy & Special Initiatives, L&T), Mr Harish Daware (DGM – Watershed Organisation Trust) and Dr Ashwini Kotrashetti (Associate Professor & Dean – Don Bosco Institute of Technology).
Ms Mabel Abraham (JGM – Corporate Social Initiatives, L&T) set the context for the event. Delivering the opening remarks, Mr Sahay underscored the significance of partnerships in driving meaningful change.
The workshop underscored the importance of collective action in driving social change and reiterated L&T’s position as a responsible corporate leader in championing the cause of sustainable development.
Several distinguished speakers shared their thoughts on the relevance of responsible corporate citizenship, exploring crucial topics like water budgeting & balancing, STEM education, skilling initiatives through L&T’s Construction Skill Training Institutes and social stock exchange.
Mr Vijay Ganapathy (Co-Founder and Partner – Thinkthrough Consulting), conducted a session on articulating social impact, encouraging participants to measure and maximise their contribution to society.
The participants gained valuable insights on L&T’s commitment to CSR engagement, initiatives in education, healthcare, and also the reporting and communication strategies, internal financial and procurement processes, etc.
The workshop reflects L&T’s vision to co-create a better world and inspires all stakeholders to come together in the pursuit of a brighter, more sustainable future.
A conclave, jointly hosted by L&T, explores new ways of project management teaching
In an ever-evolving business and technology landscape, the essence of project management is undergoing a profound transformation. To explore the paradigm shift in teaching this crucial discipline, the Project Management Institute (PMI), L&T Institute of Project Management (IPM) and L&T EduTech jointly hosted a conclave on ‘Academic Innovations in Project Management’ on 1 September.
The conclave was hosted at L&T Convention Centre at Manapakkam in Chennai in conjunction with the PMI South-Asia Conference. Over 100 senior educators from leading institutes participated in the conclave.
Dr Anbuthambi B (Head – Strategy & Partnerships, L&T EduTech) explained the significance of L&T joining hands with PMI in hosting the arterial conclave. Dr C Jayakumar (EVP & Head – Corporate HR, L&T) underscored that with L&T’s 85 years of project management experience, PMI’s academic excellence and L&T EduTech’s vision to build readily employable talent, the conclave would propel the inculcation of new-age curriculum and progress in project management.
Stating that PMI prepares organisations and individuals to work smarter and maximise impact in an ever-changing dynamic world through various initiatives, Mr Uday Yedur of PMI India pointed out that, as the world’s leading authority on project management, PMI empowers people to make their ideas a reality through global advocacy, networking, collaborative research, and education.
In today’s dynamic and technology-driven business environment, the integration of digital skills in project management has become an imperative. According to a recent survey conducted by PMI, a staggering 87% of high- performing organisations believe that digital proficiency directly contributes to project success.
The era of digital project management calls for new skills – data science, innovative mindset, security and privacy knowledge, legal and regulatory compliance, ability to make data- driven decisions, and collaborative leadership.
Project leaders are embracing a multifaceted approach, combining collaborative platforms, work management tools, and a blend of emerging, hybrid, and traditional methods to deliver results that meet the demands of complex projects.
As the world becomes increasingly digital, the demand for project managers with digital skills will continue to grow. Hence, Project Management faculties are re-evaluating and reinventing their teaching methods to meet the needs of the new age.
The highlight of the conclave was a panel discussion on ‘Digital Age Project Management Skills: Exploring the Paradigm Shift in Teaching.’ The panel comprised luminaries from L&T and PMI’s Academic Advisory Group that include educators from leading academic institutions and industry stalwarts.
The discussion, moderated by Dr Venkata S K D (Associate Professor – IIT Bombay), included panellists like Mr R Ganesan (Head – Corporate Centre, L&T Construction), Dr K N Satyanarayana (Director – IIT Tirupati), Dr K Jain (Professor – IIT Bombay) and Dr K Kesavaswamy (IT, education and HR professional). With decades of experience, they cited examples on how digital skills can be seamlessly integrated into project management courses.
The panellists explored how the transition from knowledge transfer to knowledge co-creation, teacher-centric to learner-centric instruction, and the infusion of digital skills are reshaping the educational landscape. Mr Ganesan remarked that practical industry exposure would enhance students’ decision-making capabilities and prepare them for the challenges of the digital era. Dr Kesavaswamy emphasised the importance of knowledge application in real-world scenarios and explained why students should practice interdisciplinary project management.
Drawing from data-backed evidence and real-world experiences, Prof V T C S Rao (VP & Dean – L&T IPM, and Chairman - PMI AAG) in his keynote address highlighted how the faculties can inculcate digital-age AI/ML tools to make their teaching more effective.
The conclave served as a vital platform for the academia and industry to come together and explore new horizons in project management education.
