Siddhant Mayecha

Hi Karan, hi Cliff. Thanks for the presentation. Just quick question, if you could throw some color on the contract backlog, like how do we read that? Is this committed rent over the next 27 months?

Got it, got it. So just one follow-up question in that case. If I'm reading this right, if it's INR3,400 over the next 27 months, that's about INR400-odd crores a quarter, but the current operating rent is about INR600 crores. So, is the INR200 crores non-contracted rent or how do I interpret that?

Got it.