You talked about some of the deal wins. It looks like a lot of AI -led productivity baked into some of these. Could you talk a bit about how this is helping to increase the win rate overall? And secondly, it’s just something that.
Looking at the deal wins that you announced and seems to be having some AI productivity baked into some of these, especially a BP O deal. So, I want to check how much are you baking into these , have you seen this improve your win rates across the board?
CVK, just wanted to check about the Manufacturing vertical performance. Last year, despite the productivity improvements, we have shown good growth. Even the year before that, there was only a slight decline, just about 0.5% Q -o-Q in CC terms. This year seems to be a lot more pronounced. Could you give some more color on what happened in the automotive sector? Is there any decline in the ASAP acquisition's revenue specifically?
Prateek, a question on the margin. Your IT Services' margin seems to be holding up well with the shift offshore probably leading it, but the R&D has seen a sharp decline. Can we recover the R&D margins fairly quickly or do you think this will take a few quarters?
Prateek, just on the guidance again, last year, so I loo ked at your IT business service, it was almost just flat Q-o-Q basis, ER&Ds got declined and we talked about how some large programs have got termina ted and we will be back to growth in that and even the year before that IT business services and ER&Ds have a decent Q1. So, struggling a bit about how we can get to this low end of the guidance and the (-2%) in Q1?
The Q-o-Q CC growth in Q1 FY24 if I recover and that is just about flat Q-o-Q IT and Business Services. ER&D had declined by about 5%, correct, but that was due to some deals that we had I think in high tech that ran down, but overall that shouldn't really recur, right?
Thank you for the opportunity. I wanted to touch upon one of the markets that you're already strong in that is th e Airline Industry. We had heard about how they want to go direct-to-consumer, and I guess, those plans have been put on hold as they struggled on that front. Do you see some of those kinds of investments coming back? | 24
And in manufacturing, where you spoke of were you talking about aerospace specifically or any other segments?
Hi, thank you. You spoke about how we've finally seen America and North America come back to sequential growth. I don't think even during the financial crisis we've had a situation where we have five quarters of sequential decline. So this was an unusual time, but do you think that we finally bottomed out here and should we see sequential growth from here in North America? | 17
Thank you, Krithi. And if you look at the trailing 12 months book to bill as well, when we started seeing that drop, that's when I think is a very new start. Should we think about that as a lead indicator? And now we've seen that trend up. Last quarter of course, you had a really extraordinarily good looking quarter. So, that moved that up as well. But we are trending above 1.35, 1.37 for three quarters. So should we think about that as a good leading indicator, if not for a quarterly indicator, but at least for the full year?
Really good to see that BFSI is doing well for us. So wanted just a broad comment on how do you think about where your business mix in terms of annuity versus more project -oriented broad concept, which dominates the business? And how would you like this tr end in future years? Second is, what have you done in BFSI and what sort of logos are we winning? And what areas are we winning in? And the third question is in terms of on -site revenue, that's what has come down significantly. Your offshore re venue has gone up. So structurally, are we looking at better margins once we see these deferred projects come back in that on -site revenue picture?
I actually asked about the business mix , more for the company overall and not just for BSFI specifically?
Congrats on a pretty good progress, growth. Could you talk a bit about -- you said that the macro is still very challenging and the demand outlook not very encouraging. So how do you say this changed through the quarter? And how do you think this is compared to where we were last year?
And saw that you’ve done well in BFSI, and this has not been something that Birlasoft was very strong at. Could you give us a bit of color on what's working for you in BFSI?
Thank you, and c ongrats on a really good quarter. I wanted to ask about the onsite revenue proportion reducing. Is that something that was impacted by furloughs or holidays, leave, etcetera taken more on-site or is this an operational shift that will endure?
Thank you. Appreciate that. And it looks like the new deals are also more fixed price in nature because I see the fixed execution is also going up. So could you give us a little bit of sense of what sort of projects these are in specific areas, large programs where you're seeing traction?
Last year, we took a significant provision for onerous contracting altogether through the year 6.7 billion. So, are we continuing to do any of that, it still seems a bit elevated?
Thanks, Rohit. Mohit, just broadly how should we think about any areas that you're thinking about improving your win rate substantially because given the size of your portfolio, you need to improve in a large segment or say material market segment, right. So, which segments would you be looking at given that digital, it's not really early stage, right? And we are still probably an early cycle, but credentials have been set already. Do you see any gaps for Tech Mahindra possibly that given some tuck-in acquisitions can solve?
Rohit, you talked about 160 basis points impact. There is no impairment that we've called out. So, could you explain what exactly is this 160 basis points impact and is that entirely in the SG&A line?
Is there any revenue impact as well, Rohit, due to this closure of contracts?