From opening a new office to forging new partnerships, LTIMindtree is expanding every which way
LTIMindtree (LTIM) has expanded its workplace at the Mindspace SEZ in Hyderabad by taking up four more floors in the building. The new office space was inaugurated on 6 September by Mr Jayesh Ranjan (Principal Secretary – ITE&C, I&C, Telangana) and Mr Vineet Teradesai (CFO – LTIM).
LTIM has over 16,000 staffers in Hyderabad. The new office space is designed to tick the boxes of diversity, inclusivity and sustainability. It is LEED and IGBC-compliant, maximising natural light for a vibrant environment. A range of recreational activities facilitates work-life balance. Live plants add a green vibe to the workspaces.
Cyberthreat ControlLTIM has entered into a strategic partnership with external-threat landscape management platform firm CYFIRMA. This is to enhance the threat intelligence capabilities of LTIM’s XDR platform and help global enterprises identify, evaluate, and manage potential risks and threats.
Through the L&T Innovation Fund, in April this year L&T had invested in CYFIRMA in a pre- Series B round of funding. Leveraging on this investment, the partnership will combine LTIM’s vast domain expertise and market-leading, platform-led approach with CYFIRMA’s external threat landscape management offerings to provide businesses with a complete understanding of their cyber posture.
The combined offering will empower organisations with external threat visibility and equip them with automated detection and remediation using the enhanced XDR platform. With more intelligence infused into the security operations centre, clients can confidently thwart fast-evolving threats presented by sophisticated hacking groups seeking financial gain or advancing geopolitical interests.
Innovative SolutionsLTIM recently launched two industry solutions – AdSpark and Smart Service Operations (SSO) – to accelerate the time-to-market for businesses on the Salesforce platform.
Powered by LTIM and Salesforce, AdSpark will help retailers get a head start in expanding their retail media platforms. It has been designed for the retail industry and offers self-service capabilities, including support for diverse channels such as digital, social, in-store, out of facility (OOF), and print, as well as customer preference-based segmentation and targeting.
It delivers 360-degree real-time campaign performance analytics across all channels and seamless integrations with top Adtech servers. The no-code platform caters to retailer-specific needs and enables retail marketplaces to stay ahead of the market.
On the other hand, SSO combines the power of Salesforce Service Cloud1, including Salesforce Field Service, and the LTIM NxT platform for clients in manufacturing, construction, transport, mining, power, utilities, etc.
The aim is to address common industry priorities such as worker safety and skills, improve efficiency of operations, and process difficult-to-capture and complex data, proactive maintenance of assets using AI and edge processing capabilities. It brings limitless opportunities to solve other related problems and bridge the human experience gap.
Optimising CloudLTIM has partnered with CAST AI, a leading SaaS company that specialises in automated cost optimisation for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure.
The collaboration brings together LTIM’s Infinity platform and CAST AI’s cloud cost optimisation platform to provide enterprises with a complete view of their cloud portfolio.
This will empower organisations to optimise Kubernetes management and costs in a single or multi-cloud environments, without manual intervention. It will also help free up the customers’ time from routine tasks by automating 100% of their cloud-native infrastructure, resulting in increased stability and reduced costs.
To ensure the highest level of preparedness during medical emergencies and prioritise commuter safety, L&T-run Hyderabad Metro has implemented a major cardiopulmonary resuscitation (CPR) and first aid training drive for the metro staffers.
In collaboration with OMC Cares – an Osmania Medical College initiative – Hyderabad Metro conducted as many as 26 training sessions, imparting the life-saving skills to over 2,000 staffers. Participants included station controllers, ticketing staff, security officials, housekeeping personnel, as well as senior officials from L&T Metro Rail Hyderabad Ltd and its operations & maintenance partner Keolis.
Covering a diverse range of critical scenarios, the training equipped the participants with essential skills on ways to handle situations involving tourniquets, seizures, trauma, unconsciousness, and snake bites.
The methodology was both informative and practical, with a mix of classroom instruction and hands-on demonstrations using mannequins.
L&T-SuFin and Dun & Bradstreet entered into an exclusive partnership to jointly conduct Knowledge Sessions for Micro, Small & Medium Enterprises (MSME) across India. The focus is on supply chain and finance for MSMEs. On 24 August, the third session in the series was conducted in Hyderabad.
Mr Vipul Oberoi (Chief Marketing Officer – D&B India) gave an overview of the MSME sector and state of MSMEs in India. Mr Ashish Kaistha (Chief Category Officer – L&T-SuFin) made a presentation on how L&T-SuFin is creating efficiencies in supply chain through digitisation.
Ms Sudeepta Veerapaneni (Partner – Deloitte) spoke on the application of supply chain digitisation by Indian MSMEs.
Representatives from over 35 MSMEs listened in rapt attention to the eminent speakers. The audience was appreciative of the session.