Analysts/Institutional Investor Meet/Con. Call Updates

AI summary - Revenue $317.1mn, +2.7% q-q, +4.8% y-y in constant currency; EBIT margin 16.3%, +60bps q-q - Large deal TCV $203mn; 50%+ AI-led wins; EI annualized revenue $120mn - Sustainability segment grew 13.4% y-y, now 30% of revenues; Mobility and Tech segments stable with margin gains - EBIT margin target of mid-16% achieved ahead of schedule; margin levers include AI, operational efficiency, and segment mix - H2 FY27 revenue momentum expected to strengthen; 13-15% revenue CAGR and 16-17% EBIT margin targeted over 3-5 years - Offshore mix 55.9%, fixed price mix 35.6%; attrition 14.7% - Q2 EPS ₹35.78 (annualized ₹143.12), +23.5% y-y; interim dividend ₹20/share - AI revenue recognized when significant part of deliverable uses AI; premium pricing applies - Wage hikes effective Q3, expected margin impact 50-80bps - European Auto segment muted but expected to recover in 9-12 months; growth driven by US Auto, Aero, Rail, Trucks - Data Center engineering business launched; multi-layer AI infrastructure services expanding - Clients shifting spend from legacy to AI-led engineering; LTTS ahead of peers in AI adoption - Deal tenures stable or slightly longer; large deals typically 5-7 years - DSO stable at 78 days, below guided range - Management cautious but optimistic on growth despite macro uncertainties