I welcome the members to the 45th annual general meeting. Hope all of you are safe and in good health. This meeting is being held through video conference in accordance with the circulars issued by the Ministry of Corporate Affairs and SEBI. Members participating through video conference are being considered for the purpose of quorum as per the circulars issued by the MCA and Section 103 of the Companies Act 2013. We have the requisite quorum present through video conference to conduct the proceedings of the meeting. I call this meeting to order. Before we start the main proceedings of the meeting, I request my colleagues on the video conference to introduce themselves. Nitin? Hi, this is Nitin Paranjpe. I'm the Vice Chairman and Independent Director of your company, and I'm calling in from the Netherlands. Salil? Good evening. Hi, I'm Salil Parekh, CEO and Managing Director, joining in from Mumbai. Welcome to the 45th annual general meeting. I hope all of you are well. Sundaram? You're on mute, Sundaram. Hi, good afternoon. This is Sundaram, Lead Independent Director and the Chairperson of the Nomination and Remuneration Committee and Risk Management Committee. I'm joining the meeting from Mumbai. Thank you. Mike? Good morning. Good evening. This is Michael Gibbs, Independent Director. I'm the Chairperson of the Stakeholder Relationship Committee and the Cybersecurity Subcommittee. I'm joining this meeting from Houston, Texas, in the U.S.A. Bobby? Hi. Good evening. I'm Bobby Parikh, Independent Director. I'm the Chairperson of the Audit Committee of the company. I'm joining this meeting from Mumbai. Chitra? Hello, this is Chitra Nayak, Independent Director and Chair of the ESG Committee, joining from San Francisco, California. Govind? Hi, this is Govind Iyer, Independent Director and Chairperson of CSR Committee, joining in from Mumbai. Helene? Good evening. I'm Helene Auriol Potier, Independent Director, joining in from France. Diane? Hello, good evening. This is Diane Jurgens. I'm an Independent Director. I joined the board in April, today I'm joining the AGM from Greece. Jayesh? Hi. Good evening. This is Jayesh Sanghrajka, Chief Financial Officer. I'm joining in from Bangalore. Thank you. Mani? Hi. Good evening, everyone. I am Manikantha, Company Secretary of the company, joining in from Bangalore. Thank you. Apart from them, we also have key executives and senior management joining from their respective locations. Statutory auditors and secretarial auditors have also joined this meeting. The company has taken all feasible efforts to enable members to participate through video conference and vote at the AGM. I thank all the members, colleagues on the board, auditors, and the management team for joining this meeting or video conference. I now request Manikantha, Company Secretary, to provide general instructions to the members regarding participation in this meeting. Hi. Good evening. Members may note that this annual general meeting is being held through video conferencing in accordance with the Companies Act, 2013 and circulars issued by the Ministry of Corporate Affairs and SEBI. The notice of the 45th AGM and the annual report for the financial year ended March 31st, 2026 have been sent electronically to members whose email addresses are registered with the company or with the depositories. In addition, physical copies of the annual report have been sent to members who have requested for the same. Further, the company has sent a letter to shareholders whose email addresses are not registered with the company or depository participants, providing them the web link for where the annual report can be accessed on the company's website. The facility for joining this meeting through video conference is made available for the members on a first-come, first-served basis. The company has also provided a webcast facility to view the live proceedings of this meeting on the company's website. The register of directors and key managerial personnel, the register of contracts or arrangements, certificates as required under SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, and other documents mentioned in the AGM notice have been made available electronically for inspection during this AGM. Members seeking to inspect any of these documents can send their request to the email address investors@infosys.com. As the AGM is being held through video conferencing, the facility for appointment of proxies was not applicable, and hence the proxy register for inspection is not available. The company has received requests from a few members to register them as speakers at this meeting. Accordingly, the floor will be open for those members to ask questions or express their views. We will facilitate this session once the Chairman opens the floor for questions and answers. Members can also post their views or questions on the Ask a Question tab on their video conference screens before 4:30 P.M. IST. It may be noted that the company reserves the right to limit the number of members asking questions, depending on the availability of the time at this AGM. The company has provided the facility to cast votes electronically on all resolutions set forth in the notice. Members who have not cast their votes yet electronically and who are participating in this meeting will have an opportunity to cast their votes during the meeting through the e-voting system provided by NSDL. Members can click on the Vote tab on the