Hi, guys. Three questions. I'll just put all the questions together. Raj, first question would be the growth outlook shared in the call, would that be in USD terms or constant currency terms? If you could clarify that, that will be great. The next set of questions are on Databricks. I want to understand the outlook for Databricks for FY '27. What's the kind of growth you guys are working with? And would it be fair to assume that Databricks-funded or cloud partner-funded projects will start coming in this year? And would it largely show up in CPG and industrials? And the last one would be the Financial Services business, could you kind of cover it a little more in detail, the sequential growth, Y-o-Y growth, momentum seems to continue. So again, kind of how is the outlook for FY '27, new logo additions? Or is it all coming from these existing set of customers spending more? So, these are the large three areas. If you could please address that will be great. Thank you guys.
Questions across 6 calls
Srinath V.
Bellwether Capital
Latent View Analytics Limited
Just wanted to understand data engineering, the kind of Q -o-Q growth is shown and kind of looking at your commentary, would it be fair to assume large part of Databricks and other hyperscaler work is in the order book and yet to see execution? How do you see this particular business growing over the next, say, 12 to 18 months?
Yes. About 18%, 19%, 20% growth on this INR 360 crores base would start to work over 5% kind of quarter-on-quarter growth. So would it be fair to assume that our order book is there, thereabouts in the execution pipeline to see that kind of ramp-up in growth over the, say, the next 2, 3 quarters?
I wanted to understand how did Decision Point perform in Q4 for the full year, if you could share some numbers? How are we progressing on integrating Decision Point with our CPG business? Our CPG business probably did not have a kind of suitable performa nce that we would have expected at the beginning of the year. So, how are you looking at it? And from my understanding of Decision Point, do they have the kind of capabilities for developed markets or are their products more suited for developing markets where we may also have some sales network where we can take them to? So, can you kind of explain how Decision Point and our CPG business will move forward, say with a kind of a 3-year outlook? That would be great.
So, you believe that this product can be basically taken to developed markets as is because it's a product stack, right, in that sense. So, that's where I wanted to kind of quiz you a bit.
Gravita India Limited
I would like to understand what are our plans in the rubber space? What are the kind of products that we are working on, what are the -- is it like a basket of products or is it only pyrolysis? So wanted to understand what are we doing in rubber, especially in India?
And sir, can you basically go a little more nuanced in each of these products to understand what is the kind of scale that we are looking at in? And these products, if sold into the tire universe, they all would require validations and the process, from my understanding, takes a bit of time. So where are we, say, in a carbon black? Are the carbon black producers started sampling our product? Just to get an understanding of where we are in the evolution, sir?
Supreme Industries Limited
Sir, I want to understand how the CPVC business is growing. Is it growing higher than the 4% volume growth we saw in the Piping division? And also, I want to understand, there is already an anti-dumping duty on CPVC. Is that market little more stable than PVC? Are retailers holding inventory. Thank you, sir.
Okay, sir. And how you see, given that the fourth quarter is normally the construction heavy quarter from a residential real estate. What is the broad outlook on CPVC now going into Q4 and next year, sir?
Devyani International Limited
Yes. Just looking at the reported numbers of the food aggregators and whatever newspaper articles we're able to get of the unlisted aggregator s, seems to be growing at a much faster pace than most of the listed QSR universe. And so I wanted to understand how is the competitive dynamics stacking up? Is there a shift in palette towards more Indian cuisines? Or how do you kind of read this data broadly? Would like to hear your thoughts.