USD 1.63 Billion Order Inflow: Larsen & Toubro Backed IT Services Company Wins Rs 792 Crore PAN 2.0 Project from CBDT

On Thursday share price of LTIMindtree was trading in negative territory at Rs 5,005 per share, down by 0.61 per cent.

LTIMindtree, a global technology consulting and digital solutions company and a subsidiary of Larsen & Toubro Limited, announced on August 7, 2025, that it has been awarded a significant mandate from the Government of India’s Central Board of Direct Taxes (CBDT). This mandate, known as the PAN 2.0 project, is valued at Rs 792 Crore. The project is a crucial Government-to-Citizen (G2C) initiative aimed at transforming India’s Permanent Account Number (PAN) infrastructure by consolidating all PAN and TAN (Tax Deduction and Collection Account Number) services into a single, streamlined digital platform. This consolidation is intended to simplify access and management of one of India’s core financial identity systems for citizens and businesses alike.

For the PAN 2.0 mandate, LTIMindtree will undertake the design, build, and operation of the entire technology backbone, which includes infrastructure, security, automation, and ongoing operations. The company is tasked with delivering an end-to-end digital AI ecosystem that will cover the complete PAN service lifecycle, from application and validation to printing and dispatch, all accessible through a user-friendly platform. This initiative aligns with the government’s broader e-governance strategy to deliver services to Indian citizens via digital channels. 

The comprehensive scope of the project also involves migrating existing PAN data, incorporating AI-led deduplication, and ensuring secure integration with the Aadhaar Data Vault. Furthermore, LTIMindtree will be responsible for establishing robust physical infrastructure, including a Data Centre (DC), Disaster Recovery (DR) site, Network Operations Centre (NOC), and Security Operations Centre (SOC). Operational facilities will also be set up at ITD (Income Tax Department) premises. To ensure citizen support, the project includes the establishment of a call centre, a multilingual helpdesk, and a grievance redressal system. LTIMindtree will also manage all audit and certification processes to maintain compliance and quality assurance, alongside providing long-term operations and maintenance to guarantee the platform’s reliability, security, and scalability.

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About the Company

Larsen & Toubro Infotech Ltd, now operating as LTIMindtree, offers a comprehensive range of IT services including application development, maintenance, outsourcing, enterprise solutions, infrastructure management, testing, digital solutions, and platform-based solutions. The company recently merged with Mindtree, enhancing its capabilities and market reach. LTIMindtree's revenue is diversified across various verticals, with Banking, Finance Services & Insurance contributing 36.5 per cent, and Hi-Tech, Media & Entertainment accounting for 23.8 per cent.

Geographically, North America is the largest market, representing 73.4 per cent of revenues. The company has a strong client base with over 700 clients, and its top 20 clients contribute 45.2 per cent of revenues. LTIMindtree has made strategic acquisitions, such as Cuelogic, to bolster its service offerings and competitive edge. The company maintains strategic alliances with major technology firms like Microsoft, SAP, and Oracle, and has expanded its global presence with a new branch office in South Korea.

LTIMindtree's market capitalisation is over Rs 1.4 lakh crore. The stock is down by 9 per cent in 1 year and has given multibagger returns of over 107 per cent in 5 years. The Price-Earnings (PE) Ratio is 31.

Disclaimer: The article is for informational purposes only and not investment advice.