LTM Launches GCC Origin as Independent Business Unit to Drive Next‑Generation AI‑Native Global Capability Centers

LTM, the Business Creativity partner to the world’s largest enterprises, today announced the launch of GCC Origin, a dedicated business unit to help enterprises establish, operate, scale and transform Global Capability Centers in India.

As GCC needs evolve in the AI era, enterprises are seeking greater scale, speed and integration. GCC Origin represents the evolution of LTM’s GCC strategy to meet these changing needs. Operating as a standalone business unit within LTM, GCC Origin will have dedicated leadership, sales and delivery teams, specialist expertise and significant investment. LTM has appointed Shailendra Singh to lead the business unit, reporting to Venu Lambu, Chief Executive Officer and Managing Director, LTM.

GCC Origin brings together strategy, AI, technology, talent, infrastructure, operations and ecosystem partnerships under one integrated model. Spanning site selection, workplace and infrastructure, operational readiness and turnkey facilities across Tier 1 and Tier 2 cities, it is powered by BlueVerse™, LTM’s agentic AI ecosystem, to help enterprises build new GCCs and transform existing ones to be AI-native by design.

"The role of the GCC has changed. Enterprises no longer set them up to cut costs, they want them to create value from day one and to own capabilities that shape the business. Increasingly, that means AI. GCC Origin is built for that shift, helping enterprises create GCCs that are agentic by design. Its modular model lets clients build, operate and transform GCCs around their priorities, accelerating the path from setup to business value,” said Venu Lambu, Chief Executive Officer and Managing Director, LTM.

GCC Origin offers a componentized service catalogue that lets enterprises select capabilities based on the maturity and scale of their GCC. They can opt for the full GCC lifecycle or individual services through models including Assisted GCC, Build-Operate-Transform-Transfer, Virtual GCC, Joint Ventures, Staff Augmentation and Hire-Operate-Transfer, depending on their ownership and operating model. GCC Origin’s services include:

• Design and advisory: GCC Origin advises on GCC strategy, location and engagement model, and designs the operating blueprint, governance framework and commercial and ownership model best suited to each enterprise.
• Talent, learning and workforce development: LTM’s AI-driven platforms, including Talent Pool Radar, TalentInsights and LTM Shoshin, support hiring, talent management and continuous upskilling.
• AI agents and studios, automation and innovation: BlueVerse offers 300+ pre-built AI agents, custom agents, AI Centres of Excellence, innovation-as-a-service and Automate suite powered by Agent Next.
• Operate and transform: LTM manages IT and business operations, transition, governance, knowledge management, finance, tax, payroll and workplace services.
• Transfer: Structured transfer of talent, technology, knowledge, infrastructure, capabilities and operational ownership aligned with enterprise’s GCC model.

About LTM

LTM, a Larsen & Toubro Group Company, is an AI-centric global technology services company and the Business Creativity partner to the world’s largest enterprises. We bring human insights and intelligent systems together to help clients create greater value at the intersection of technology and domain expertise. Our capabilities span integrated operations, transformation and business AI, enabling new ways of working, new productivity paradigms and new roads to value. Together with over 88,000 employees across 40 countries and our global network of partners, LTM owns outcomes for clients, helping them not just outperform the market, but Outcreate it. Read more at LTM.com.

Media Contact:

Michelle Nalini Kumar | Global Media Relations | Michelle.NaliniKumar@ltm.com

Dipshikha Bhattacharyya | Global Media Relations | Dipshikha.bhattacharyya@ltm.com

Tesla India Posts ₹247 Crore Revenue, Turns Profitable in Debut Year of Car Sales

Tesla India has reported ₹247.3 crore in revenue and turned profitable with a net profit of ₹5.16 crore in FY26, its first full year of car sales, driven primarily by the Model Y and Model Y L. This marks a major milestone for the EV maker in India’s price-sensitive market, showing early viability despite high import duties.

Tesla India FY26 Performance

• Revenue: ₹247.31 crore (up nearly 12x from ₹20.83 crore in FY25)
• Net Profit: ₹5.16 crore (vs. ₹55.5 lakh in FY25)
• Vehicle Sales Contribution: ₹214.69 crore (~87% of revenue)
• Services Contribution: ₹32.4 crore
• Registrations: 1,782 vehicles in FY26; momentum continued with 650 registrations in the first half of FY27

Expansion in India

• Showrooms & Experience Centres: Mumbai, Delhi, Noida, Gurugram, Chennai, Bengaluru, Hyderabad
• Body Shops: Pune and Ahmedabad
• First showroom: Opened in Mumbai in 2025
• Investment: ₹86 crore infused into Tesla India Motors and Energy in FY26

Models Driving Growth

• Tesla Model Y: Price ₹50.89 lakh, Range ~500 km, Seating 5-seat configuration
• Tesla Model Y L: Price ₹61.99 lakh, Range 681 km, Seating 6-seat, three-row layout

