Transcript of Earnings call held on 28th July 2026 for the quarter ended 30th June 2026

AI summary - Q1 FY27 revenue Rs. 358 Cr, +6.3% y-y; Banking & FinTech Rs. 200 Cr+, TIG Rs. 157 Cr; EBITDA Rs. 61 Cr (17%), PAT Rs. 45 Cr - Data center deal execution started; revenue ramp expected Q2 onwards, significant acceleration in Q3/Q4 - Banking software product build-outs absorb capacity; margins temporarily lower, expected normalization in 1-2 quarters - Middle East deal closures delayed due to geopolitical issues; normalization expected by Q3 - Data center business to grow 50-100% in FY27, remains lower margin but volume compensates - Order book strong; focus on converting demand to revenue with improved execution and geographic diversification - R&D spend steady at ~10.5-11% of revenue; productivity gains from AI tools offset capacity shifts - Cash conversion focus for FY27; expect improvement through year with no major acquisitions planned - Management cautious but optimistic on FY27 growth acceleration in H2; no formal guidance given