LTM

“We delivered 5.4% year-over-year growth in H1 FY2027 and continue to expect stronger sequential growth.”

“So I will hold on to that and say that Q3 and Q4 will be better quarters than the first quarter for sure, number one.”

“And number two, FY2028, absolutely that is the aim.”

“Number two is that, FY27 overall year growth coming to the FY26, that is our endeavor. We will try, we are working towards coming as close as we can, coming to the FY2026 growth, right?”

“But in summary, I can say H2 will be better than H1.”

“We opened a new Global Delivery and AI Competency Center in Kolkata and expanded our BlueVerse™ Studio footprint to Hyderabad.”

“Our order inflow stood at USD 1.3 billion.”

“Our overall deal pipeline, including large deals, remained healthy.”

“Those deals happen to be the shorter duration deals, but it has a great opportunity for faster revenue acceleration because you do not have a long transition period that you associate with the traditional ITO deals.”

“Even in this deal value, the order book number that we shared, the significant part is ACV, right? majority part is ACV deals. But allow us one more quarter so that we can be very definitive on that.”

“So, you should see a gradual ramp up that is going to be linked to the hardware delivery that will happen in CBDT. So, we are pretty much on track on that part of the revenue.”

“AI revenue for the quarter has reached 13.4% of our overall revenue, a growth of 40% year-over-year.”

“Including enterprise AI, cumulative AI revenue grew 47% year-over-year.”

“Financial services continued its strong momentum and delivered a robust 3.1% sequential growth. On a year-over-basis, it has returned to growth, reporting 0.4% expansion.”

“Tech and services delivered a healthy year-over-year growth of 7%. Sequentially, revenue was lower by 4%, reflecting seasonal quarter-specific movements.”

“Production segment reported a sequential growth of 3.7% contributed by both Manufacturing and Energy and Utility segments. On a year-over-year basis, it grew by 7.4%.”

“added a financial services client to our USD 100 million-plus client category with further growth potential in the account.”

“This is a very positive thing for us that we are hiring people because there is that demand outlook that we have.”

“None of the tech customers are showing any signs of slowness in growth.”

“The top client that you are referring is an engagement which has gone through a consolidation from 50 plus vendors to about five vendors. And we are one of those five vendors, right?”

“This is the first $100 million account we have announced in BFS probably over the last few years.”

“EBIT margins came in at 15.6%, a 10-basis-point sequential improvement.”

“We are done with our wage hikes as well. So after absorbing all that, we are coming at 15.5% and 15.6% respectively in these two quarters.”

“So we do expect the organic margins to continue to hold on and improve further from here.”

“As I said that we are done with that productivity headwind.”

“The second point is that, yes, the margin profile, the gross margin level is definitely better than traditional services.”

“Our total DSO for Q2 improved by 1 day, closing at 84 days compared to 85 days last quarter.”

“The Operating cash flow to PAT ratio is at 39%, down from 79% in Q1. This is mainly due to certain advance payments and funding towards a one-time gratuity provision on account of labor laws impact.”

“Free cash flow to PAT ratio stood at 24% compared to 63% in Q1.”

“Cash and investment balances stood at USD 1.6 billion or ₹15,300 Crores compared to ₹15,021 Crores in Q1 FY2027.”

“So I think in this quarter we have done a substantial chunk of that funding. There is a deadline for that funding to also get completed, which is by October.”

“We recently launched BlueVerse™ OneToken, a workload routing and a governance layer that automatically channels enterprise AI requests to the right model at the right cost.”

“We are refining our strategy to help our clients to build and scale GCCs. With a new business unit, we will bring together a seamless operating model, governing entity, physical infrastructure, future-ready talent, and agentic process transformed with BlueVerse™.”

“Regarding our previously announced plan to acquire certain Randstad digital businesses in Europe and Australia, the approval process is on track, and we expect to receive all the approvals in Q3 as previously communicated.”

“And the impact on account of Randstad (Digital’s) acquisition is going to be more in terms of the amortization impact”

“I will share a lot more details in the coming days on the GCC business because that requires a very focused attempt in terms of how we can capture the bigger market share of the customers who wants to come to India and set up GCC.”

“The Board of Directors has approved an interim dividend of ₹.25 per equity share, an increase of 13.6% from the corresponding quarter of the previous year.”

“We do look at increasing the payout ratio and we have increased from around 40% to around 45% if you look at our payout ratio for last year.”

“But we still believe that the strategy that we are following will require reinvestment in business through M&A and organic investments both.”

“I think we are balancing our growth plans and the payout as per the Board direction and also the strategy that we have in place.”

“The PAT margin came in at 11.7% down from 12.7% last quarter as we had a one-time gain on the recognition of the value of our investment in Voicing.AI in Q1.”

“The other outflows which happened is on, the final dividend that we paid out in Q1, the TDS on that did not get paid out in the same quarter and that came out in the second quarter. That was another one-off difference between the previous quarter to this quarter.”

“And we also had advance tax outflows both in India and US happening in this quarter.”

“I think we had the gap of about 0.7% or 0.6% approximately, the growth opportunity that got missed out because of the impact that we had in the Saudi business, right? otherwise we would have been somewhere like 1.7% or 1.8% quarter-on-quarter growth, but it is what it is.”

“Rest of the world, I think as I said, it is the Saudi business, which was material for us this quarter. Otherwise, I would not have called that out, because there is an absolute revenue impact that happened due to the war.”

“No, we are not. In fact, we are going to get a benefit from it.”

“So similar kind of losses in terms of the forex losses below EBIT may continue for the next couple of quarters. But it all depends also on the rupee depreciation.”

“With regard to the LTM, big clients, we are done with it which essentially means probably 60%- 70 % of our portfolios, we are done with it.”

“We reported revenues of USD 1.24 billion, delivering 1.1% growth on a sequential basis and 5.1% growth on a year-over basis in constant currency terms.”

“At the end of Q2 FY2027, total headcount stood at 88,835, reflecting a net addition of 949 employees sequentially.”

“We created three new domain-specific small language models (SLMs) and were granted six AI patents.”

“Through our partnership with Anthropic, we have now fully embedded Claude and Claude Code into our BlueVerse™ AI delivery fabric.”

“Revenue in INR stood at Rs.11,808 Crores, representing a growth of 1.7% quarter-on-quarter and 13.6% year-on-year”