Yorkshire Water has awarded LTI Mindtree a contract
- ByStartupStory | December 23, 2022
On Thursday, LTIMindtree, a merged entity of Larsen & Toubro Infotech (LTI) and Mindtree, said that it had won a contract from Yorkshire Water, a leading U.K. utilities firm, to modernize operations across its clean water, wastewater, and asset management divisions. Despite this encouraging news, shares of LTIMindtree, the country’s fifth-largest IT firm by market capitalization, fell as much as 1.5% to an intraday low of 4,355 on the BSE.
On Thursday, the share price of LTIMindtree began slightly higher at 4,425.05, compared to the previous closing price of 4,422.85 on the BSE. Extending its early gains, the stock surged more than 1% to a high of 4,472.85 but then fell into negative territory, falling as much as 1.5% to an intraday low of 4,355. The counter was trading at 4,379.90, down 1%, at the time of reporting, with a market value of 1.29 lakh crore. The IT heavyweight reached a 52-week high of 7,595.25 on January 4, 2022, and a low of 3,733.25 on May 26, 2022.
LTIMindtree announced today in an exchange filing that it has been selected by Yorkshire Water as a transformation partner to modernize processes across its clean water, wastewater, and asset management sectors. Yorkshire Water is the world’s ninth largest water provider, serving 5.2 million consumers in Yorkshire with water and wastewater services.
“We are excited to partner with Yorkshire Water in helping millions of customers get access to clean water and safe sanitation, which are the cornerstones of human health, well-being, and development,” said Sudhir Chaturvedi, President and Executive Board Member, LTIMindtree.
As part of the agreement, LTIMindtree will assist Yorkshire Water in migrating its main business processes to the SAP S/4HANA platform, which will include work and asset management, complicated scheduling, materials management, inventory management, health and safety.
“By automating and simplifying processes, consolidating data, and modernising core systems using intelligent technologies, LTIMindtree will enable Yorkshire Water to boost operational efficiencies, augment capabilities, and enhance user experience,” the L&T Group company said in the filing.
Yorkshire Water will be able to drive integrated work planning and scheduling, as well as dynamic asset maintenance, thanks to a unified asset, workforce, and financial management.
“By blending our next-generation ERP expertise and extensive industry experience with the advanced end-to-end capabilities of SAP S/4HANA, we look forward to accelerating the digital transformation journey of this critical national infrastructure and helping Yorkshire Water deliver services tailored to customer needs,” said Chaturvedi.
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