video conference screen to make use of this facility. Members are requested to refer to the instructions provided in the notice or appearing on the video conference page for a seamless participation through video conference and also for voting. In case members face any difficulty, they may reach out on the helpline numbers. Members may note that this AGM is being recorded. Please do not disclose any sensitive personal information or personally identifiable information belonging to you or any other persons that has no bearing on this meeting. Thank you very much. I now request Nandan Nilekani, Chairman, to address the shareholders. Dear shareholders, welcome to the 45th annual general meeting of Infosys. On behalf of the Infosys Board of Directors, I appreciate your support for the company, and thank you for taking the time to join us today. Fiscal 2026 has been a year of disciplined execution and resilience for Infosys, even as the external environment continues to evolve. We delivered $20.2 billion in revenues, growing 3.1% in constant currency while maintaining a strong adjusted operating margin of 21% and generating $3.7 billion free cash, which is 112.6% of net profit. This is the second consecutive year when we have generated free cash flows of more than 100% of net profit. Large deal TCV for Fiscal 2026 was at $14.9 billion, with 55% being net new. This reflects the strong trust our clients have in us and relevance of our strategy and provides a robust foundation to build on in the months ahead. For Fiscal 2026, the board has recommended a final dividend of INR 25. Along with an interim dividend of INR 23 that is already paid, total dividend is INR 48, which is 11.6% growth year-on-year. The total payout for FY 2025/2026, including the recently completed buyback, will be 113.9% of free cash flow. With this, we have returned 82.1% of free cash flow cumulatively for two years under the capital allocation policy. Nitin Paranjpe, who is an Independent Director, has been appointed as Vice Chairman of the company effective April 30, 2026. During Fiscal 2026, no directors or KMP were appointed. However, post-fiscal 2026, based on the recommendations of the Nomination and Remuneration Committee, the board appointed Diane Jurgens as an Independent Director effective April 22, 2026, for a period of three years till April 21, 2029. The Nomination and Remuneration Committee has also recommended the reappointment of Helene Potier for a second term of five years. Accordingly, post-fiscal 2026, the board approved her reappointment as an Independent Director from May 26, 2026 to May 25, 2031. Both the appointment of Diane Jurgens as an Independent Director and reappointment of Helene Potier as an Independent Director for the second term have been approved by the shareholders via the recently concluded postal ballot. On the business front, the industry is going through a major technology transition, and whenever there is such a transition, questions are asked about our relevance, leadership, or ability to maintain growth and margins. Given that AI is a much larger and disruptive technology transition than ever before, the questions are louder, and the doubts are more insistent. Moreover, the existential question that is being asked of us is: If coding becomes automated, then why are we needed at all? Now, more than three years after GenAI's launch, Infosys is more relevant than ever before and well-positioned for the decade ahead. While we embrace the best coding tools and improve our productivity, there's much more to do in the software development life cycle. Enterprise context is paramount. Solutions must complement existing investments. They demand rigorous testing, resilient architecture, and foundational cybersecurity. Data governance must reflect an organization's own obligations, not the convenience of any external platform or provider. The AI deployment gap in large enterprise clients is real, and closing that gap is where the work is. AI will not replace companies like ours. It will amplify those who move with purpose and adapt with speed. The AI revolution has made legacy modernization urgent in a way nothing else has, and clients are moving to retire the technical debt accumulated over decades. The preference will be to build versus buy for software. All this creates even larger opportunities for us. The defining opportunity lies in integrating intelligent AI systems with mission-critical enterprise platforms. The greatest value will come from combining the world of models and agents with traditional transaction systems that continue to underpin enterprise operations. That convergence is where the next wave of opportunities will emerge. Our clients trust Infosys to bring hard-earned learning to help them navigate the complexities of enterprise AI. Infosys is fully prepared to deliver on that trust and help our clients navigate the next. We are already collaborating with 90% of our top 200 clients on their AI journeys. Increasingly, they see Infosys as a trusted partner to unlock AI-led value across growth, efficiency, and innovation. The strategic investments we have made and continue to make in Infosys Topaz position us well to guide our clients as they navigate this structural shift in technology. Combined with the cloud strengths of Infosys Cobalt, we are enabling clients to scale AI with speed, confidence, and enterprise relevance. We recently unveiled our AI-first value framework