Salil Parekh: Yes, there on usual, our new client, we’ve seen €“ while we don’t disclose the number, we’ve seen a very good new client acquisition in Q3. And then the consolidation of discussions where €“ so there is no contradiction in there to at least €“ both are carrying on within our sales expansion, new client acquisition continues to be important as well. Then the consolidation, what we are seeing is on several discussions, clients are looking, especially if they have six or seven vendors they want to narrow down to one or two or three, and we are appearing to the beneficiaries in quite a few of those discussions.
Apurva Prasad: Got it. Thank you, and all the best.
Salil Parekh: Thanks.
Operator: Thank you. Our next question is from the line of Mukul Garg from Motilal Oswal Financial Services. Please go ahead.
Mukul Garg: Thank you. I hope €“ to start with on the
Operator: Sorry to interrupt, your audio is a bit muffled. If you are on a hand speaker phone, please switch it to handset or something on your phone.
Mukul Garg: I hope this is better.
Operator: Yes, sir. Thank you.
Mukul Garg: Sure. So Salil, I have two questions. First, on the strong TCV wins this quarter. Can you at least let me qualify how much of the strength was on account of share gains, which you guys have made versus the resilience, which is there on the technology spend because if you look at the broader market commentary, and you have also highlighted retail as one of the weaker areas whereas you got seven large deals in retail. So if you can just help us break out these to get a sense of the deals in momentum?
Salil Parekh: So there €“ I’ll start with that. This is Salil. I think the large deal momentum for us is really a function of what we’ve seen that we’ve put in place, we still within this mix of $3.3 billion have digital transformation deal, and we have cost efficiency automation deals. What we mean by some of the industry callouts, for example, retail or telco is, there are some clients, not everyone in that industry, but there are some clients which are getting impacted by the economic environment. We’ve been quite focused. We have a broader portfolio. So for example, we showed up in retail, we have those large deals and the it’s a mix between transformation and cost efficiency automation. And so many times when clients feel an impact of the economic environment, and there might be a greater need the cost efficiency play as well. So we are ensuring that both of those engines continue to work well with our clients.
Mukul Garg: Right. And my other question was on the margin side. You guided for margins €˜21 to €˜22 bands with margins towards the lower end. Can you just help us maybe what the pools which you are seeing on the profitability given that the supply scenario is in rapidly. Is there some portion of the pressure which is on account of the higher share of cost efficiency deals, which you guys are winning with initial ramp-up cost, because if you look at Q4, obviously, Q3 also had the pass-through business, which got impacted. I’m assuming, as Nilanjan mentioned, there was some seasonality into that.
