Hi, thanks for taking my question. First question, Mohit, you said F '26 likely to be better than F'25. My first question is on Fiscal '26 commentary better than Fiscal '25. Sheer arithmetic shows that it requires you to grow revenues sequentially over the next 3 quarters. So, do you expect this to happen from 2Q onwards based on the conversion of the deals?
Got it. And any key verticals that drive the growth or leads the growth?
My questions are on top five clients , continues to see weakness for the last few quarters. Where do you see this bottoming out? Secondly, is your current deal win trajectory enough to get you to an industry growth rate next year? If not, then what should be the target quarterly win rate one should look at? And the puts and takes for margins in second-half?
Hi, thanks for taking my question. My first question is pertaining to this restructuring charge. CVK, what is driving this restructuring? Is it to do with the fact that the evolution of services is changing in terms of how contracts are restructured, loca tion agnostic services are happening and hence some restructuring on the onsite conditions, just trying to understand is it pertaining to the pay services business?
Got it. Second question on the talent strategy, we did talk about accelerating the intake of freshers last quarter and we kind of saw that happening this quarter. What we kind of hear is that because of the productivity gain, a lot of the junior level jobs are getting automated, but at the same time, we are seeing an increased intake of the fresher. So, how do we reconcile what is really happening and eventually how do you think the overall pyramid will shape up over the next 3 -5 years, keeping in mind the reputable solutions that you are building in, the platforms that you are building?
Hi, thanks for taking my question. My first question is on the net new deal wins. Has there been any bunching up of decisions which led to significant increase in the deal win this quarter? Or is this something that you expect more as a regular phenomena based on the kind of pipeline that you're seeing?
Got it. Second question on, from a guidance point of view, what are you envisaging from a 1Q perspective, the usual seasonality that you see or do you think that will be covered up because of the very strong ramps from the mega deal that you talked about which is going to come in the next two quarters?
First question is for CVK, just want to understand your commentary you made around press conference on discretionary spending, outlook looking slightly better. Is it reflected in the form of the timeline to close the deals coming down or is it more like the conversion of the deals to revenue has improved because of higher mix of the short cycle deals, just trying to understand the behavior of client changing versus last quarter.
The second question is for Shiv. Just want to understand the quantification of impact on margins from wage hike that you have taken in the current quarter. Thank you.
The first question is for CVK. Just trying to understand all the projects that we are delivering on GenAI, how to understand if it's all an incremental demand that is coming to us or it does it reflect that some projects are being prioritized on GenAI but something else is being deprioritized? Trying to understand if it is an incremental net positive for the industry and for us.
Related question, CVK, on the prerequisite that you mentioned that once you complete the POCs, you will have a lot of the work coming around modernization, which would be prerequisite for companies to implement the GenAI. Does it mean that the second stage could mean a much larger project than that you have right now on POC stage and much longer engagements?
Hi, congrats on good execution. A couple of questions. On your comment on competition intensifying in quick commerce; so far, our investments were focused on growing network of stores, increasing assortment while not necessarily focusing a lot on subsidies. And now you have talked about growing market share aggressively. So, any change in priorities from investment point of view?
Got it. Any color that we can get on your SSG growth in the top 8 cities, if not quantification, some qualification or comments on how has it been trending over the last few quarters? Any signs of slowdown or is it still trending on the upward direction?
Hi, congrats on reaching the milestone of 1,000 stores ahead of your schedule. My first question is about the key drivers for food delivery margins. You did mention the platform fee, but did the delivery cost also come down in that business? Additionally, what drives your confidence in margins reaching 5% in the next few quarters? What would be the key drivers?
Okay. I'm just trying to understand—this optimization is obviously not coming at the cost of market share, right? The focus on maintaining market share will be the primary goal, and then, with that in mind, you will be optimizing margins.
Hi, thanks for taking my question. My first question is on AOVs for Blinkit. How should we think about it structurally as you add more categories and assortment? Is it fair to believe that this AOV number could structurally inch up quite a bit?
Got it. Second question is on SKUs, how should we think about the limiting factor on SKUs? Could it go to 30,000 or 40,000 SKUs from a medium-term perspective, and what would be the limiting factor? Also, a related question, is selection no longer as important to consumers from a buying behavior perspective? Even with constrained selection, is delivery timeline becoming more important, hence the traction in quick commerce? What is your sense on that?
Hi, thanks for taking my question and congratulations on a solid set of results. My first question is on food delivery. I want to understand how broad-based the growth was across the top eight and non-top eight cities. When we look at the top eight cities, what has been the driving factor for growth? Is it driven by user growth, frequency, or average order value? I'm just trying to understand the key factors driving the growth in the top eight cities as well.
Got it. Secondly, on quick commerce, any online model has three key tenets: selection, price, and convenience. How are we solving for selection? You did mention that some locations have gone to the extent of 22,000 SKUs, but there is always a push and pull between the size of stores required to store these SKUs and the time required to deliver them within the 10 to 20- minute bracket, right? I'm trying to understand how you are solving for that constraint from a business model perspective. What's been the experience in some of these locations where you have been able to take the SKUs to more than 20,000?