to help global enterprises unlock AI value at scale. This positions Infosys to tap into an AI-first services opportunity of $300 billion-$400 billion by 2030. Continuous learning and talent transformation have been core to Infosys for many decades. The AI era requires fresh learning and new mental models. We are systematically preparing our talent for this new era while redeploying those released through productivity gains towards new areas of growth. We recruited over 20,000 college graduates this fiscal year and ended with a workforce of over 325,000 employees. During the year, Infosys was recognized as a global top employer in 20 countries for best-in-class HR practices. We were also named one of India's best employers among Nation Builders 2025 by Great Place To Work. We have built a strong AI partnership ecosystem spanning compute and cloud platforms, model developers, data and analytics providers, applications, and security technologies. This enables best-in-class AI solutions with the flexibility and resilience required for AI-native, agent-driven enterprises. During fiscal 2026, we completed two acquisitions: MRE Consulting Ltd, a leading energy and business consulting firm based in the United States, and The Missing Link Group, a cybersecurity service provider based in Australia. During the year, the company also entered into definitive agreements on three strategic fronts. Infosys will form a joint venture with Telstra, acquiring a 75% stake in the Versent Group, Australia's leading digital transformation solutions provider and a wholly owned subsidiary of Telstra Group Limited, delivering cloud and digital transformation services. We also agreed to acquire Statius Global LLC, a leading insurance consulting and technology services company focused on Guidewire services and headquartered in the United States Optimum Achieve Holdings, Inc., together with subsidiaries including Optimum Healthcare IT, LLC, a leading healthcare digital transformation and consulting company headquartered in the United States. Both these acquisitions are now complete. Long-term success must be responsible, inclusive, and sustainable. Our ESG vision for 2030 reflects that conviction through positive climate action, inclusive and equitable practices, and earning stakeholder trust through ethical governance. We have achieved carbon neutrality for the seventh consecutive year across our global operations through reduced consumption, renewable sourcing, and high-quality carbon offsets. Renewables now account for 81.8% of our India operations, and our campuses recycle 100% of wastewater through large-scale rainwater harvesting and demand-side efficiency measures. 11 campuses have achieved true zero waste certification, reflecting the scale and consistency of our circular economy approach across geographies. At Infosys, our purpose is to amplify human potential and create the next opportunity for people, businesses, and communities. We continue to expand our social impact program through Infosys Foundation, Infosys Science Foundation, Infosys Prize, and Infosys Foundation USA, addressing education, skilling and livelihood training, healthcare, women empowerment, science and research, and environmental sustainability. During this year, in India alone, Infosys Foundation undertook 200 projects impacting seven million lives. We have reached 15 million people through digital skilling initiatives anchored by Infosys Springboard, our flagship digital learning platform. We have also been recognized as the world's most ethical company for the sixth consecutive year by Ethisphere, a reflection of our continued commitment to responsible growth. We have been ranked as the fastest-growing IT services brand over the past six years by Brand Finance. Infosys is a natural choice as an AI transformation partner. It is said that to anticipate the future, we should skate to where the puck is going. In this case, the puck is coming to where we have already positioned ourselves. On behalf of the board, I want to thank our employees, clients, co-founders, and governments of the countries and states where we operate for their trust in us and generous support. To all our shareholders, it is your encouragement that drives us to deliver our best every day. Our heartfelt thanks to you all. I now request Salil Parekh, CEO and Managing Director, to address the shareholders. Unmute, please. Unmute, Salil. Thank you, Nandan. Welcome to the annual general meeting. Over the next few minutes, I will share with you some of the highlights of the financial year and what we are looking at as we go ahead. As we look at the next slide, the safe harbor provision. The next slide. Financial year 2026 was a strong year for us. First, we had a revenue of over $20 billion. Constant currency growth was 3.1%, adjusted margin, operating margin of 21%. Very strong free cash flow. Employees now at over 325,000 across the world. One of the key elements there was that we recruited 20,000 college graduates across India and in some other parts of the world as well, as we continue to scale in this new environment, as we do more and more work within AI. Our clients with revenues of over $ 100 million were at 41 as we closed the year. As we look at the next slide, if you look at the financial performance, we have shared this in this slide in rupees. In many of the areas, we had a nice positive movement from the last year. In terms of cash flow, we had a positive