L&T secures ₹800 crore cybersecurity deal with Maharashtra State Cyber Department

TLDR:

• L&T Technology Services won an ₹800 crore cybersecurity order from the Maharashtra State Cyber Department.
• The project includes building a cybersecurity system and a cybercrime prevention center using AI and digital forensic tools.

L&T Technology Services Limited (LTTS) has secured a groundbreaking program in India valued at around $100 million (₹800 crore) from the Maharashtra State Cyber Department. This initiative involves collaborating with KPMG Assurance and Consulting Services LLP to deliver advanced cybersecurity solutions for the state. The primary focus of the project is to establish a cutting-edge cybersecurity system and a fully equipped cyber security and cybercrime prevention center to combat cybercrime incidents and investigations using artificial intelligence and digital forensic tools. The CEO of LTTS, Amit Chadha, highlighted the significance of this deal in enhancing public safety and addressing the growing need for advanced digital safeguard platforms.

The CEO of KPMG in India, Yezdi Nagporewalla, expressed pride in participating in this innovative venture, emphasizing the shared commitment to public safety and countering cyber threats through advanced cybersecurity solutions. The deal reflects the companies’ dedication to leveraging their expertise to benefit society at large.

Shares of L&T Technology Services Ltd saw a 2.37% increase following this announcement, demonstrating investor confidence in the company’s growth prospects. The stock has shown steady growth over the past six months and has climbed 50% in the last year, underscoring the positive market sentiment surrounding LTTS’s latest cybersecurity project.