L&T Semiconductor Technologies is aiming to reach $500 million in revenue by FY31, according to CEO Sandeep Kumar. The business, incorporated in November 2023, is starting from a relatively small base and is positioning itself as a design-focused semiconductor company rather than a chip fabrication player.
That approach sets it apart from larger Indian groups that are investing in semiconductor manufacturing capacity. Instead of building fabrication plants, L&T’s semiconductor unit is centered on chip design, a segment that can scale through engineering capability, customer programs and overseas demand.
The company’s growth plan is tied closely to exports and to serving strategic sectors, which suggests a focus on specialized, higher-value applications rather than mass-market volume alone. This direction could help the business build a stronger niche as India tries to expand its role in the global semiconductor ecosystem.
At the same time, the unit is also watching for support under the government’s expected Semicon 2.0 incentive framework. As policy support evolves, L&T Semiconductor appears to be balancing long-term ambition with a measured build-out in design-led chip opportunities.