movement, which was reflected after you adjust for some of the tax refunds that we got in the previous financial year. As we look at the next slide, we have now returned over INR 55,000 crore over the past two years through the capital return policy, both in the manner of dividends and also with the buyback that we completed. This continues with the approach we have for our capital return policy, which will be across a block of five-year period where we return 85% of our free cash flow. Our balance sheet remains extremely strong. It's debt-free. There's no debt. In fact, it's very liquid, with a strong balance of cash and cash investments, which we continue to maintain even as we provide the capital return to shareholders, and we continue with some acquisitions. As we look at the next slide, one of the most critical areas we have focused on in this past year has been to launch our AI approach within the market. Internally, we've been working on this for a number of years. We have built internally something which we refer to as Topaz and Fabric, which allows us to make very strong AI capabilities available to our clients in partnership with AI companies. As you look at the next slide, this is the approach that talks about how we go to market with all of that AI capability. We have seen today there are six broad areas in which clients are looking to use AI to improve their business for growth or improve their business in terms of the quality service levels, or improve their business in terms of efficiency and cost. The first area refers to really AI engineering and strategy, where we build agents across different platforms and tools. The second to data, which is the critical element of putting AI together. The third is process, where a lot of new work is being done to first make the process more efficient and then use agents to make that process work better. The fourth is really modernization of technology using agents. This we see as one of the largest areas today that our clients are looking to Infosys to help them with. The fifth is the physical AI, which is you look at a real AI in manufacturing and put the software into those manufacturing elements where the products are there, whether it could be in medical, whether it could be in automotive or any of the other areas. The sixth is the AI trust, where we look at how do you make sure that it is secure and is also responsible AI. When we look at this as a collective group, we see that this is approximately $300 billion of addressable market overall in those six areas, which is from today onto 2030, so over the next five years. That's what gives us a real focus on how we drive the growth there. In this slide, we show what are the different clients that we are working with in each of those six buckets today. These are actual projects. These are not the proof of the concept. They are large-scale programs, which our clients are trusting Infosys with to make sure that we deliver this sort of work for them today. On the next slide, we talk about as an overall journey, how are we helping our clients to move from where they are today to the future, which is really very much AI-driven. We have this really deep understanding of their environment, what is in a client environment, what is in a large enterprise environment, how is the technology set up, how does it interact with the business, what is the architecture landscape, what is the data landscape? That domain knowledge is really the value that we are bringing, and which is why we are seeing a strong connect that our clients are having with us to make the AI successful. We also have extremely good engineering talent. We have shifted a lot of our training onto the AI training, and we have more and more of our employees ready and certified on the different foundation models, coding tools, compute platforms that are available for the AI. We have built our own platform and IP, which is the Topaz Fabric, which allows us to work with any AI foundation model for the benefit of the client. In doing that, we have built a very strong partner ecosystem. All of the big AI foundation model companies, the compute companies, are working with Infosys very closely to make it available for the clients based on what the situation is, which industry, what type of work, different foundation models become relevant for that. We have a very strong partnership approach to driving that. As we look in the next slide, here in Q3 of last year, we had shared this data, that 5.5% of our revenue was in AI services, which is approximately $1 billion annualized. This is growing at a quite fast pace we had given that when we shared it in Q3. We reconfirm that is how we are driving this, and we continue to see good growth in this AI services revenue. On the next slide, we show that also on the thought leadership, meaning how is the analyst community looking at Infosys? In any of the groupings, there are 16 areas across these six buckets where we have the leadership rating for AI, which Infosys is being recognized for. Move on the next, there are two big foundational elements of AI. The first is the cloud, and here we have built Cobalt over many years, and we have a very good first capability, then partnership, and then the ability to use the cloud compute platform to make sure that the AI is working well and make sure that the migration is working well. A lot of the different foundation models are working on multiple cloud platforms, and