Thierry Delaporte: Good question, Gaurav. So I’ll take a shot at those two. Aparna, feel free to jump in or Amit, if you feel like it. So on the first point, which is the focus on the larger deals, I think it was clear that back a few years ago, we were not getting at Wipro our fair share of larger deals. And large deals are giving you a certain level of resilience and also a certain level of impact with the client. And that is completely in the center of our strategy to develop, as I said before to develop strategic relation and meaningful relation with our clients. So to do so, we’ve started to build with our CGO, Stephanie, we’ve started to build our larger deals, right? It started with bringing talent, people that have been — that are big dealers that have been building larger deals in the past.
We’ve also obviously refocused our account executives and our leaders to be ready to go for larger deals. It has positioned us to engage at a different level with our clients. Let’s pay more attention to their priorities and challenges and be proactive in bringing back to them solutions that would address the challenges. And we’ve started to win larger deals. It started with one big one and then another big one, but it was more erratic at the beginning, and then we started to win more of these large deals and larger ones in size. And I think it’s becoming a machine now inside Wipro where as part of our deals, we have a significant volume of large deals every quarter. And I think we expect this to continue over the next quarters. So that’s on the large deals.
On the cost actions you asked, Gaurav. If I understood well, your question was how did you balance focus on…
Aparna Iyer: To understand there is a pipeline, is that you’re willing are…
Thierry Delaporte: So yes, that is — I would say, Gaurav, on the pipeline, I would say there is certainly an evolution of the type of deals that we are seeing, and the attention to cost takeout, cost optimization, margin, productivity and so on has certainly a lot bigger than it was some quarters ago. There is no doubt.
Operator: We have a next question from the line of Dipesh Mehta from Emkay.
Dipesh Mehta: A couple of questions. First, about sales and marketing increase. This quarter, it is showing some percentage of revenue. There is a good uptick Q-o-Q, Y-o-Y. If you can help us understand, what drives the significant excess sales and marketing? Related question is if I look number of new clients which we add every quarter, it is showing moderate and for last few quarters. So these to numbers are not matching with the directionally, if you can provide some sense? Second question is about, if I look reconciliation item. Earlier, we indicated talent to correction is driving that item. Now this quarter, again, it has increased,so 2.2 billion loss in the key line item. How we should understand this line item and how would you expect it to trend in coming quarters?
Aparna Iyer: Dipesh, to your point on sales and marketing expenses being high, it’s specifically in reference to one of the line items on depreciation and amortization, where we have taken an accelerated amortization pertaining to one of our customer intangibles. And that is why it’s a one-off and it should normalize over a period of time. The second piece that you said on the number of accounts being moderated, Thierry just answered that it is a part of the strategy. We are focusing on increasing and expanding our top client relationships, and it is in line with what we are pursuing as a strategy overall. So your third question that you had asked on the reconciling items. Last quarter, that is in Q1 of this fiscal, we had announced that in owing to turn in the macroeconomic environment and for us in line with all the transformation that we are pursuing, we wanted to be more agile and we had announced a restructuring program under which we had taken in restructuring expenses, both in Q1 and we had indicated that there would be a spillover into Q2, which has been now booked in the reconciling items.
