Infosys Limited (INFY) 13 Oct 212022 Q2 Earnings call transcript

Ladies and gentlemen, good day and welcome to the Infosys Earnings Conference Call.

As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. [ Operator Instructions]. Please note that this conference is being recorded. I now hand the conference over to Mr. Mahindroo. Sandeep over and you, to you, sir. Thank

Hello, to discuss Margareth. from Investors Bangalore. everyone, release. and call earnings the in team Infosys to Relations QX Sandeep welcome I'm Thanks, FY earnings 'XX

Pravin, this we us that Mr. the call statement to other Nilanjan say with be with refers start our for COO, explanation would are risks CFO, and conjunction and Company our the members call Joining the which Rao; by of statement, on future are and I now the management outlook Salil for Please like Pravin the along MD, which Roy; questions. of on Nilanjan a Salil. up with on can anything the these senior opening some it forward-looking performance the is CEO which Company Mr. in of in the that to SEC, color be Parekh; available found Mr. risks complete read with filings Salil, before We'll www.sec.gov. to A must on today pass that team. call note the faces.

you of more strength us had Sandeep. another the our the that call. joining trust you everyone Good clients to and trust digital safe gain share us, have capabilities. today. more and healthy. we that in families demonstrating your exceptional quarter market on I to evening, and with each in put with cloud increased for our you Thanks, share with are Thank good of and and delighted morning I'm

to currency and thank their constant quarter-on-quarter of incredible spirit. like dedication XX.X% the would Infosys Our year-on-year employees growth was X.X% I for in and entire world-class XXX,XXX terms.

we clients do work so the impacting. our made That for

was have great growth seen year-on-year in that this built and XX fastest on quarter time the quarter year. we years last a the Our was

increased at while forefront compensation we focus on operating delivered kept accompanied with has XX.X%. resilient employees our margins growth Our the in been We and by benefits. these margins

work even Our overall by and our growing resonating global is our now and of with our XX% grew are business is XX% faster tremendously our clients. capabilities digital Cloud revenue. Within cloud

with large their on example, deployment. We global Company, a private are working for cloud

working are and expansion. working public developments. of our We're sat several with on bank on cloud large the clients with cloud-native We a cancellations

the of results Some constant are: were and X.X% of of in year-on-year is other billion, a Revenues highlights currency, grew which business our our XX.X% X.XXX approximately digital X.X% sequentially by growth

sector services terms all XX.X% by largest by XX.X%. manufacturing double-digit had sectors constitutes reported year-on-year geography, of growth across asset and our is sales We growth. broad-based at grew by retail now Financial revenues. grew course our of of XX.X%. XX.X, our by sciences This life in by lines. grew All overall XX.X% well, America of growing North exceptionally service reordered XX.X XX.X%,

billion, at Our large our $X.XX strong deals were

mix to resilient XX.X% at and onsite cash utilization were moved XX.X% Free strong at was our XX.X%. at margins and million. $XXX operating flow

attracting later leading will digital comfortable with attrition to up our had their and transformation a XX,XXX, the increase remain headcount Pravin. Our We our to we net talk We the clients in with talent bit little moved call that more journeys. about a of support in from market. XX.X% ability

delighted number the global are our this of of graduates on. talent this focus our we and XX,XXX an quarter, college pool had people. with expanding Last XX,XXX rapidly are increase in year. also increased We for I'm

since have you carbon-neutral of many know, being XXXX. already As we

launch growth with are Our by the accelerating articulated, ambition of we create to for the which and XXXX on visibly to scales Springboard, Infosys students. our momentum millions is impact of building

currency. our to pipeline, to annual deal at guidance are now XX.X% XX% in moving in increasing momentum With we robust the start we're XX% previously, constant which financial to the good to growth strong revenue year, QX, XX.X% was growth

margin operating XX% remains XX%. guidance same, to the Our

We innumerable. have of last years of Infosys. an in My his quarter of journey in before and plans. which retires, his Company after Pravin's this with best business depth that of quarter, Pravin's, incredible special wishes to very be knowledge a full he are XX contributions will moment contagious will sense to I tremendous the his dreadfully Reason miss Pravin all future humor. in the

We updates. Pravin hand me for will With well the announce before Pravin coming note, down. our future weeks, his to let structure in it steps that

safe, accelerating parameters Salil. constant currency continued in you, you and further. business family both continued America all to improve two and and next at Hello, Thank broad-based good, Growth quarter double-digit growth XX.X%. and your with are everyone. across year-on-year growth X segments North with Hope doing healthy. Operating quarter Europe.