that's where the strength comes of Infosys having had that skill and capability from a long time. The second is the data, as you look at this slide. There is data within the enterprise which is structured, which is unstructured. How can we make all of that become available for the AI model? Because the value for a large enterprise is to take its own data and make it populated in the model so that it becomes more intelligence for the company to benefit, for the enterprise to benefit. We then ensure that the data is also secure and trusted, so that it's not something which that the enterprise may feel not dependent upon. They can continue with the differentiation, which is coming from their own knowledge, their internal data and knowledge that comes together. We are now bringing enterprise of bringing customer and supplier data also in addition to their own, which is enhancing how the models are working within large enterprises. As we look inside the company a little bit, we have been focused very much over the last several years on our own efficiency because we want to maintain, and as you saw in the previous financial year, we increased our operating margin. We want to make sure, despite the environment outside, we want to have a very strong operating approach. There we have driven a lot of the cost efficiency with the automation, with the pyramid, with the productivity, where we ourselves are using the AI in many places, for example, in finance, in marketing, all of our internal functions. Of course, in coding as well, which is giving us productivity benefits. Improving some certain portfolio elements and reducing our indirect costs to make sure that we have the foundation for a good profitability. The strength of Infosys really comes, which I've always felt from a very much leading delivery organization, where we have excellent training and very well driven teams that make sure that what we are committing to our clients, we are able to deliver. Now more and more, in multi-service offerings, in complex programs, where there's a lot of trust from our clients, and now in these six new areas of the AI, where we put even more attention and focus. On the brand, we have done, I think, quite well. Where our brand is recognized, more associated on AI, top three most valuable brand globally, one of the fastest growing IT services brands, top 100 of any brands in the world in the last financial year, and good perception with AI for Topaz and for cloud with Cobalt. We also took some time at the acquisitions. We had finished a few in the financial year. A couple of them got done just after the financial year, but before today. One was on healthcare side, one was on the insurance side. We want to make sure in the areas where we see a good opportunity and where we can scale up, we are doing more and more of those type of acquisitions, which we are then able to integrate into our business quite well. We wanted to share a little bit with how we are working across all the communities we are in the part of. We have created a lot of impact within India with the contributions the company's making. 200 projects, 7 million people. With Springboard, which is a training online capability which we provide for free, over 10 million people worldwide have benefited. One example where we have worked with making sure that the water capacity in lakes within different parts of India is enhanced by providing sustainable solutions. All of this comes within the area of supporting the communities in the CSR work we are doing. One of the biggest difference ways we are approaching the market is how we work internally as One Infosys, whether it's with the service lines, in the industries, in the geographies, making sure that the best capability of Infosys is available to every client and all of the teams inside are continuing to work well together. In conclusion, I would say it was a strong execution on the financial year. We have a good AI approach and strategy and already starting the execution. We already see approximately annualized $1 billion of AI services revenue that we shared in Q3, and growing at a very good pace. Very strong AI partnerships. The foundation model companies are also approaching us, and we are working strongly with them. A good, stable organization, the One Infosys, and a continued trust of our clients. With that, I will conclude. Thank you once again for all your faith and trust in us. We look forward to the coming year to be more and more AI-driven into the future. Thank you. Thank you, Salil. I now request Manikantha, Company Secretary, to provide a summary of the auditor's report. Thank you, Nandan. The statutory auditors, Deloitte Haskins & Sells LLP, and the secretarial auditor, Makarand M. Joshi & Company, have expressed unqualified opinion in their respective audit reports for the financial year 2025-2026. There were no qualifications, observations, or adverse comments on the financial statements on matters which have any material bearing on the functioning of the company. The statutory auditors' reports on the standalone and consolidated financial statements are available on page numbers 226 and 307 of the integrated annual report. The secretarial auditors report is enclosed as annexure five to the board's report on page number 91 of the integrated annual report. Thank you. Thank you, Mani. As the notice is already circulated to all the members, I take the notice convening the meeting as