Sumant Sinha: Yes. So look, as far as the element is concerned, as you know, we sit on both sides of that equation. We are both a developer and we’re also looking at getting into manufacturing. So we are fairly neutral to the — to whichever way it pans out. But will it allow us to commission projects earlier, not necessarily. And first of all, it hasn’t actually come out as a specific policy yet. So we have to wait and see exactly what happens. So I can’t say that it will allow us to commission earlier because we’ll obviously have to see where we can buy the modules from, what are the delivering time lines and so on. But to the extent that we can commission some of our projects earlier, certainly, we would like to do that because, as I was saying in my remarks as well, if you’re able to commission projects earlier, you are able to sell some of that power into the merchant market.
And I think one of the things that is emerging is like clearly it appears is that prices in that market are going to be relatively robust. So that opportunity potentially can open up. But we haven’t studied this specifically. So I can’t give you any sort of clear cut answer on that. Your second question on RTC, Q2 commissioning. Look, the RTC project, as you know, is comprised of five different or four different projects, three wind and one solar and then, of course, there’s a battery component as well. These targets should be commissioned progressively over the course of literally starting pretty much now onwards till the end of, I would say, Q2, Q3. So I think that’s what’s going to happen. The whole project — and so whenever the project is commissioned, revenues can start, whichever part of the process they have commissioned.
The whole project for us to then sort of go to SECI and say the whole project is commissioned might take till Q2 or Q3 of this coming financial year, FY 2024. So we are largely on track on the solid execution standpoint.
Nikhil Nigania: Perfect, makes sense. Just coming back with one last question, a small one. I continue to find the answer now. This is just on the balance sheet, on other noncurrent assets, there’s a jump of, I think, about INR 1,000 crores or $120 million. Possible to give what is the reason for that?
Kedar Upadhye: Yes, Nikhil, a couple of items which has gone up as you know, we have made an acquisition in a digital entity. And we are only a 40% stake in that entity. So part of that gets recorded in other assets. We have also made some advances to company creditors as part of the RTC and various projects. So I think some of these things get sort of reflected in the other assets category.
Nikhil Nigania: Perfect, thank you so much Kedar. Thank you Sumant. That’s it for me.
Operator: Your next question comes from Justin Clare from ROTH MKM. Please go ahead.
Justin Clare: Yeah, thanks for taking our questions. So I guess, first off, you had indicated that you expect further improvement in DSOs by the end of this year and then into fiscal 2024. I was wondering if you could just give us a sense for how much more improvement might be possible? And then just more generally, could you talk about whether you expect this improvement in DSOs to be maintained, so at this point, has there been a lasting structural change in the market where there’s going to be particularly lower risk of DSOs getting extended in the future?
