Aman Thadani

Thanks for the opportunity. I have a few questions pertaining to BUSY. The first is, over the last three years, we have seen a very good revenue growth, approximately 28% compounded and now that is ex of accounting change. That growth is despite a 10% growth in license year-on-year, which sort of implies a very good revenue per license expansion.

Got it. The license have grown at 10% a year over the last 3-4 years, but the revenue has really expanded. So g oing ahead, is there still meaningf ul scope to expand revenue per license? And should we assume that the license would stay at 10% growth over the next 3-4 years? Is that the right way to think about it?

My second question is on the investment piece. Since we have a very good track record in making strategic investments . So just wanted to understand from you that, is there a rough target maybe in rupees crores on maybe how much we would want to invest in, let's say, taking a meaningful stake in existing investments or maybe making new investments over the next three years?