read. Before we proceed, I am pleased to bring to your notice that as required under the Companies Act, 2013, the company has provided you the facility to cast your vote electronically on all resolutions set forth in the notice. Members who have not cast their vote electronically but are participating in this meeting will have an opportunity to cast their votes through the e-voting system provided by NSDL. Members may please note that there will be no voting by show of hands. We now take up the resolutions as set forth in the notice. We will open the floor for any questions by members after all the resolutions are tabled. Accordingly, I will now only read out the resolutions. Item number one of the notice, adoption of the financial statements. The financial statements of the company, including the consolidated financial statements for the financial year ending March 31, 2026, including the reports for the board of directors and auditors, have already been provided to the members. Item number two of the notice, declaration of dividend. To declare a final dividend of INR 25 per share for the financial year ending March 31, 2026. You would recall that an interim dividend of INR 23 per equity share has already been paid for the financial year ending March 31, 2026. Item number three of the notice, appointment of Nandan M. Nilekani as a director, liable to retire by rotation. The text of the resolution is provided in the notice circulated to the members. Item number four of the notice, approval of the proposed amendment to the Infosys Expanded Stock Ownership Program 2019, amended 2019 Plan, and grant of stock incentives to the eligible employees of the company under the amended 2019 Plan. The text of the resolution is provided in the notice circulated to the members. Item number five of the notice, approval for proposed amendment of the Infosys Expanded Stock Ownership Program 2019, the amended 2019 Plan, and grant of stock incentives to the eligible employees of the company's subsidiaries under the amended 2019 Plan. The text of the resolution is provided in the notice circulated to the members. Item number six of the notice, approval of the request for reclassification of certain members of the promoter and promoter group of company to public category. The text of the resolution is provided in the notice circulated to the members. The members may note that in accordance with SEBI regulations, the applicants and the persons related to them shall not vote on this resolution. If any member desires to ask any question pertaining to any item on the notice, he/she may do so now. Members are requested to keep their questions brief and specific. To avoid repetition, answers to all the questions will be provided towards the end. Members may also note that the company reserves the right to limit the number of members asking questions depending on the availability of time. While members are queuing up to ask questions, may I request the team to play short videos of Infosys. [Presentation] Dear shareholders, thank you for joining our 45th AGM today and for taking time to participate in the proceedings. Before we go live with the Q&A, here are some points to note for your convenience. When your name is called and you are projected on the screen, please mention your name and location from where you are joining and proceed to ask your question. Each shareholder will have two minutes for the questions. To avoid repetition, the board will respond to all questions at the end. Once you have asked your question, you can switch to watch the proceedings. The board will be taking questions from shareholders in two or three sets, depending on the number of questions on video. With that, I will request the first shareholder, Mr. Dharav, to proceed with the question Mr. Dharav, kindly unmute yourself and ask. [Non-English content] and greetings of the day to respected chairman, board members, and all the stakeholders of my company. It is indeed a privilege to attend this meeting. My name is Dr. Dharav Vipul Jamadar from Surat, Gujarat, a proud shareholder of our company. Firstly, heartiest congratulations to all the stakeholders for such a robust performance consistently year-on-year. Respected sir, inevitably, these are some very challenging time, which not only our company, but the whole industry worldwide is going through. Axiomatically, there exist sophomania, which questions our very existence, but investors will have to have some patience as Rome wasn't built in a day. We, too, will create a competitive mode in the coming times like always we have done. I fully understand and support my company in this daring and adrift times. Certain questions which I would request our respected Chairman to address are, first, last year, despite many disruptions, we ended up FY with an all-round robust performance, but the industry as a whole is either growing negatively or in a lower single-digits range. Have we gone past those glory days when there was a double-digit growth rate? Are there any signs that the industry is out? Now in order to regain the past glory, we need something very path breaking. Even in terms of our margins and ROCE, the path looks a bit hazy. As even during such times when our currency has been persistently and significantly getting depreciated, we have not been able to convert those in margin expansion and increasing our ROCE. What are your views on these three aspects? Second, there have been