Rahul Jain: Okay. And another thing was on digital revenue. For the quarter, it’s up 17% YoY or let’s say, CC would be 20% or 21%. This is like our slowest ever since we have been giving this time savings on digital revenue. So, is this a bit worrying, or is it more because of the furlough and any other factor?
Salil Parekh: So, it’s partially due to some of the changes that we were discussing earlier on in certain industries and sub-industries, we see much more attention to the economic environment. And the €“ we see some of the digital transformation work being slower where we see much more focus across the board on the cost and automation.
Rahul Jain: Got it. And lastly, if I can, is margin impact furlough was too high in the quarter. How has this shaped up in the current month? Are these clients resume to normal scenario or that will remain extended in Q4 as well?
Salil Parekh: So, we will have to see how it goes, it’s a bit too early to say what’s going to be the Q4 outlook on that.
Rahul Jain: Okay. That’s it from my side. Thank you so much.
Operator: Thank you. Our next question is from the line of Girish Pai from Nirmal Bang Equities. Please go ahead.
Girish Pai: Yes. Thank you. I just wanted to understand with cost optimization deals more in the pipeline and in the TCV, has the average deal tenure gone up in the last couple of quarters?
Salil Parekh: So, thanks for the question. We don’t typically comment on the deal tenure in terms of public statements.
Girish Pai: Okay. Can you say that the third-party, I think have given you a lot of traction in terms of getting deals. Now, the number has gone up from about less than 2% of revenue to almost like €“ I think this quarter it’s €“ in this quarter, it comes to almost like 6.5% of revenue. Do you see this number going up in the coming quarters and years?
Salil Parekh: Like I have said, we are offering it quite holistic. In some cases, like I said, many of the cloud-based deals come with services, there could be licenses, there could be DAS services. So, more and more integrated deals and then you go to IT-as-a-service, which is really sort of very holistic. We could see this. But I mean it may vary from quarter-to-quarter, you could have some quarters with that. But there is nothing to say that in the long run where this is going a bit early to say that.
Girish Pai: Okay. And lastly, from a competitive landscape perspective in the vendor consolidation deal, who are the ones moving out? Are these the global MNCs or these are typically Tier 2 vendors?
Salil Parekh: Again, on those, we don’t specifically comment on where we are getting the benefit of the consolidation. We are seeing some benefits coming through with large clients.
Girish Pai: Thank you.
Operator: Thank you. Ladies and gentlemen, that was the last question. I will now hand the conference back to the management for closing comments.
Salil Parekh: Thank you. So, thank you everyone for joining us. This is really fantastic to have our Q3 close out, 13.7% growth, 21.5% operating margin, 3.3 billion in large deals, very happy with that outcome. We can see guidance increase on our growth for that. And we can see both sides of our business on transformation, digital work and core services, cost automation working well. And so we feel good with the current environment and how we can play and support our clients on both sides. Thank you all for joining us and we look forward to catching up during the quarter. Thank you.
Operator: Thank you. Ladies and gentlemen, on behalf of Infosys Limited, that concludes this conference. Thank you for joining us and you may now disconnect your lines.
