A couple of questions here. If you can talk about GST and the headwind that is creating, obviously, it has been significant. And yes, we will see it go down, but it will go down only marginally in FY28. What are your plans there? How are you trying to achieve that offset? That is my first question. Second question is, it seems like in terms of renovations, we are seeing that slipping into FY28 as well. Can you comment on that? How should we think about it? Are those final handful of rooms or is the major rooms being shifted?
Questions across 7 calls
Sameet Sinha
Macquarie Capital
Lemon Tree Hotels Limited
Question for you. It is interesting, you are already pretty close to the 20,000 rooms that you have been talking about for the last few quarters and you kind of vetted our appetite by talking about how we should expect to see some accelerated growth in rooms and pipeline. In that 5-year plan that you mentioned, are we thinking about 30,000 - 40,000 rooms, is that within the realm of possibility? That is my first question. Then I will ask a couple of follow-ups.
Okay. Got it. Okay. Neelendra hiring was interesting. Can you talk about how his experience with retail and footwear, athletic footwear, fits in with your thought about Lemon Tree. Are we talking about more branding? I am just going to stop there and let you answer that question.
Amber Enterprises India Limited
Jasbir, as you were thanking the Finance Minister, I was hoping to hear about the 20 -year moratorium on taxes for the data center industry and that you would have your products ready. But in the context that the defence sector took you, let's say, 4 years to get up to INR50 crores, can you kind of give a sense of where the data center products, how could that progress? And is that also going to take 4, 5 years to get there or it could be much faster?
Got it. Okay. The second question is, obviously, the story of commodity prices going up and down has a big impact. When do you think that, that ecosystem develops in India with CCL and other products, which will kind of give you that visibility and probabl y pricing integrity as you plan your business? How long will that take?
Kaynes Technology India Limited
My question was primarily longer term. I mean, you reiterated your $1 billion guidance for fiscal '28. So basically doubling from where you are right now, slightly more than double. Can you break it up for us? Obviously, things have changed a lot in the la st 9 months since you initially gave guidance. But how much of that is the core EMS, August, smart meters? Can you bridge that for us? Because I'm getting like a number like a 30% organic growth rate. So, if you can shed some light on that, like what are the key drivers of that growth?
Chalet Hotels Limited
A couple of questions. First is, Nitin, for you specifically. Can you speak about the margins in the Hospitality business? Can you help us through what's kind of onetime, what should go away next year? And if anything, else is going to be added next year? I can understand there's, obviously, some weightage on that because of the new rooms, new inventory that's been added? But anything else that we should be keeping in mind as we model this going forward? Second is, on this Udaipur property, obviously, it seems like very interesting pricing that you could potentially get this property at. Can you talk about the condition it is in? What sort of incremental capex, any timeline around that, that will be helpful. And then I have one follow-up
One final question. Obviously, now we have signed the trade deal with the U.S. EU was in the last 10 days. So, it seems like business opportunities will increase and hopefully, travel will also increase. Do you have a sense of what the FTA levels, whether they are above pre-COVID level or have they started to increase? Any sort of guidance on that will be very helpful?
Syrma SGS Technology Limited
Yes. So good performance here. So, if I'm looking at your full year guidance, 30%, 35% year- over-year growth requires -- so fourth quarter, you're assuming it implies about INR300 crores to INR500 crores sequential growth. How -- can you help us get there because that's a pretty sequent strong year-over-year acceleration that's required. Of course, Elcome will contribute. How much is Elemaster closing included in guidance? And then I have a follow-up question.
Dixon Technologies (India) Limited
Can you hear me?
Okay. I'm sorry about that. Yes. So a couple of questions. One is, Mr. Lall, I mean, obviously, memory prices have been going up for the last 2 quarters. There were some news stories about display prices also kind of going up. So it seems like o ther components will also be impacted. How do you -- in your opinion, how are the OEMs reacting to this? What's their -- they are obviously -- we'll probably see some de-specking, instead of 16 GB of memory, they'll probably go down to 12, keep the pricing the same, higher -end phones probably more price insensitive. So can you talk about that? Because I wanted to understand in that context, what is -- how about your economics? Would that stay stable? And my second question is, reading about some media repor ts about Motorola saying that they'll be using you for the camera module in their phones. So congratulations on that. Have other OEMs also signed up? And if yes, can you name them? And then I have a follow-up question.