disruptions of all kinds, from technology to geopolitics, from East to West side of the globe. Each sector is getting severely impacted. Turning to geographies and industries, which geography and industry we serve will be the most stable and grow at a robust pace, and which one will be facing the most disruptions in the coming times? Third, in regards to global and national level macros, which are turning dynamic and volatile. Some of them highlights out are El Niño happening this year, fear of economy entering into higher interest rate cycle, rising inflationary pressure, highly volatile energy prices, currency persistently and significantly getting depreciated, and much more. How do you see an uptick in public and private CapEx for IT services? Which counter of deal wins matrix will experience maximum growth and which one will see drag in this FY? Fourth, our free cash flows and ROCE have always been industry leading. Can you please elucidate on how are we planning to fund our next or exploring segments like AI data centers, quantum computing and much more, as it requires lots of capital and worldwide companies are raising lots of debt via leveraging debt. Will our growth or the future funding of the growth will be highly leveraged? How will our capital structure look like? What will its impact be on our dividend distribution policy and ROCE? Fifth, supposedly due to our large size, we are unable to transform or we take a bit more time and expand at a significant rate in AI. Will it be wise enough to somehow invest in global AI giants or even take M&A routes for some? Kindly share your views on the same. Lastly, our nation has lately secured many FTA packs with many developed nations worldwide. We already exist in many developing as well as developed nations globally. How do you believe a company like us will be taking its advantage? Furthermore, if you were to ask for some new relaxations or regulations for our industry from the government, what would they be? Thank you, sir, for providing this opportunity. It's an honor. Thank you, Dr. Dharav. We'll move to the next shareholder, Mr. Vipul Kumar Shah. Mr. Vipul, kindly go ahead and ask your question. Hi, am I audible? Yes, sir, we can hear you. Please go ahead. Good evening to Chairman, sir, Board of Directors and my fellow shareholders. My first question is regarding the extension of tenure of our CEO, Mr. Salil Parekh, who has done wonderful job since last so many years. If I'm not mistaken, his term is coming for renewal next year. Is Board seized of the matter? Is Board considering extension or Board is looking for any another candidate? This is an overhang on the companies which needs to be cleared as early as possible. I would request you to air your views. My second query is regarding we give guidance since decades. I am the shareholder since IPO. Of course, the intention is noble, but it has unintended consequences like too much volatility in the stock prices for minor bits or minor misses in particular quarter, where one contract revenue may slip into another contract. I would request the Board to seriously reconsider whether guidance is necessary. According to me, guidance should be scrapped because our larger peer is not giving any guidance and I find that volatility in their stocks after result is generally less. This is just my own view. I request Board to consider this matter as well. Second, what was our revenue contribution from AI-related offerings for last financial year? What type of growth we should expect from that offerings? What is the margin difference between AI-related services and normal services? That is my third query. Lastly, on Analyst Day our Chairman, Mr. Nandan Nilekani on his opening remarks had made one very interesting comment which I found very interesting that in AI world, opportunities are endless. Only risk is execution. I would request Sir to elaborate on his comments and how we are moving in that direction. Thank you and all the best, sir. Thank you, Mr. Vipul. I will request the next shareholder, Santosh Kumar Saraf. Sir, kindly go ahead and ask your question. Mr. Santosh. Hello. Good afternoon, Chairman and Board of Directors and also those who are attending. I am Santosh Kumar Saraf from Kolkata. [Non-English content]. Yes sir, we can hear you. Sir, I want to know, Infosys successfully crossed $20 million revenue milestone. What are the top three strategies priority that will help company reach to $30 billion revenue and while maintaining industry leading margin, creating superior shareholder return sir? That is my one question, sir. Nothing to ask and wish for financial 2027 to all our chairman, director and employee. Healthy, wealthy and good year sir. Sir, I also wish to our moderator for good service, sir. Thank you sir. [Non-English content] Thank you, Mr. Santosh. Now I will request the next shareholder, Bharat Shah. Sir, kindly unmute yourself and ask the question. Hello. Yes, madam. Chairman [Non-English content] Yes, madam, we can hear you. Is that Smita Shah? Yeah. Smita Shah and Bharat Shah, sir. Yes, madam. Please go ahead. Please go ahead and ask your question. Thank you so much, sir. Thank you so much. [Non-English content] [Non-English content] Thank you Smita Shah and Bharat Shah. I will request the next shareholder Om Prakash Kejriwal. Hello Sir, I am audible Sir? Yes Sir, we can hear you. Good evening [Non-English content] and good evening attending this AGM. Myself Om Prakash