Hi. Thank you for taking my question. I have a couple of them. Just the first question for Srini. What exactly your guidance assumes with respect to normalization of the environment? Is it that the environment remains tough throughout the quarter what your assumption is or you expect that to normalize over the coming weeks and some a bit of that reflects in improving growth over the coming months may not be start of the quarter but back half of the quarter?
Sure, Srini. Thank you so much for that transparency and explanation. My second question is on the TCV that you report, the total TCV minus the (Inaudible) 47:59. If you look at that number on a trailing 12 months, it's down by around in like 13%, 14% YoY. Is this the reason why the conversion of order book into revenue gets impacted because these deals convert into revenue much faster than your larger deals. Of course, you are doing great in large deals, but that takes time to convert into revenue. But this immediately flows in and correlate that this part of the business is driving a weaker conversion ratio?
My first question is on the large deals. Have you seen any change in the average and tenure of these deals and hence the conversion of these deals into revenues?
The second question is, what are the portfolio interventions you have done in some of the areas where growth has not been so great like EMR vertical, APM EA geography and where are we in terms of these interventions, are we likely to see any changes in the outcomes?
My first question is with respect to the large deal momentum. If you look at the rolling 12-month data for a while, you were stuck at $4.5 billion and now we have crossed that and gone to $4.7 -$4.8 billion. Just trying to understand what has driven this change. Is it more specific to Wipro in terms of the initiatives around largest put in place which is triggering this increase and increase in the win ratio, or something has changed around the pipeline or our approach to the overall large de al wins, so just trying to understand how sustainable this improvement is that we are seeing here?
The second question is for Aparna. You did allude to couple of factors which were specific initiatives of Wipro and topical to the company on margins, so have those initiatives already played out in the form of resulting in margin tailwind in the last two quarters or do you think that there are some more that will be flowing into the margins over the next 2 quarters?
Wishing everyone a very Happy New Year . I have 2 questions. First, where are we in our journey of infusing AI into various statement of work that we do with the clients? I'm sure we run thousands of different projects with the clients, and there will be an initiative to infuse AI. So where are we in that journey? And my second question is that, Krithi, you made a comment that discretionary work comes then automatically, the revenue realization is faster would that also mean better revenue productivity, and could that also be a lever for margins?
Thank you very much.
Thanks for taking my question. The first question is for Krithi. You did talk about optimism around discretionary spend returning back. So apart from macro data points, what are you seeing either in your portfolio or client conversation or the pipeline that gives you more confidence around return of discretionary spend over a period of time?
Got it. The second question is on margins. I know that you gave us the details, and that had a component of capacity building an infrastructure-related investments that had some impact on the margins -- kind of coming back gradually, would you expect margins to return to the range that you talked about in the near term or will it be more like a medium -term phenomenon . Basically, you have levers around India business, sort of tapering down on that contract, which can lead to some margin expansion on top of it some capacity creation has happened. That also kind of can lead to a margin expansion. So, trying to understand 26% is it more of a near -term phenomenon or more like a longer-term margin aspiration that one should think about?
Hi, thanks for taking my question. The first question is around the nature of deal pipeline. If you could just a little bit elaborate more on what kind of deals you're seeing in the pipeline and has there been any shift in the mix of the deals towards more smaller deals that get consumed into revenue faster or it continues to remain the way it was in the last few quarters?
Secondly, on the BFS, you did talk about some better trend in North America this quarter. Is there any reason to believe that the projects that you have embarked upon would not continue in the near term? I'm just trying to understand that from a visibilit y perspective, at least some of these projects should continue if they are longer tenured, right? So, then from a visibility point of view in the BFS vertical, there should be a decent visibility at least for the near term?
Hi. Thanks for taking my question. First question is the reasons for change in guidance for revenue growth. Is it largely because 2Q came in better t han your expectations, or is it because the outlook for 2H has improved versus your prior expectations because of better pipeline of the smaller deal?
Got it. Second question on Gen AI adoption. Have you seen Gen AI actually triggering a large transformation project and leading to multi-million dollar deal or multi-year deals? Just trying to understand that is this going to lead to a wave of a larger IT spend and increase the overall addressable market for us?
Hi. Thanks for taking my question. First question is the reasons for change in guidance for revenue growth. Is it largely because 2Q came in better t han your expectations, or is it because the outlook for 2H has improved versus your prior expectations because of better pipeline of the smaller deal?
Got it. Second question on Gen AI adoption. Have you seen Gen AI actually triggering a large transformation project and leading to multi-million dollar deal or multi-year deals? Just trying to understand that is this going to lead to a wave of a larger IT spend and increase the overall addressable market for us?
Salil, the first question is for you. On revenue, it looks like it has surprised you positively which is why you have raised the guidance. So, is it led by the ramp-up on the deals happening faster than you expected? Is it led by leakage in the discretionary improving compared to the last few quarters that you have seen?
Got it. Any reason to believe that this momentum could decelerate in the near term, any data point to suggest that or as of now you would expe ct the momentum to continue from a near-term perspective?
Salil, the first question is for you. On revenue, it looks like it has surprised you positively which is why you have raised the guidance. So, is it led by the ramp-up on the deals happening faster than you expected? Is it led by leakage in the discretionary improving compared to the last few quarters that you have seen?
Got it. Any reason to believe that this momentum could decelerate in the near term, any data point to suggest that or as of now you would expe ct the momentum to continue from a near-term perspective?