So, the next year, what we see is that it could be depending, right now we are about like less than 10% I would say for the next couple of years for sure is what would be because given the current revenue. Total, yes. Okay sir. And sir in which area AI, cloud, automation or digital transformation in all of this offer the growth opportunity for XT Global? So, we see a lot of growth right now in the AI and cloud technologies. We won based on the recent, we are getting into U.S. government projects, which we were not before. We were mainly focused on private sector until last year or the last quarter. Now, we won couple of new, like a general admission into a couple of government contracts right now. So, we still have to win the particular RFP thing, but we are generally into the system. So, we expect to see growth in public sector as well in the U.S. at this point of time in these technologies, modern technologies that we talk. Okay. Any more U.S contracts in the pipeline along with the expected revenue and current order pipeline. Yes, we do have, we recently actually part of this quarter, but we got admitted into general bidding for a couple of state, sectors. So, we still have to participate in individual RFPs, but we see that as a growth opportunity that we would be seeing in the near future, that our revenues in U.S. will grow in that sector for this market. Okay, understood. Thank you, sir. Thank you. The next question comes from the line of Omkar More, an individual investor. Please go ahead. Hello. My question is, what is XTGlobal’s strategy to deepen relationship and increase wallet share with existing global clients? So, can you repeat that please? It was little audible. What is XT Global’s strategy to deepen relationship and increase wallet share with existing global clients? Yes. So, right now, until last year, our major revenue was coming from existing U.S. revenue. And the major clients, especially on the product revenue, right now, we are about, like AP products about 15% to 20% of revenue is coming from directly SaaS AP product. That is based on their volumes is naturally getting increased in that revenue as well as we hide,

yes. So, for the other clients, right, we see, we actually added one client. That particular client just started using us and we believe that is going to grow a lot over the next year or so. Similarly, our focus is still on a few of the existing clients. We are increasing incremental revenue on them as well. And we are adding new clients obviously. Okay sir. So, my second question is, how does management plan to build scale in U.S. and Europe markets, particularly following recent client addition? For U.S., right, we have our sales team and U.S. So, we see, based on the public sector that I was answering the previous question, right, that is a segment that we never focused earlier. We have seen a lot of traction in there. That revenue will be natural addition. And this is more of a revenue in U.S., delivering in U.S. So, the revenue percentage will be high in U.S. because earlier, whatever we did last three years, Majority of them is offshore delivering. And Europe also, we just started, right, we just added our first client in Ireland, which we see that we believe that it will grow there as well. Thank you, sir. Thank you. Your next question comes from the line of Sahil Gupta, an individual investor. Please go ahead. Hello. Yes, sir. Please go ahead with your question. My question is, how does management see GCC engagement involving from initial teams, building into larger long-term strategic relationship with clients? Yes, so we are seeing like in GCC, one of our focus, because of our infrastructure ability and the structure that we have in place, we are targeting GCC customers in mid-market segment right now. And most of the mid- market that we are talking, they wanted to start with few resources or a small team to begin with. And then once they understand the delivery and then their internal processes, slowly adapt to a bigger set of team. So, we are in process of acquiring the GCC customers. When we say GCC, either with a small team with three to five members, so it can go up to 50 members, right? But that is one of the areas that we are focusing to address, mainly in the US market right now. And we see that that is an ongoing process for us.

Okay. Thank you. Thank you. Our next follow-up question comes from the line of Rishabh Sharma with VP Capital. Please go ahead. Rishabh, your line is unmuted. Please proceed with your question. Hello. Yes, sir. Please go ahead. Sir, my question is on consolidated revenue. So, it grew only by 1.1% year- on-year. So, what is your outlook on this? In fact, Rishabh, there is an increase, but there is a shift happening from onsite to offshore. In fact, there is an increase in client base. Because of that, suppose if you are building an onsite resource at $70, we have to build the same at $35 in India when we do offshore. So, in fact, that is the difference. Otherwise, in fact, in real terms, we are growing, but when you compare the exact numbers, that is the difference, actually. So, the shift is happening because of this H1 and other things. So, because of a lot of these curves and H1, in fact, we started long back from onsite to offshore. So that is the difference, in fact. Also, sir, on consolidated EBITDA, it has been improved to 7.6%. So how sustainable is this number? Yes, that number is true, actually. Because the expense is also drastically reduced. When it comes to onsite vs offshore, the offshore margin will be higher. Even though the revenue is halved, but the profit margin will definitely increase when compared to onsite versus offshore. The resources are cheaper here when compared to onsite. That is sustainable. Okay. So, the strategic plan specifically calls for the improved service mix and expanding recurring revenue stream. So, which services currently offer the highest margins? Yes. Our product and both finance and accounting services. Those two are-- Give me margin number. The product, we have a 25% margin, 25% out of our total revenue, 25% is product, and around 14% is coming from finance and accounting services. Those are recurring in nature. And they keep on adding resources. Suppose if you are starting with one resource for one of our clients, for finance accounts, they will keep on adding resources. Initially, they will start outsourcing the accounts payable, and they will add accounts receivable, and R2R, like that. For example, for particular clients, we started with one resource. Now we are serving for 10 resources, like that. So that is recurring, actually. Okay, understood.

Margins are on the high side.

Okay.

And to add to Raghuram's call, we have our Circulus product, which is an

automation product, that once the customer signs up and starts utilizing, we usually see a long-term engagement, and the profit margin is very sustainable, and that is a good way that is helping us grow the profit as well, on the product side. Are you planning on giving the dividend this quarter? This financial year.

So, this year we think about, but next quarter maybe we will consider, once

we declare the results, right? That is what we are going to be looking at. Okay, sir. Thank you, sir, and all the best.

Yes. Thank you.

Thank you. As there are no further questions from the participants, I now hand the conference over to the management for closing comments. Over to you, sir. Thank you.

Thank you. So, thank you all, and I would like to extend my sincere gratitude

to our Board of Directors for their invaluable guidance, our employees for their continued dedication, our customers for their trust, and our shareholders for their steadfast support. Thank you, everyone. Thank you, members of the management. On behalf of XT Global Infotech Limited, that concludes this conference. Thank you, everyone, for joining us, and you may now disconnect your lines. Thank you. (This document has been edited for readability purposes.)