Hi Mohit,
First, congratulations for your brilliant performance on the placement circuit!!!
I am a Senior Business Analyst with Evalueserve and and an Engineer from DCE (2005). So you can say I was in prity much in a similar position couple of years back (the other company was Perot Sys in my case). Anyways, i would like to present my analysis with an effort to avoid any bias due to my present associations..... Nevertheless, i would encourage you to read the other side of the story as well.
As you have rightly identified, both the companies are good. And your decisions should be based on your interests. In case, software really interests you LNT in the place (No prizes for that

). However, if you aim to persuit management .... GO For EVS!!!. The basis for my analysis (Sorry, I am analyst!!!

) are the following:
1. The growth opportunities within the organization in EVS are very good. As and when you are ready to assume a greater role... you get that (may not be in designation but definitely in profile). In IT companies, of what i gather, the growth is flat.... no promotion in 2/3 years.... very little change is work profile (you might want to confirm this part thought). In EVS, you reach the project management stage rather early (1.5-2 yrs) and as i often say... To have this experience before your MBA is a
BIG advantage.
2. The kind of skills you gather in EVS (in BR atleast) are very much in line with those required in a B-School (report writing/analytical thinking/project management ...etc.). Hence, a work experience with EVS is really appreciated in a lot of quarters (MBA admissions/During MBA/MBA placements)... esp by Consulting firms. On the other hand... key skills acquired at IT firms are well........ not so relevant..... what use is your JAVA/Symbian/etc (I have no knowledge of these... sorry

) coding skills to a company coming for placements in a B-School.
3. The life here is definitely more demanding than in IT firms.... you can view it either positively or negatively... your call!!! You will have a more stressfree life at an IT firm... But then EVS will definitely give you better exposure than most IT firms....
As you would have guessed.... I am really satisfied with my profile and can safely say.... EVS is one of the better things that have happened to me... Nevertheless, there are people (in EVS too) who might think differently..... like everywhere, there are crib-points here as well.... The salary raise are not too high (Is my AVP listening!!!

), at times the work is not too exciting etc. etc...
I would like to conclude this by saying.... i know where i am heading for... all skills i am adding today are gonna pay me in the long run as well... I see other guys of my batch.... and i still feel satisfied!!!
Do let me know incase you wanna touch upon any specific aspect.... (such as money...which I have safely sidestepped!!!

)
All the Best,
Anshul