Sanjay Ladha

Yes, hi, sir. Thank you for the opportunity and congratulations on a great set of numbers. Sir, I just wanted to know we see a small moderation in our contract renewal rate. It used to be approximately 94% and now it stands around 92%. So is this just an adjustment made for Delhi Terminal 3 or has any of the concession expired which we did not renew?

Okay. Sir, my another question would be, since you already alluded the couple of manpower and operating cost has been done for the last, we have won for 4 airports and all of them , and the Bhogapuram airport is also coming up as you mentioned on the 17th August. So the cost has been escalated, but the margin has been coming forward in the couple of quarters back.

Sir, my last question would be regarding you are now alluding to the opportunity which is highways and all that. So for the last few quarters you've only said that it's a long-term play, but now when I see you have started alluding that you are looking forward to this opportunity quite robust. So is there government policies that been changing? Are we changing some sor t of strategically?