Thank you for the opportunity and congrats on really strong growth in Americas. I want to understand why are we s eeing that and also in Europe, why is there a decline now? You had several quarters I think about eight, nine quarters of good growth there. And finally, that is down a bit. And on BFSI too actually you spoke about how some of this decline is just blip and we will return to growth, but could you give us some more detail about what sort of programs have come to an end? And are we seeing a spend start in a different spot or with a different set of plans?
Thanks Sudhir and strong ramp -up in BPO is this travel or is this related to the mortgage business picking up? Could you talk a bit about that?
Hi. Thank you very much. Sudhir, you talked about how BFS continues to be having a difficult time, but last four quarters you delivered good growth and BFS. So, could you give us some idea about what sort of programs are you seeing and what's the pipeline looking like over there?
Thanks. It looks like Europe turned really well this quarter and I think even year-on- year Europe is up a lot better than the US. So, again any color on the verticals what's really contributed to growth there and can to sustain?
Hi, thank you for the opportunity and congrats on good execution on the margin side. So, yes, I wanted to ask you about how you’re thinking about improving growth momentum. Do you want to take an approach where you invest upfront and one of your peers where there ’s been a CEO change, they have taken an approach to completely disregard I think near term margins and try to focus on your growth first and then thinking that margins will come later. Do you agree with that or what do you think we need to do to accelerate Wipro’s growth?
Great. Thank you very much, Aparna, and there is a question on the customer tiers, yes, we have seen that in the 75 million plus tier, there has been a drop of 3 customers quarter -on-quarter, year-on-year it is still up by 1. But just wanted to understand it and if I look at it, it’s not even dropped down to 50 million plus tier by that. When that is down by two, so are we still seeing some pressure with even the largest clients in terms of spending? Are they still cutting back in projects?
I guess the first question is on the top ten. You’ve seen the top client, but even the top two to five that has seen growth, your BFSI is actually seeing pretty strong growth as well, h ealthcare also seems to be doing well. So, the ones that are actually not doing well seem to be relatively smaller segments like communications or hi -tech. Could you give some color around whether the weakness in these segments is the reason why you’re still looking at muted growth outlook for next quarter? And should we expect that in your biggest verticals you’re actually seeing growth?
The utilization number is at 84.8%. This exclude all the acquisitions, right? So, how should we think about where say for example Capco’s utilization might be, should that be a margin lever if the BFSI demand comes back?
Could you talk a bit about what led to really good growth in Europe and similar in the US? I mean, I wasn't aware that SWC has much exposure to America, but it looks like America has had a sharp decline. So, what's caused that?
Just a follow up on the EV side. We've heard about the Tier-1 German OEM restructuring the software part of their business with about I think 1,400 layoffs. So, are you expecting that there will be any impact due to that or are you even a beneficiary of this?
Thank you for the opportunity. W ith the cybersecurity win in the state of Maharashtra these kinds of deals are what SWC was doing I think pre-integration and we've never looked upon the India-centric deals as something that can generate even company average profitability. Is that different here?
And these sorts of deals, I guess, there are a lot of them that enterprises give out as a standalone or separate from infrastructure services?
Hi. Thank you for the opportunity. I just wanted to ask about Automotive. Do you think that if the European Union dilutes 2035 sunset for ICE engines, that could be potential headwinds in the traction we've seen in Automotive?
Great. Thank you for that detailed answer. And on Aerospace, you had been empanelled by Airbus, if I recall right, as one of the strategic vendors. So, I know that unlike say, one of our competitors, we don't have any manufacturing facility as such. So, do you think this is a disadvantage for you in Aerospace compared to peers who have that capability?
Congrats on the good revenue performance. Want to talk about the BFSI growth. How broad based is it that and which parts of the vertical are we seeing growth in?
And just a clarification on the TCV. You spoke about MSAs and many of the short cycle programs where it's more about primary material engagement. I guess this is not really included in TCV because it's not predictable event and contracted demand?
As we look at LTI pre-merger, you used to have a seasonality in Q3 in Manufacturing, and we had thought as a combined company the seasonality should reduce. But this quarter, it looks like that’s actually magnified. Could you explain a bit what happened in Manufacturing in this quarter?
This quarter, when you look at the growth across client tiers, except for the top 5, it looks like there has been a decline in the top 6 to 10, top 11 to 20 and beyond that as well. So is there a broad-based slowdown still happening? Are there clients still cutting back on projects? Or do you think we are at the fag end of this?
DC, you mentioned that next quarter, we might have a little bit of a pass- through. So, would much of this go away then? And should we think about this as a headwind for revenue in Q4?
And this quarter, it looks like there is a significant element of pass-through because we're looking at your segment margin for Manufacturing & Resources, the segment profit seems to be actively flat Q-on-Q, while revenue is up. So, should we think about this going away next quarter??