First is on this Athiva, new brand. So will it any way change upcoming renegotiation with our third-party license or any commercial arrangement? Or is there any noncompete clause we have with our existing licenses or brands which we have already?
Okay. The second question was related to that only. You said the coming soon in Athiva, the new Navi Mumbai, it's that Vashi Sheraton that will get converted into that.
Two questions. First is on potential capex in FY '25 and '26. And secondly, on this Hyderabad market, what is the supply likely over the next probably 2 years or 3 years in the market considering the ARR growth of 20%...
Just if you can break up the debt number between what is backed by commercial and what is on the hotel side, that would be helpful?
So, the backdrop of this question is largely the fund raise proposal that you have put. Now, when I look at it based on our past commentary, clearly, we used to say that the LRD route will bring some cost of debt lower and incrementally clearly, the potential if I look at it once the Taj at Delhi starts and coupled with this probably the real estate portfolio maturities, the surplus that we could accrue whenever it happens. I'm just saying that incrementally and in your comment also you said that internal accrual should take care of our growth CAPEX from here on. So, just thought that how should we look at this then fund raise proposal of somewhere around Rs 2,000 crores, is it that probably we are looking at fairly larger CAPEX beyond 27 or 28, that's how we should look at it because I believe the cash flow will be reasonably better at least based on the current growth plans?