The 6,500 sq ft facility will serve as a major hub for innovation for clients based in the region, LTIMindtree said in a regulatory filing on Wednesday. North America currently makes up 70% of the company’s client base.
The new centre “is intended to foster stronger collaboration with the energy and oil & gas companies that leverage LTIMindtree’s technology solutions and services to grow their businesses,” LTIMindtree said.
Top Indian tech services firms such as Tata Consultancy Services (TCS), Infosys, and Wipro have also set up innovation and delivery centres in Texas.
LTIMindtree’s innovation hub is located alongside others, in the northwest Houston region. The facility will be used to develop artificial intelligence (AI), digital transformation, and environmental, social and governance (ESG) solutions.
“The area is one of the fastest growing technology hubs with an excellent talent pool and a strategic location that enables us to serve clients across industries,” said Sudhir Chaturvedi, president and executive board member at LTIMindtree.
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The company will also host joint innovation workshops and design-thinking sessions at the facility, which will also serve as a training site to upskill talent in the company as well as clients on next-generation technologies and solutions.LTIMindtree has secured several multi-year projects in the past quarters including its largest-ever deal of over $200 million from a US-based manufacturer.
For the September quarter, LTIMindtree posted a 7.7% year-on-year (YoY) and 10% quarter-on-quarter (QoQ) increase in consolidated net profit at Rs 1,251 crore.
Revenue for the quarter grew 5.9% YoY and 3.2% QoQ to Rs 9,432.9 crore.
September quarter growth was led by the banking and financial services segment, which saw bank clients spending on regulatory and compliance related work and less customer facing roll-outs, especially in North America.