Financial Snapshot

Metric	FY25	FY26
Revenue	₹20.83 crore	₹247.31 crore
Net Profit	₹55.5 lakh	₹5.16 crore
Vehicle Sales	—	₹214.69 crore
Services Revenue	₹20.83 crore	₹32.4 crore
Registrations	—	1,782 vehicles
Capital Expenditure	₹1.16 crore	₹62.54 crore
Cash & Equivalents	₹10.28 crore	₹87.82 crore

Challenges Ahead

• High Import Duties: 100% duty keeps Tesla’s pricing premium compared to rivals with local manufacturing
• Rising Costs: Employee benefits tripled to ₹43.67 crore; rent surged to ₹30.32 crore
• Competition: Rivals like BMW iX1, Kia EV6, and BYD Sealion 7 offer competitive EV options at lower prices

L&T Secures Core Systems Orders for Dhaka Metro Line 1, Bangladesh’s First Underground Mass Transit Project

The Transportation Infrastructure business vertical of L&T has secured major Design & Build orders for two key systems packages of the Dhaka Mass Rapid Transit Development Project (Line 1), that is Dhaka Metro, in Bangladesh.

The orders comprise Contract Package CP09 - Track Works & Electrical Systems, and Contract Package CP10 - Signalling, Telecommunications & Platform Screen Doors (PSD). These pertain to the first underground metro project in Bangladesh.

According to the company’s order classification, the value of the order is INR 5,000 to 10,000 crore.

Prior to this L&T had won and delivered the integrated railway systems package for Dhaka Metro Line 6, Bangladesh's first metro rail corridor, which is currently in commercial operation.

Commenting on this, Ramkumar S, Senior Executive Vice President & Head – Transportation Infrastructure, L&T, said: “The repeat orders from Dhaka Mass Transit Company Limited (DMTCL) are a testament to L&T’s capabilities in delivering large scale, integrated urban transit projects globally. With a strong track record of delivering E&M systems for the Dhaka Metro Line 6 with the highest standards of quality and timely execution, and more recently, for the Jakarta Metro, which is under execution, we are well positioned to leverage our experience in seamlessly integrating multiple systems in close coordination with OEMs and stakeholders”.

The Dhaka Metro Line 1 project, funded by the Japan International Cooperation Agency (JICA), will provide a modern mass transit system spanning approximately 31 km. It includes the Airport Route from Kamalapur to Airport and the Purbachal Route from Natun Bazar to Purbachal Terminal, with 19 stations and a depot at Pitalganj.

Together, the two packages form the core operational systems of Dhaka Metro Line 1, and will deliver a safe, reliable and world-class urban transit solution for the people of Dhaka.

Under CP09, L&T, along with its Japanese partner M/s Sumitomo Corporation, will undertake the design, procurement, installation, testing and commissioning of the complete track works, power supply & distribution system, traction substations, overhead catenary system and associated electrical facilities across the corridor.

Under CP10, L&T will execute the signalling, telecommunication and platform screen door for the entire network.

The Transportation Infrastructure vertical of L&T is a leading EPC player, which has delivered some of the most complex rail infrastructure projects in India and international markets, consistently maintaining the highest standards of safety, quality and project execution.

Vikram Solar Wins 290 MWp N‑TOPCon Module Order for Rajasthan’s RUVN Solar Park

Vikram Solar, a leading Indian solar PV module manufacturer, has bagged an order to supply 289.87 MWp of N-TOPCon modules to NLC India Limited (NLCIL), on behalf of NLC India Renewables Limited (NIRL) for an 810 MW solar power project at the RUVN Solar Park in Pugal, Bikaner, Rajasthan, one of the largest solar parks in the country. NLC India Renewables Limited (NIRL) is a wholly owned subsidiary of NLC India Limited.

Built on N-type TOPCon cell technology, the modules are designed to deliver higher energy yield and stable output in high-irradiance, high-temperature conditions such as those of western Rajasthan.

Spread across the Thar region, the RUVN Solar Park is central to Rajasthan’s effort to harness its vast solar resource, as the state continues to lead India’s utility-scale solar build-out. A role in a project of this magnitude reinforces Vikram Solar’s standing as a trusted domestic supplier for grid-scale installations, where consistent quality, bankability and timely delivery are critical. The order further adds to the company’s order book as demand for high-efficiency, domestically manufactured modules continues to rise under India’s drive for self-reliance in solar manufacturing.

Mr. Sameer Nagpal, Chief Executive Officer, Vikram Solar, said, “As India builds clean energy capacity at gigawatt scale, the industry is placing greater value on technology and supply partners it can rely on over the long term. Being entrusted with nearly 290 MWp of modules for this landmark project is a strong endorsement of our N-TOPCon technology and our ability to deliver at utility scale. As we deepen our integrated manufacturing capabilities, our priority is to give customers the performance certainty and supply reliability that projects of this size demand.”