in an last clients and mix areas. client-facing the high low FX builds reduced resources of all-time backup new million services, X view each tightness, each built further two in driven up accounts XX XX.X% of and especially over the net supply on XX debt of X.X X XX%. new industry quarter each the We and manufacturing, million of X Your improved while in in X-month with X in to XX billion lifetime and totaling the new year-on-year. increase my Within of in height from increased the new quarter. was other and and from last services Europe, client interests rest growth X a increased attrition to added XX.X%, Client in metrics high-tech, over has financial Onsite XXX attrition segments. $XXX X retail the from TCV, communication XX.X%. the share world. large niche to increased and America, a debt and improved X The XX,

a the college college net XX,XXX have for year, to In quarter. and hiring, on single target XX,XXX basis, globally. the through program of [Indiscernible] hiring graduate in increased higher we onboarded than increased we have fulfill up highest several graduates; stepped of continue XX,XXX our full We over rescaling, usage We client have more balance a and commitments the added to and of employees hiring

their our targeted dependents Our portion Currently, over vaccine. activation rate continued unabated. in XX% least locations and across at of dose one for employees

number the quarter, last Infosys share to services, Services top was financial FX Moving happy in Starting the business ranked X segments. in Financial I'm with and XXXX. Banking XX Providers' by that to

unveil of was improved growth As lead growth Also and through growth continues and this share. past execute a transformation programs to analytics, across experience upscale transformation industry-leading several agenda. quarters. and AI and customer over and lead market the all begin America as has quarter currency our has on focusing strong this XX% year-on-year on large we increasingly branches, on momentum regions. constant basis some win North we demand There been cost

in and platform regional the and differentiated miming, management, in strong are and sub-vertical capabilities mortgages, services, banking, in payments retirement investments visitors big Our programs. building focused transformation asset at working not

strike strong to send-out the of domains, same in digital as digital a that transformation continued player for and of our new ready retail with plus plans in operations, technology segment Performance combination areas. capabilities. are We make transformation remained supply that food capabilities digital marketing, investments commerce,

are We a digital labor analytics, but on a like no promotion, consumer, digital security, focus areas seeing et cetera.

cleanup both launched platform significant existing prospective and plans. our recently Our traction from seems

basis. improved coming the expect steady both strong quarters. and have year-on-year on segment segment the in for meaningfully and pipeline a Communication sequential performance performance We

the deployment for increasing for bank roll-out building. We're upon momentum ramp CapEx a witnessing XG regions. On up the across new back-off

starting as utility leading with have renovations accelerated to which nutshell, was manufacturing and for large are cybersecurity, a we analytics, and energy data various etc. space last as future demand sub-segments and in the energy, in and assets across in on and up. industries. well Energy industrial, differentiator XG the in is efficiently the multiple aims a invest automation, across the ramp aerospace and across having Growth are additional the enable a the segment buildings. broad-based XG automotive, renewable accelerated and retentive to key quarter optimize with more transformation, services energy and in low-carbon supply with service continued Our and U.S., In to Clients Growth progress gaps integrated significantly, without the of developing OEMs. vertical its solution, to DSPs cloud made downloading further paying use and resources products promise capabilities prioritizing customer infrastructure. in Europe energy experience, as access the good growth clients users

of the of normalcy. cloud a quarter a XX.X% are of year-on-year in two, strong most supply seeing The manufacturing directs digital are Infosys will for pipeline constant return in digital Share continue this be currency XX.X% BPM of IoB growth We market-leading. increased growth continued We to migration transformation, and areas. deals. continues good cloud geographies digital pipeline be to witnessing to stable to DRP, and chain, as Infosys see to engineering, terms. strong revenues, bid the remained share in overall traction confidence that performance healthy in with a with slow

commerce, continued We focus around on see and transformation, experience. a to especially employee digital big cloud,

role to design, been areas to and conclude, hand and rest. you the hybrid the I by addressed services-related employee and services increased in leader that, will with digital of in have in the head experience cloud the extended in I shopping sales last working. the our for takeouts dangerous success modernization, tech ranked determinant I customers year. and quarter, big your wish data over of To want nine all support the have loyalty. our As Nilanjan. surpassed we to you both and customer analytics, you thank through because and artificial expense it great engineering, In been intelligence. have ILPM the Cost future best With digital improvement experiences, services, capabilities the

you in at revenue segments XX.X% Thanks, had quarter growth Pravin. thank the quarter back well. currencies. services, everyone, the and and a strong in on joining and We families accelerated Hope business very X. led your for constant which year-on-year you Hello, of all safe the by financial all grew are of program The manufacturing growth call. respectively double-digit X XX.X% and and strong

points also of remained of as resilient last improvement our comp the IPO the is Consequently, revenue back-off for the as margins basis major year North Sequential which net parameters upfront optimization at days improvement yield the costs, XX profit for The cost for XX.X% to America the X point that are and headwinds basis to in offset a a by supply basis as costs margin our cash and and and be The quarter in constant which effected and XXX.X% the constant last XX and increased compared QX. scale quarter currency, years. to in quarter higher X.X% for which upfront largely in year-on-year in cash benefit on Our collections. versus XX benefits, geography million. The last due X.X% growth. an constant unit improvement is each which increases July currency one. growth movement scale in any any largest on at movements. XX of to in growth QX, margins. components sequential cost the are due employee XX from by Free hikes decrease were QX operating it flow on in on XX.X% operational years. definitely growth XX.X%, EPS of salary a was challenges, benefit in point of also sequential the despite employees, dollar resulting follows: the basis. to operating XX.X X.X% currency. due for on activation to offset in grew will basis leading draw X.X% by XX.X% to the And the quarter currency was highest an days X.X% QX QX balance most return terms on in in X to site year-on-year growth the and best highest benefits attend for XX% XX year jobs taxes parameters, base, to grew and sequential most from

of the the has returned on completed leading we strong further a Return Even increased last after liquid buy-side increased the also at robust relating very recruitment, a in share a sensing We X.X% the per increase with of and debt-free on approximately X-year flow by consistent near of the capital to capital September an compensation, per board end buyback buybacks, in maximum and to to size return, future, at of and Company requirements. dividend allocation share, quarter of last to. an tightness the price acquire dividends supply have dividend Xth, over in and XXXX an repeat cash QX Sheet. buyback XXXX compared with a of coupled interim active. along over billion. We an of the XX% higher maintain has continue to capital $X.XX Consolidated in the free to interim policy. X.XX% growth with XXXX feel our driven average equal to close Balance dividends share, side, capital seasonal which be XX,XXX per the of investments this, approximately headwinds With XX% performance demand will that will result the prior costs and year, improvement The XX XX.X%, final environment were year. announced equity will XX%

we We XX% our can increasing ability guidance through measures for growth factory to XX% year confident strong and to these pipeline, from the With call margin for to within for full to revenue open robust However, questions. for our guidance partially XX.X% margin XX% the guidance efficiency the XX.X%, some cost that, our year. XX% year. of of of improvements headwinds we previously. are to we deliver the remain With reiterate operating a a cost well our the QX and offset

Thank much. you very

begin the [Operator Instructions]. question-and-answer now will session. We

is first go of Rudra question line Please Ankur The the JPMorgan. from from ahead.

you. Thank

all sense you very about with the to how innovator results. size. us if in could demand increasing -- guidance, about but of It's First Salil, see feel to nice a deals start give drop we you the visibility To on Clearly, a given guidance visibility large in margin see off upgrade. continue good the -- execution

that? So we about how think do

Salil. Thanks, Ankur, is this

of continue deals. good terms a in In demand, to see terms pipeline large of we

industries see relate of and and we are across digital capabilities We see trust all more accelerating their relate us data which in enterprises We work, cloud to transformation, that built. because are areas participating which and large more we this work. have is spend. Their to relate strong in analytics which to the

large in large there tremendous our seeing where Then existing So deals, base, is clients. the of the demand looking demand is from expansion the good. which from we're that is is piece, client which all our a

expanding million the this the and indication to of increase over right quarter look With we which back the are Some and both to time revenue you as clients demand feel year, of quite looking last now. growth this is that, the quarter number million, good stats clearest of number clients are XX on of the XXX guidance year-on-year. that good today that's and over on

So overall, with the and we've shape the still increased in demand the confident with quite way feeling good guidance.

Thank you.

strong been, about the supply to for this to on that Just side, how part onboarding, you do you on demand? comment a of graduate meet thing talent example, one with the the ability time feel reduce able continued the taken Maybe a for supply? have the to [Indiscernible]

here. Pravin, [Indiscernible]

have was added we XX,XXX to earlier, this based you we -- for campus Infosys history. think about I but and to I we can demand mean, if year ramp increase on in are ever the this fact the quickly outlook [Indiscernible] highest up recruits, quarter, year, quarter remember able We about in last XX,XXX been which this talked had probably

in and in another we or attachment anywhere It of have India made matter much allows have for turnaround us talent today, is the recruit So globally and the time investments platforms, things. we campus ability because access faster. types to the even to that the InfyTQ

revise if So need we or we are the deal needs, more with there's and are than it. it equipped that for pretty to confident to build

Understood. very good And Nilanjan, time. just clearly question last execution on a margins, this

about headwinds the you band could the to narrowed? not margin the band, tailwinds now, why also the it of been headwinds would you be the has are terms assume fair In And us? see while for and us narrow behind revenue comment

also, of I lows and some chain little historically, doing of we in operating so the out margin received, as as QX, an along and margin XX working future overall, to think mentioned hike more within Pravin for we're guidance days near I cost the far about, we and this skill-based going in We're I band. is is what we never quite the plans, -- talked have guidance in of, in think headwinds But compensation be. continue to up also XX. hiring also to the comfortable fact, will done And future. will we've seasonal rolled comfortable think perspective, stay see we with So QX we've we've necessary, headwinds the

And so narrow down historically. that don't we

[Indiscernible]. Thank you

Katri Thank the please Moshe line you. of The go next from from is question ahead. Wedbush,

maybe attrition also about voluntary there's the a break is been what results -- rates with to Thanks. been we're strong have Pravin, other Also we're working to broad-based, you pretty you. talk very great you doing questions, and really on high. going down and to by involuntary? of It's congrats and question more can Then Salil. experience the contain Two luck. bit a way miss a best one attrition

feel 'XX, Looking has year? we're about but calendar are at multi-year And for is getting budgets seeing quarters? a too maybe for we for part of you that been the this early, any indications Thanks budget that contacts, growth year, about the cycle in that spending this that the lot. specific still NC a a do bit the couple cycle strong of talking next

have is to well. have this time people and still the of having and experience, into base attrition targeted thank emotionally [Indiscernible] what skills, cost couple a probably this lead very this volunteer have demand altered instance perhaps done more was on. visits skills, sometimes, we due high mean, more altered not lack attrition LTM for around lower with two XX.X. mobility connected for unprecedented rounds a this in this in XXX, [Indiscernible] in are available number From so mean, [Indiscernible] of it the the countries. in the said people easier I of industry, [Indiscernible] we trend as around -- that mentioned But correction level. perspective, significant we new we for continue to or geography to back -- this has earlier are been to first mentioned because of done as once basis, of some of we between to for increased I much I the to year for contain Company Most an that's quarters well obviously and so, experience. that attrition to the but you expect And that, the had in has talent And have it's compensation of Tier the we talent, as retention X a wishes. demand, What as income seeing X skill on has we been that reviews real this, higher promotions,

also a have are employee focused of to IDPs, learning. a we We engagement, over lot development, X,XXX a mobility on lot a had lot people, we close on employee stations, connect of focus carrier continuous on of have lot focused

also are And new re-look to only strategy career not hiring big you the current introduced have the in also a and to shifts world. given are -- approach. thinking ramping talked launched fine-tune also have at we is up employee that but that our well. fundamental our means There's employee we post-COVID way proposition value we that In the digital that look high long initiatives the have at belief as we that. as We taking in that the we programs specialists, there. are term, also wellness fresh are behavior meet the out attrition, demands and several current the about, well, of so paths some aggressive we as And like in an entry-level, able

at hard an a taking started have from it. we attrition something That's talent that's perspective. and look So

lot quarters, the is this for intensity about pent-up that In are impact. And pent, of there few not budgets the from least realizing X-X longer think And demand. will we no at years. increasing of if context, various reports talk I in are that a because terms a there continue budgets, current

next talked the either One own probably the by kind an people next demand invited will operations maybe, least of My to enough it to X actually spending go net do report of the the this, there back at XX In that and form. sense X more thing the XXXX for that guards about that kind to of quarters. have is may and few not is that. context, I'm will years, see demands because But

color. the for Thanks

question of Diviya ahead. you. Thank the The next line from is from Please go Nagarajan UBS.

execution quarter. on congrats for the questions Thanks taking the strong a in and

believe puts a for Just you the headwinds quarter, and there in from end. couple some about Could questions are had takes of talk the kind there. margins of you that my this I

us maintain the through managed of to in X. So your margins run question percentage. number terms Please, how take

in cost due on the [Indiscernible] parameters. I benefits sequentially up [Indiscernible] a we to remarks to These rupee adulterating XX fact, basis XX think on The team that points XX with by margin basis cost XX in whole movements. broad-based and [Indiscernible]. that had growth straightforward due upon basis higher fulfillment. with a And opening was points my [Indiscernible] optimization walk. X.X%, the across going cross-currency were about offset basis benefit and points on finally, quite

and were optimization comp-highs by cost I negated think the sub-comps, and benefits. [Indiscernible]

how and in going on And think, that about to softest come, that started contribution impact you any any I at of contract Was how from from was revenues contracts or there forward? the margins? give on think some our or months yet came should all that is having we pass-through many that, anything there Pravin, from talked week sense of revenue on -- about quarter. a kind you us daily Could

strip I is out, manufacturing. can all both and even But can sequential we like it all that if strip on growth of course, rarely, the we intact So but basis. the across even a think, that [Indiscernible] you year-on-year see if see very quarter, you get broad-based and a we can't during out, numbers, the a between sectors,

than So it's said earlier, impacting more like growth. on icing a the I cake, underlying

into December think driven at seasonality of in a fair brands in top of that's that's going well. by nominal that's kind also? as should March? to seasonal is, that coming expect do something holidays you For about and or demand we a [Indiscernible] amount and last the Is coming slowdown we're of welcome, looking normalization my guidance or we should think that up seems question some how Which seasonality suggest

Salil. of And is said know level always some QX, you QX I Hi, and trend, less today QX our that, at seasonality historically. aware looks will in that at see reference There's we demand in that, least -- you're our QX, especially typically Infosys the which in typically environment Having extremely less this of furloughs. strong.

those XX, significantly. today So XX.X, things, XX level XX.X, have in deliver we From two we guidance growth. to know increasing yet, sure to we've of balance high to to making that that tried of that everything

see So we is overall yeah. a well, good There demand outlook seasonality. as will some

Thanks for taking my question. Pravin, it's I'll if been a And queue pleasure you. touch. working there's time. with you. come Thank Hope to stay in the in back

Thank you Diviya.

the question Agarwal Sandeep the you, next from Thank is of from line Equirus.

years Hi, Good your question only of for and one [Indiscernible]. [Indiscernible] composition evening. than couple that half that for great in of for it way numbers publicity of a coming, from next our be like for and more great the what fits announced question. is will -- best have taking Thanks the we business my I stint and luck really of on a digital. of business coming long, we Congratulation have looks the growth And set

up, sorry interrupt Mr. voice your sir. you We well. breaking hear [Indiscernible] to I'm cannot is you

on Can couple of you by we digital, same X/X years my in the is in with continuing digital. the hear growth hand me now? will probably phone-only, next I'm actually that question

front? in if on years; is digital the a seeing thought see towards you're will we actually does a the which So moving high-growth, see couple that or any longer-term saturation we be that growth, mean perspective from that also of that after some it industry not there

your So this is question, thanks Salil. for

with which terms is relating the that in seeing It's also and digital, difficult invested that over which past Equinox, that up everything see built we to is we of clients In to those example, the and in few areas for capability outs, strong of online scaled year we are seeing have capabilities called areas what launched We've have Other very you're more announced years, Cobalt. today. in which are to X mentioning. horizon in the demand space. e-commerce we the other

it, And where but indicate that would enterprises this journey. many digital up, is me guidance of Our their transformation everything Cloud is expanded which year, stages the scaling at to is large good work for this really ongoing. are early digital this and something we

in -- focused overall, don't the be the of terms in are is get but this optimistic of in the I on the stage, don't I'm see that late terms guidance quite future. I a we that So are good really sense place year. we this But to

all current lot. a quarter. That you. best the and of my for side from Thanks luck Thank

you. Thank

Thank you. of The from go Please next is question Pankaj line from ahead. the CLSA. Kapoor

of the situation or shedding Is Yeah. there If sense kind shift current in Thanks one-time of this to year? increase next are of we going you a have the give a for our XX,XXX. hire? because opportunity. the the Pravin, is think to fresh period this what plans structural in hire can way you some you for first [Indiscernible]

attrition. high on early outlook we're and comment It's too that demand based to seeing obviously the is It current Yes.

such they'd for it's a year, be take platform, to seeing the today, ability that investment the basis. but we're higher think And stage, one recruit next platform. early year similar lines basis, through and on the on assess a look my question, potentially probably bit but ability online it could all dynamic this several about at mentioned this they're shortage It's the quarter-on-quarter vehicle we'll believe a will as a whatever hearing a given our payers earlier, you we candidates profitable demand see of to quarters on the I to a this if talent to the But then you that globally. that of recruitment continues at next see, number in

we'll look So take at it.

and comment So beyond that. on at similar this stage of difficult lines, attentive, answer next to would be year

been obviously seeing last that And X have renewal on question Salil Understand. we pretty my X, have the quarters. dominating was the also in been which

the those of or legal taking them, context. more amusing decide of there, seems say getting deal clients than -- it? Any X be could in in new number back seeing just then Our fewer Our is longer-term terms reason be restructure what to behind deal slightly contracts than time XX% you the were around on to which of less X against. quarters wins Are solid sense what

this renewals, relationship They're Salil. have an where first, look is at on it, existing we They're the long-term we work. and that is -- do

We when expansion. make some the and we to to make that at continues. value to sure that want we is us clients renewals us clear stay that gives level that on very come sure it's because that longer need for And contracts why want more are -- us extension trust of absolute to a in up, critical in the look that's typically depending those

The mega-deals one year to pipeline we Pravin what earlier, Large in seeing, predict this each we When strong. one that's this the terms a good Those terms in we last show large is million deals. In that's had very of over the compare of new quite had are And for In our mega-deal being difficult things are they which deals, will one, which in. the we quarter. pipeline, robust. robust. last is that a Overall, number those. quarter is that number each XX shared in distinction things XX we up versus work, are very of quarter. representation deals have so

the quite we've -- things, our there to and therefore at given businesses. positive of for chosen those our outlook this increase remain is So stage, guidance our all on

best. the Understood. all Thank you wish you and

Thank you.

Thank you. from James The ahead. next Please from Friedman the is of question go line Susquehanna.

you you keep wondering but that. a sense attrition they let Any if lot pure industry I Thank where and and we're to. or years congratulations captives, at customers, over you it. I plays, tech know losing this is your would see appreciate when going from to we asked echo just to? getting industry the me the Are the people this, the you. level? do at about point Pravin, I've about to to stabilization the the Hi, in And learned

Thank Pravin you, here. it's

supply I we're well. maybe why not attrition flex-ups X our far quarters, this we're think stabilize the this the phenomenon the industries seeing across at stage, seeing next that's outstripping only with in in demand and The available of but other industry, and talent. talent as to that's perhaps even X given globally, even is will us, touching this

become of a we competition, people thing, captives, we recruit is we common they're so right? going, also it. of from lose also where Typically But to In losing part one it's mean, people terms seeing are competition we're a to people I course, a again, India also startups we're and recruiting, candidates unique things. again seeing have of on we the have now attractive to very of hyperscale, -- in lot content. started of that's with and losing losing combination

influx I should that it with able in more that will quarters, into the [Indiscernible] X-X under and bring We control. [Indiscernible] we believe the happen aggressive be to probably think this back that next [Indiscernible]. the to next,

the all Pravin, you, best. Thank

Thank you.

question next Sudheer from the [Indiscernible], from The you. line please go of Thank ahead. Guntupalli is

giving for opportunity Thanks this good me on gentlemen. evening Good and congrats a quarter.

[Indiscernible] to little offshore, opened Firstly, share this despite. of the what a general, up. [Indiscernible] And [Indiscernible] onsite-offshore X. higher is not that I'm quarter, in acquired number Nilanjan the as in would the It's didn't able share up show beginning, reasons this on-site think effort completely, that down up of mix have share you're these And as travel a just Anything curious quarter. offshore site why also I third higher has there? in despite split. ramp-up on the And on be has expected up. would bit in I to efforts to ramp come initial in show might so of phases, on-site.

Daimler's run one on quarter, suddenly business fact ramp-up large a market's that we think, one we on and we I have. said, like It's which in the Yes, not day. everybody Daimler fact like last it's worked I is

these So global a importantly now more movement. trend, more there's onsite-offshore to level. at demand seen said, was see But Lipson you've secular see TACNAV, you think like I would quarter but it I and last mix

get talent greater sustain in available it's the if some, to and run because think talent really long quantity and in digitally from going be largely skill to going here is than India. I that's skill

continue So numbers, hire while locally we large in to

and already over will the reached our years. you volume growth to within that XX,XXX We move you the localization, hires despite In that, if offshore. more XX%. more U.S. continue towards than announced mix technically see X has additional the But

if at cable the where seclusion, X question, the you my Salil, the experience to is X-year And seen actually which bracket. is Okay. market we second look in highest for had

you negative has in if could seen entry-level the [Indiscernible] or much entire this years, salary [Indiscernible] see, perhaps of deal industry at XX the real talking basis, of the a last basis if territory. So revisions. not I'm perhaps just On help see, it level not industry. real about you

lane, say seeing today? experience down as of Now this might demand some have it which impact or kind expect the for when sort of we're given levels, not the years X on salary longer-term bracket, demand the can a we as robust X be margins, in structural increase let's the is can

function [Indiscernible] think recruit people business I See it's as become on lot before salary more But this increased in dramatically. in and them the productive. training to they may they in ride because take [Indiscernible] a and the enabling -- of a entry-level

the well. gem people have they got different X salary shifts between along way really a as would So good quitting, the

least [Indiscernible], there'll don't connections be time, but same I -- see actually then mean, some there, So some and [Indiscernible] the here at at entry-level I the other perspective.

as attracting then passing these well none mathematics to set started we for selecting They're that to -- If one compensation. is criteria we're as recruit these entry-level and in thoughts. we recruiting one pass able s, are it's couple very And higher And have other that, print There's are one things, programmers also is called candidate. them called of differentiating the We this extensions. them a and a up higher stringent at compensation. [Indiscernible]. also follow-up [Indiscernible] screens at and people groups background created

looking feel different and are capabilities are declared rather that strong recruiting skills we forward, at than we So very at trying skill, -- in where right? immediately, because we to they But going people with the come rates. within compensation entry-level, and the can are be we differentiate, that

interactions insightful. best have for Thanks, the Pravin, and As always, been all you Congrats endeavors. always very with future your

Thank you.

Thank question BMO ahead. Please you. is Capital of from Bachman Keith Markets. The from next go line the

And did wanted to -- year. you, you improves next to slows is thank think your understand attrition. very you because much. think more or with demand Hi, And improve can And that can industry and is attrition I thinking that hire And as fundamentally I you referenced, wanted to something it stay moderate but wanted that. more demand you comment about or allows I also an there's issue. that across to freshers make industry? meet continue attrition maybe it the ask the specifically, to you I But at don't disagree these it's you a problem. but levels touch, to some an industry

increased attrition. on substantially Your numbers quarter-to-quarter

because such to you why attrition wanted about, is a then a more just a significant please. And problem, little not I improves, think bit so follow-up, emphasis industry understand there an And just issue. have

seeing in, that the primarily Yes. Pravin, mean stabilize will I continue of attrition the demand because [Indiscernible] all we This down I by least to yet today some demand is And of our not But of to those India take problem. attainment will think it's infrastructure -- [Indiscernible] at we're particular in in coming from of account. that's geographies the we're geography people paid-off there's even not need. in deploy are able because where

also every in of campus time, not Company, almost XPLs talking hiring only many period aggressive some But think started Infosys, I but well. of as a have for about announcing,

available to supply expect of are hide and far availability is. they in we challenge and supplies the attrition our and be them then these the the now, to we deployed So talent that's demand to come and out higher demand, once be meet able will where Right appropriately, to biggest skill that's talents when will result that and down.

this strategy suggests in your a managing headcount? Does your you Do otherwise? this Because of different in think it versus you other of like capabilities, to Does it diversify? strategy, do different words, it's you or significant sounds Europe on much think think markets. -- management need more broadening you terms the other problem reach -- supply suggested is headcount Eastern India in suggest Okay. a

A couple availability, terms that. of any course, can of One talent think don't quantity, in country of skill things I match of and in is right? terms other

So and hearing India that I things so -- you think other From only. of the in noise are most that extent from

this kind So I second that one is, very one phenomenon. skill, any that's why talent countries being it, of to that other because is the provide saying with didn't see of only able And unusual we're part [Indiscernible]. so

for We have the have not have and have think complimentary been a long ideally we for of kind XX lot training, of our of might kind of people seen this of our period talent better seen the Infosys [Indiscernible] have many leaving, of talk object time industry clearly kind of in an time been we about the this -- years, stuff and when thing. to they're the culture, kind And when them very everything, are about just stepping most be despite also and on from particularly a good up no compensation some and to the significantly being is get, interventions saying But they're they compensation are have standard to opportunities compensation and of higher, kind up And despite time, are criteria. they're same for the very of get the or the aggressive things. all option go big but offered and companies talent. today, them other to HR at other who seems attract scaling [Indiscernible] the of they things,

that with is correctly don't direct up with and get more mandate will a offered, people thing, of are data. that they connected the really, them. People Wherever [Indiscernible] that do reason. senior-level things. to Company. that all, for the they end would is mid-level some senior-level, say other an seem you So connected this the emotionally, getting. of -- And I That they're unusual like Company, industry we welcome. the much they and understand And before understand fully that not are culture, but

and becomes the So but attractive [Indiscernible] better level is they [Indiscernible]. of that felt they're some lightly what that -- a works challenge. junior your at

you over just can we don't couple of mentioned a But does reported Okay.One see more then will quarters, that number manage times number the quarters. so see floor.You get improving investor of of the next I next worse couple attrition the expectations? over your

I just [Indiscernible], clarify that. to but want because didn't I get

available products. your if clouding happy be so If a but That is take what I'll that question, will to respond. meant, [Indiscernible] That because I before that didn't you you some them, attrition repeat that them, be couple can that's time get time and a I meeting, train a everything. [Indiscernible] take [Indiscernible] will probably to before of before take really recent quarters

does number and gets get worse -- get better? than can -- September me December and quarters, reported December March it does attrition -- it attrition before attrition your than Does excuse worse the in

not through it's this through that. It's yet, [Indiscernible] it's to client's and We planned At hiring, comfortable reskilling other meet said subcontact. stage, but But to big commitments. through predict. expectations the using difficult difficult to predict the as are I and we hope earlier,

Okay. Many congratulations thanks results. on solid and

you. Thank

is question from Kawaljeet please the next line The Kotak, Saluja you. ahead. Thank go of from

you. lot a Pravin, I have learned everyone. from Hi,

that and back that So in of is touch. please couple points the order you, of XX%. of Nilanjan for to Nilanjan. percentage is to offshore impact for stay that I up approximately a one Pravin Math, wage represent basis the and increase, questions, revenue mentioned question for XXX have you a the one is your wages,

So that sufficient is over just current equates mean, that I increase to environment? in effectively. wage X% the

the for in only rolling So of a to is holders of entire mix skill-based a onsite offshore, intervention things, both, there's more from is couple October, up that course compensation one JLXs. also changes. the whole out key and October, it We've and of planned are we senior

industry, done something well. said, we June. the goes in keep need we course do said, mean, at like well, gain. in Not as It key do something but we of something up, in as mentioned, talent we to I higher in January is are I know, of cost the whatever you rotational the the And September churn as back, like same as So because will did even level, to going laterals we've we we some is required. lateral lose, then

Somebody churn. else's else's lateral John. else's somebody somebody is

of whatever do it's to the less yeah. [Indiscernible], day, are really the of is to up only ways for. the points have come comfortable of will terms fulfilling in really asking think an seen actually of one our at quite is But effective that of easing terms in up. the you And going end in in the pressure perspective, the preference guidance, not difficult [Indiscernible] the start even from perspective, margin clients course, we we from best sense are we can So required industry investing, I a wants onboard what but of is

in see I levels. impact wage be Let's do revision? back lower there, going can of say they December new Wonder, to because

rather So offshore -- that it percent the number. competition the would of a would mean, overall be or page impact higher impact I

December? So redoing what is in the impact it of

senior but the but a the Because wage at out is than amount margin we definitely give impacts we headcount much, the on have the of lower rolled is than really out overall call can't much impact. smaller you -- level don't what number what's

-- And second the that, thanks that. Got Nilanjan. for

is had I second for Pravin. The question

down. Now, utilization way it Pravin, we direction, have been logically wired performance whenever done historically? think in the go rates up, this But the out, the be you do wouldn't your that to your go moving rates When time is this same paying career that historically rather has around attrition unusual. which really this guy seem start

up, about goes mean, you're about sure so we're co-relation the not the Kawaljeet, for So are and sure I'm where will to [Indiscernible] not talking the be natural of meet right? fulfillment, -- for as sure I'm talking I not about attrition latency improving I'm if that contrary, but co-relation Thanks deprecation, question. you with the

Sorry. interrupt you, to I'm Pravin. sorry

larger which attrition that environment, think growth needs fulfill growth indicates a growth that. customer But attrition I straightforward, bench. bench when high normally higher, a require to greater about healthy is And -- again, environment you Sorry environment also in demand. also project a healthy logical, a it so indicates a

was So the that behind that statement. logic

there some right that you you wherever is at them But utilization reskill said time. have? higher well. I have [Indiscernible] do. include at That increased Subcon mean your in To train them no and also we is gaps the as and there look and seen we Subcon means fastest existing for to thing deploy are as will I then to Okay. deploy, look current the and take [Indiscernible] that people supply, anyway situation,

are customer. demands the high -- lack we can as of of meet For talent our of utilization we availability function of as to the and of much is [Indiscernible] differency

of all Okay. congratulations you to and quarter. great for a Fantastic. Thanks

you. Thank

Morgan Gaurav question ahead. the go line next please The from is you. from Thank Rateria Stanley, of

and all big performance questions. Hi, Two congratulations Pravin. on the best to

of and rates, the puts at well. very travel we various high is When XQ, are to We expenses, they half. second take like higher attrition in question the the first is large the look want impact takes which place rising understand on margins. full ramp-up, to a margins just for deal The Nilanjan employees, on continued you section potentially, as in of headwinds,

can the just bag. impact in So the these [Indiscernible] trying are to some within to offset tailwind understand what of margin help that

because so in DCs cost onsite year because in and mean but helps is this of impact people costs, in I the will on address X,XXX [Indiscernible] can't etc. more headwinds me, also this I an offshore I cost. XX% global mean the very retention, also think DCs ongoing location, you have make base, having onsite can in have it I onsite question yourself really unless said, but the both For think we it well, compensate But these these easier program, onsite, to as the cost mentioned [Indiscernible] than in I the [Indiscernible] west. now companies think you have X we demonstrated so makes hiring, business, the actually, Where on shares we're a you we offshore. I now as overall answered we automation. we onsite going optimization on are half among [Indiscernible] Like you a would an like have broad not really our strong and [Indiscernible] quarter mix, Onsite for had know,

constructs. leave start the But much more pricing. on, all innovative was sales greater a get this, stock. force if on on with value, is rate sell of a this And is market holistically our to looking time, to working those go a I something this price but there idea at time more and we're table sell this hikes the bold on think although I So on on in long not terms any at in on easy commercial bit be basically guess more to and our it's XX,XX haul, not is also pennies it's going to to pricing it how now. But how

With XXXX. which may level. is will we deals not the say as Calendar as to higher to say you. new in visibility be the year which at XXXX, when we Calendar enter necessarily already the it Fair large to entered that to XXXX, and is the get than Salil. a that liberty visibility high bag, was the of question the My Calendar very second current visibility we case, than be respect fair given relatively usual was XXXX, the a lower Thank very, into amount

When from Hi, the while thanks This for will that from was And quite was year, the we the quarter. in the think guidance. always this a that pipeline way the often something because than we seen geographies. guidance increased there of last quarter. digital you've increased the healthy now had further overhang world, the was that all initial is guidance We've question. We within recall see financial Salil, I relieved situation year us you financial COVID the started at we all it we perspective. look this of business,

for visibility the we've good year extremely have we this with financial So guidance given.

Now, us that that have is continue finish new good financial and quite as we journey. get QX, of long My clients like. what to the a And out demand following as year the start and will really QX as we to own look of start have we idea is will the to be help into will sense the Cloud build digital part certainly comprehensive. well, capabilities we and

us So the now increasing more confidence guidance year. gives this financial for

you Got much. so it. Thank

to today. hand was last the for now gentlemen, and that the Ladies for closing you. question Thank the And over management I'll conference comments.

going I'm a to Thank so you, couple everyone. of closing. in This just is spend Salil, minutes

the of XX.X% XX terms best that quarter we've in First, we've years. had in had growth,

that of client have sizes. seeing It a will we large into existing the sold different is components which strong. the doesn't revenue or one in outcome. looking we demand the deals deals, that extremely good including with still in are large There we billion So be This delighted we demand, base with quarter. have X in demand. There's pipeline are amount this The multiple bucket. come is incredible have, that huge

client good last at looking where week client with are account we digital today. CIO, are every multiple thrilled our see with I an that. XXX base to Then cloud. talk see not, in people we a at extremely have are of the in Some million and some our Clients the large, that a housing demand set expansion we over we were capability in a and in already traction but really meeting capabilities

mentioned, that our Second, some the with will strong, we margin costs we doing talked the that given. that guidance advanced In margin additional operating efficiency well. course, of resilience and very we've come we're Nilanjan do as about, is really that, we see comfortable

talked we that a a detail. lot Pravin of Third, gave lot

on our expanding play services medium-term extremely are and taking Fourth, guidance, our I We overall, bullish is our the continue. growing future capacity so at growth. long-term. we the will because personally supply that optimistic increased remain And that will tech make in, about we the business is in XX.X-XX.X we've positive brand with training are with XX%. the sure and we that we're have incredible supply demand the And and

please thank and everyone for joining and healthy. you So safe us stay

joining members may Infosys, much your disconnect concludes very the Ladies you gentlemen, Thank conference. of you and that now and behalf line. of this you Thank us management. for on