Salil Parekh: Thanks. I think on the first part, our sense is in the last quarter, so in this Q3, we’ve not seen any change in the work on those projects that had essentially a similar type of a trajectory. On the captive centers there, typically, we see that any time there’s new sort of technology shifts, whether there was digital or cloud or generative AI, there’s definitely more interest in some clients building out captives. Equally as technologies age, we see some clients are looking to exit and especially to be more optimized. And we’ve seen that in several of our large deals, if you look back over the last several quarters. We’ve had these where, in addition to the transformation, we’ve taken on the task of optimizing preexisting captives and so on.
So we don’t see a change. It’s just — maybe it’s that new technology moment where we see the activity. But we also see converse activity of things which were let’s say, set up five, seven, 10 years ago, which are going through that change or decline in that situation.
Manik Taneja: Sure. And one last question from me, we’ve been seeing our head count reduced for the last several quarters. Any sense on how we should be thinking about the optimization on this front given the kind of deal wins that we’ve had in the last three quarter?
Nilanjan Roy: Yeah. So I think I’ve mentioned that a couple of times, utilization is something where we have headroom. So the decline in headcount really doesn’t concern us too much. And both from availability of talent to ramp up, we have now have a very strong off-campus program. This is something over the last three or four years, we’ve perfected post-COVID. And that’s really on tap without having to give out requests to colleges one year in advance. And of course, from a lateral perspective, like I mentioned, with the market being soft, there is, of course, talent available that release. So in that sense, we are very, very comfortable with any volume requirements and ability to fulfill.
Manik Taneja: Sure. Thank you and all the best for the future.
Nilanjan Roy: Thank you.
Operator: Thank you. Ladies and gentlemen, that was the last question for today. I now hand the conference over to the management for their closing remarks. Thank you, and over to you.
Salil Parekh: Thank you. Just first, everyone on the call, thanks very much for joining us and for your questions. I want to just summarize with a few points. First, we’re very excited with the large deals at $3.2 billion, 70% net new. It really shows the foundation of what we see for the future. Very happy with the strong margin and also for an extremely strong margin improvement program that’s in play. Generative AI work is really pervasive. It’s across all of our client discussions, in our service lines and we believe we’re building extremely deep capability within our Topaz set of capabilities. We see continued strong focus on cost takeout, consolidation, and we have extreme strength in that. We feel good that, that will continue.
If that continues, we have a good play into that. And then finally, we feel good overall about the resilience of our business given the quarter and the seasonality that we had and the overall economic environment. We feel really good about the resilience of our business and the future. So thank you, everyone, again, and look forward to catching up at the next quarter call.
Operator: Thank you very much, members of the management. Ladies and gentlemen, on behalf of Infosys that concludes this conference. Thank you for joining us and you may now disconnect your lines.
