Vishal Pandya

Thank you for the opportunity I just wanted to understand if there is some kind of competitive pressure because we have seen that the EBITDA margins Q1 FY2027 Earnings Call Transcript and the PAT margins are on a declining trend from last 3 to 4 years. So can you throw some highlight on that? And how can we kind of improve that?

Okay. Let me put it on another way. Is AI being a beneficiary to our business? Or is AI a threat to our business? Because of AI, are we losing that competitive edge in the market or something like that? Can you throw some light?

So as of now, can we understand that there is some kind of revenue deflation because of AI that we are facing?