LTM shares jump 5% on partnering with Anthropic; here’s what experts say about Q1 performance

At around 12:51 PM, the stock stood at ₹4,196.70 per equity share, marking a 3.95% increase. The scrip has gained 13% in the past week and 9% over the month. However, on a year-to-date basis, it has fallen 31%.

While the scrip hit a 52-week high of ₹6,429.50 on January 19, 2026, it touched a year’s low of ₹3,528 per unit on June 30, 2026.

Partnership with Anthropic

The company, in a regulatory filing dated July 13, stated that it has partnered with Anthropic, the frontier AI company behind Claude, to accelerate enterprise-scale adoption of Claude, Claude Code and Claude Cowork across engineering, modernisation, and business workflows.

LTM will combine Claude, Claude Code and Claude Cowork with its enterprise implementation expertise to help clients move from pilots to production with market-leading productivity, throughput, and quality, it said.

The company will specifically bring this expertise and capability to Banking, Financial Services, and Insurance (BFSI), Hi-Tech, Consumer, and Production Industry domains.

The firm highlighted three focus areas for the partnership, which will comprise LTM BlueVerse, its AI delivery fabric; LTM AI1000, its talent enablement program; and Claude Center of Excellence (CoE).

LTM BlueVerse AI Delivery Fabric, the L&T subsidiary said, will serve as the enterprise implementation layer for Claude adoption, integrating Claude and Claude Code into delivery workflows across AI-led software engineering, application modernisation, agent orchestration, Site Reliability Engineering (SRE), Observability, and Chaos Engineering.

The firm will also scale its AI1000 initiative to train and deploy thousands of Claude-certified architects and Forward Deployed Engineers (FDEs) who can work with clients from assessment and architecture through assessment, implementation, and continuous improvement.

Furthermore, it will establish a dedicated Center of Excellence (CoE) for Claude as the partnership's scale engine, to build reusable skills, agentic minimum viable products (MVPs), reference architectures, and playbooks spanning cloud-native and platform-based applications.

The CoE will provide a governance backbone across responsible use, agent lifecycle, model governance, and data-privacy or residency compliance. It will also keep delivery aligned with Claude's evolving capabilities, the filing read.

Additionally, the partnership will include joint go-to-market initiatives focused on measurable business outcomes, it stated, adding that LTM will also scale internal adoption by embedding Claude, Claude Code, and Claude Cowork into its delivery model to establish consistent adoption patterns and market-leading productivity benchmarks across the software development lifecycle (SDLC), with autonomous learning feedback into the Claude CoE and BlueVerse ecosystem.

Commenting on the partnership, Venu Lambu, CEO and Managing Director of LTM, said: “LTM helps clients accelerate AI adoption and translate AI investments into measurable business outcomes through our partnership with Anthropic. Combining Claude with LTM’s BlueVerse ecosystem, deep domain expertise, technology capabilities, and AI1000 talent initiative creates a powerful foundation for enterprises to embed AI across their business and modernise at scale.”

LTM has been bringing delivery expertise, trained people, and long-standing client relationships across industries, and their customers want to embed Claude into the systems they rely on, said Chris Ciauri, Managing Director of International at Anthropic.

“LTM is embedding Claude and Claude Code in BlueVerse, bringing trusted frontier AI technology to the center of how they do what they do best - help their clients build, modernise, and run their software,” Ciauri added.

Q1 results snapshot

The L&T Group firm posted a 16.9% year-on-year (YoY) surge in its consolidated net profit (attributable to the shareholders of the company) to ₹1,466.3 crore in the first quarter of the 2026-27 financial year (Q1 FY27), compared with ₹1,254.1 crore in the year-ago period.

Its consolidated revenue from operations (INR) stood at ₹11,608 crore during the quarter under review, reflecting a 17.96% YoY growth from ₹9,840.6 crore in the June quarter of the 2025-26 financial year (Q1 FY26).

Its USD revenue grew by 6.09% YoY to $1,223.5 million in Q1 FY27, as against $1,153.3 million in the corresponding quarter of FY26.

Geographically speaking, the company derived 73.9% of its revenue from North America, 15% from Europe and 11.1% from the rest of the world during the quarter.

Segment-wise, LTM’s revenue mix comprised 34% from the financial services business, 26.6% from the consumer segment, 20% from the technology & services business and 19.4% from the production segment.

At an operational level, it recorded an EBIT (earnings before interest and taxes) of ₹1,799.3 crore for the reporting quarter, up 27.9% YoY from ₹1,406.5 crore in the first quarter of FY26.

Its EBIT margin stood at 15.5% in the April-June quarter of the current fiscal year, in comparison with 14.3% in Q1 FY26.

What the CEO said

Commenting on the results, Venu Lambu, CEO and MD of LTM, said: “Our Q1 FY27 performance reflects the progress we have made in executing our AI - centric strategy and our continued profitable growth journey.”

He added that the company’s AI pivot has been producing tangible proof points for clients, visible in the outcomes it has now created and in the size and nature of the engagements it is winning.

“With a strong order book and healthy pipeline across our industry segments, we are confident that our growth momentum will continue to build through the year,” Lambu stated.

Expert views on Q1 results

According to analysts at Nomura, LTM’s growth was led by technology and financial services segments, both in USD terms. Its EBIT margin, which stood at 15.5%, was up 40 basis points (bps) quarter-on-quarter (QoQ), and 130 bps YoY, beating the expectations of 15.2%. The analysts noted that the new CEO’s strategy, with AI as a key focus area, has continued to make progress.

Analysts at Jefferies noted that the Q1 FY27 results were broadly in line with modest expectations. Furthermore, the management's aspiration of 6% growth in FY27 and productivity passthrough being largely behind looks optimistic, they said. The management has cut earnings per share (EPS) estimates by 2-3% to factor in a weaker growth outlook and expects 6% or 9% compound average growth rate in CC revenues or EPS over FY27-29.

However, the company’s inability to add new accounts might weigh on the growth outlook, which in turn should drive further derating, the analysts added.

In a note, analysts at CITI said that Q1 revenue growth was flattish QoQ, with EBIT partly supported by Selling, General, and Administrative expenses (SG&A), which were down by 190 bps YoY and at lows of 10.2% of revenue.

The analysts noted some forward-looking indicators, including a trailing twelve-month (TTM) average total contract value (TCV) growth of over 7% YoY, more than 5% QoQ headcount growth, and confident management commentary about Q2 growth and continued momentum into the second half of FY27.

Additionally, management expects LTM to deliver a 5% compound annual growth rate (CAGR) in organic revenues over FY26-28 and the stock trades at 19.5x FY26 consensus earnings.

LTM has a total market capitalisation of ₹1.24 lakh crore as of July 13, 2026, according to data on the NSE.