About Vikram Solar Limited:

Vikram Solar Limited is one of the leading Indian solar module manufacturers, specializing in efficient photovoltaic (PV) module manufacturing, with an international presence across 39 countries. Headquartered in Kolkata, West Bengal, it is one of the largest PV module manufacturers in India. Vikram Solar is a 9th time ‘Top Performer’ in PVEL’s PV Module Reliability scorecard and has been included in the Tier 1 solar PV modules manufacturer list of Bloomberg NEF for 10 consecutive quarters. Vikram Solar Limited has established a pan-India presence through an extensive distributor network of 119 authorized distributors and more than 750+ dealers.

JERA and AM Green Ink Landmark Pact to Supply Green Ammonia for Japan’s Maritime Decarbonization

Advancing Japan’s end-to-end lower carbon ammonia value chain beyond power generation.

JERA Co., Inc. (JERA) and AM Green Ammonia (India) Private Limited (AM Green) today jointly announced that it has entered into a Binding Heads of Agreement ("HoA") with AM Green regarding the long-term supply of green ammonia produced in India.

• JERA and AM Green have agreed upon supply of approximately 70,000 tonnes of green ammonia annually over five years, with potential extension of term for additional supply.
• The green ammonia is intended to be supplied through receiving, storage and distribution facilities being developed adjacent to JERA's Hekinan Thermal Power Station in Aichi Prefecture, Japan,
• Green ammonia would primarily be supplied to a business venture jointly to be established by Kawasaki Kisen Kaisha, Ltd. and Nippon Yusen Kabushiki Kaisha, which plans to utilize an ammonia bunkering vessel to supply fuel to ammonia-fueled car carriers,
• This marks one of the first large scale green ammonia based bunkering initiative globally,
• The green ammonia meets internationally recognized low-carbon standards and is benchmarked against the European market requirements,
• Green ammonia will be produced at AM Green’s Kakinada facility in Andhra Pradesh, India, planned to be commissioned by 2028/29. The facility will be supported by AM Green’s innovative round-the-clock renewable energy architecture, reinforced by pumped-hydro storage, powered by advanced alkaline electrolysis technology.
• This agreement advances the end-to-end low-carbon ammonia value chain JERA has been building across production, transportation, storage and utilization. It adds an additional source of supply and would extend the use of ammonia by JERA beyond power generation to maritime fuel, which will lead to the development of the infrastructure needed for broader ammonia utilization across Japan's industrial and commercial sectors.
• The long-term procurement of green ammonia from India would add renewable-based green ammonia to JERA’s planned supply of low-carbon ammonia portfolio further strengthening supply security and resilience that allows end customers to match supply to their decarbonization needs.
• The agreement marks one of AM Green’s first delivered-basis supply contracts in the Asian market and a milestone for the company as it pioneers direct delivery of green fuels to Japan.
• This landmark agreement further strengthens AM Green’s position as a global leader in renewable ammonia production, accelerating India’s emergence as a major supplier of green molecules and establishing AM Green as a partner for Japan and the broader Asian energy transition.

Irtiza Sayyed, JERA’s Senior Managing Executive Officer and JERA Global Energy Solutions CEO, said: "This agreement is an important step in advancing a practical end-to-end lower carbon value chain for Japan, anchored by our power generation business and serving a broader range of industries. Through our group structure, we combine JERA’s power generation and infrastructure platform in Japan with JERA Global Energy Solutions’ global supply capabilities. This allows us to connect diversified sources of ammonia with customer needs in Japan, contributing to Japan’s decarbonization goals.”

Mahesh Kolli, Group President, and Joint Managing Director of AM Green, said: "Our partnership with JERA marks another important milestone in AM Green’s journey to become a leading global supplier of renewable ammonia. This agreement reflects the growing demand for competitively priced green molecules from India and reinforces the strategic role of our Kakinada project in supporting Japan’s and maritime industry’s decarbonisation ambitions. By combining renewable energy, large-scale energy storage and advanced green ammonia production, we are building a reliable and scalable supply platform for international markets. We look forward to working closely with JERA to advance this partnership and contribute to the development of a resilient global green ammonia value chain."

About JERA

JERA is a global energy leader and Japan’s largest power generation company focused on providing cutting-edge solutions to the world's energy issues. Established in 2015, the company produces one-third of Japan’s electricity and is one of the largest LNG buyers in the world. JERA has global reach and strength throughout the energy supply chain, including participation in upstream gas exploration and production, LNG projects, fuel procurement and transportation, and power generation globally.
In support of a responsible energy transition, JERA aims to achieve net-zero CO₂ emissions from its domestic and overseas businesses by 2050.

About AM Green

AM Green Group is promoted by the founders of Greenko Group, which is among India’s leading renewable energy conglomerates. AM Green Group is building globally differentiated platforms across molecules, metals & materials, and AI technologies to enable industrial decarbonisation and competitive tokenisation at scale. AM Green backed by marquee investors like Gentari and GIC, is developing European standard green ammonia projects across multiple locations in India with a goal to reach 5 MTPA capacity. AM Green’s 1 MTPA green ammonia plant, currently under construction in Kakinada, will be one of the world’s largest green ammonia facilities, supporting efforts to achieve net-zero targets both in India and global markets.