L&T and Microsoft ink partnership to develop regulated sector cloud offering

7 Feb 2022 , 11:47 AM

In line with emerging regulations, L&T and Microsoft will co-engage with a defined set of large customers in regulated sectors to develop architectures and roadmaps to modernize their traditional data centers to potentially hybrid models.

Under the MoU, the two companies will setup a joint governance group to define future platform designs, investments, and commercial/business models to service the regulated sectors emerging technology requirements. Senior leadership teams of both the organizations will be engaged collectively on this as the association evolves.

S.N. Subrahmanyan, CEO & MD of Larsen & Toubro, said, ?Our partnership with Microsoft aims to accelerate hybrid cloud transition for large customers in regulated sectors, while maintaining the highest benchmarks of compliance, security, and governance.?

As per the present norms, the MoU will focus on engaging customers in the Indian jurisdiction, with the potential to extend this partnership to other jurisdictions in the future, as agreed between the two companies. At an appropriate time, L&T and Microsoft will consider possible partnership structures to continue to collaborate for the performance of this MoU.

L&T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services.

The companys consolidated net profit fell 67% to Rs 1,819.45 crore on 12% increase in net sales to Rs 34,772.90 crore in Q2 FY22 over Q2 FY21.

The scrip fell 2.47% to currently trade at Rs 1899.95 on the BSE.

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