Larsen & Toubro (L&T) and Microsoft India have announced the signing of a memorandum of understanding (MoU) to develop a regulated sector focused cloud offering to empower customers with the cloud computing and infrastructure services.
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 company's 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.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU