Infosys Limited

We Continue To Gain Market Share With Our Cobalt Cloud Capabilities And The Differentiated Digital Value Proposition For Our Clients. Growth Continues To Be Broad

based across business

5.5%

nk you all for taking the time to join us. We had an excellent start to the financial year with 5.5% sequential growth and 21.4% year- on-year growth in constant currency terms. 3 We continue

21.4%

time to join us. We had an excellent start to the financial year with 5.5% sequential growth and 21.4% year- on-year growth in constant currency terms. 3 We continue to gain market share with ou

25%

geographies. Each of our business segments grew in double-digits with several of them growing at 25% or higher. In terms of geography the U.S. geography grew at 18.4% and Europe grew at 33.2%. Thi

18.4%

s with several of them growing at 25% or higher. In terms of geography the U.S. geography grew at 18.4% and Europe grew at 33.2%. This indicates a healthy demand environment and is a reflection of how

33.2%

owing at 25% or higher. In terms of geography the U.S. geography grew at 18.4% and Europe grew at 33.2%. This indicates a healthy demand environment and is a reflection of how our industry-leading di

61%

r industry-leading digital capabilities are relevant for our clients. Our Digital revenues were 61% of the total and grew at 37.5% in the quarter in constant currency terms. Within digital, our clo

37.5%

capabilities are relevant for our clients. Our Digital revenues were 61% of the total and grew at 37.5% in the quarter in constant currency terms. Within digital, our cloud work continues to grow faste

20%

tal and cloud to the cost areas through automation and AI. 4 Our operating margins were at 20%. We have completed the majority of our compensation review for this year. Nilanjan, will also pro

50%

lights of our results are - We signed 19 large deals with a TCV of $1.69 bn. This is comprises of 50% net new work - Our onsite mix was at 24.3% - As we build capacity for the future, our utiliza

24.3%

rge deals with a TCV of $1.69 bn. This is comprises of 50% net new work - Our onsite mix was at 24.3% - As we build capacity for the future, our utilization was at healthy levels of 84.7% - Our fre

84.7%

mix was at 24.3% - As we build capacity for the future, our utilization was at healthy levels of 84.7% - Our free cash flow was strong at $656 mn - Our quarterly attrition declined. Historically, Q1

13%

outlook on demand opportunity and pipeline, we increase our revenue growth guidance which was at 13% to 15%, now to 14% to 16% for the full year. We keep our margin guidance at 21% to 23%. With the

“Additionally, we expect normalization of costs like travel and other overheads.”

“Whilst we retain our operating margin guidance of 21% to 23%, we expect to be at the bottom end of the range.”

“The revenue guidance for the year has been revised to 14% to 16% from 13% to 15% earlier.”

“So in that sense we are quite confident and that is why we have talked about 21% to 23% range and we will be at the bottom end of the range.”

“So you cannot just have higher freshers and expect them to start contributing from day 1.”

“But we think this is something which is going to stand up in good stead in terms of attrition and we have seen three quarters of the attrition benefits and expect it to continue.”

“The second is in terms of salary increases is it only for the associate level this quarter and if so then the question is that we have 145,000 associates JL3 and below and 130,000 people in the mid level and general understanding is mid level obviously as a percentage of the employee cost it should be higher so the thought process was about should not your margin impact be even higher next quarter - if you could just help with that thought process that will be very helpful?”

“And the way I would look at it is with all of that given our pipeline we have increased our revenue guidance.”

“On the guidance for growth, as we have shared in the past, the approach we take is we see how things are as we look at the financial year today.”

“Based on that, we felt comfortable to increase the revenue growth guidance, whether it is conservative or realistic that is the approach we take to make sure that we then share what we think the revenue is going to look like from here.”

Coming to segmental performance

1

Coming to segmental performance

We signed 19 large deals in Q1 with a TCV of $1.69 bn. This comprises of the 50% net new. We have signed 5 large deals in retail and CPG, 4 in Hi-Tech, 3 each in financial services and energy utility resources and services and 2 each in manufacturing and communications verticals. Region-wise 15 were in Americas and 2 each in Europe and RoW. In Financial Services clients continue to focus on digital customer experience, contact center transformation and virtual branches aimed at improving customer engagement. While the order pipeline remains strong across regions, we are seeing some slowness in mortgage industry and lending business due to increased interest rates. We remain watchful of impacts of emerging global developments on budget for clients. 7 In the retail segment the pace of Digital transformation large-scale cost breakouts and improving business resilience continues to be on the rise across various subsegments. Our focus on proactive engagement has helped us in creating a robu