Kejriwal, equity shareholder from Kolkata Thank you [Non-English content] for providing me the platform to speak something for you. Thanks to our secretary department, especially Manikantha Sir for calling me and taking my know-how. [Non-English content] If possible please follow this virtual AGM in next year also so that more and more investors from different parts of the world could join our AGM and express their views and company could take benefit from their views. [Non-English content] many, many thanks to you people for increasing our dividend from INR 43- INR 48 on face value of INR 5. It is very good distribution Sir. [Non-English content] there is a saying, [Non-English content] our share price is falling every day. Today it is almost 1,030, 12 month low. [Non-English content] do you know why it is falling? Because we are not investing in futures, foreign investors are dumping our shares. Today market cap of Google is $4.5 trillion, more than our whole Indian capital market. [Non-English content] today investors are looking for growth and growth will come from your investment in future. You can see the growth of Taiwan and South Korea. These two small countries' capital market cap is more than our country's capital market cap. It is only due to investing in future. [Non-English content] it is a wake-up call not only for our company but also for Government of India. Government is investing huge money as well as man-hours in conducting Ishayas though it should invest in skill development. [Non-English content] today investors do not like buyback. You can see the position of our company shares and we improved shares after buyback. [Non-English content] you people have destroyed INR 1,800 crore on buyback. At the time of buyback I sent three mails for rectification in buyback. If you followed my suggestions our capital could be reduced up to 80%. You please go through my mails. From this buyback no long-term investors including promoters benefited. [Non-English content] I think I hold so many shares in our family members' accounts but I did not participate in this buyback because our balance sheet would destroy if we participate in this buyback. [Non-English content] I respect you very much. You gave Aadhaar to our country at the time of Congress which is today used widely in DBT schemes. Salil Sir, I respect you very much. You gave new software to our income tax department. [Non-English content] please invest in futures. Please invest in skill development. [Non-English content] Infosys is my company, I am always thinking for its betterment. At last [Non-English content] please maintain your smile and be cheerful. We are always with you as a long-term investor. Thank you [Non-English content] Thank you very much. Thank you, Mr. Om Prakash. Now I will request the next shareholder B Ram Kumar. Mr. Ram Kumar, kindly go ahead and ask your question. I will move to the next shareholder Dinesh G Bhatia. Mr. Bhatia, kindly go ahead and ask your question. I will request the next shareholder Krishan Lal Chadha. Mr. Krishan Lal, if you are on, kindly go ahead and ask your question. I will move to the next shareholder Mr. Reddepa Gundluru. Kindly go ahead and ask your question. Mr. Reddepa? Sir. Hi, Mr. Reddepa, we can hear you. Sir, am I visible and audible, Sir? Yes, we can see and hear you. Kindly go ahead with your question. Thank you. Respected chairman Mr. Nandan Nilekani, sir, honorable CEO and Mr. MD Salil Parekh, sir, and all other directors and my Company Secretary Mr. Manikantha [Non-English content] and my fellow shareholders, good afternoon to everyone. [Non-English content] Sir. Sir, myself Reddepa Gundluru, I am joining this AGM as a proud shareholder from Hyderabad. First of all, I would like to congratulate the chairman, sir, the board, management team and all the employees of Infosys for another year of the resilience performance, the immense global economic challenges, uncertainties. My company is doing very good. The annual report presentation very clearly reflects the company's commitment to the excellence, innovation, governance, the long-term value creation. Chairman, sir, Nandan, sir, Salil, sir, your speech is very wonderful, sir. Mr. Nandan Nilekani, sir, your visionary leadership continued to strengthen my company, Infosys. Our position is as one of India's most respectable global technology companies. Under your guidance, Infosys has been maintaining high standards of the corporate governance, transparency and shareholders engagement. Mr. Salil, sir, congratulations to you and your entire team for delivering the good, steady growth, strong client relationships and operational excellence. My company focus on AI, digital transformation, cloud services, and next generation technologies helping Infosys to remain a trusted partner to the global customers. Sir, I would like to appreciate the company for the consistent corporate transparency, world-class corporate governance and ethical business practices. Also CSR activities meaningful, the philanthropy activities benefiting the education. Sir, Nandan, sir, salute to sir. You have given the support to the IIT, sir. Healthcare, sustainability and community, the development. Sir, rewarding the shareholders through the healthy dividend, the long-term value creation, sir, your legacy. Arun, sir, your legacy you're continuing, sir. Sir, maintaining the strong balance sheet and the global reputation. Sir, a special thank and appreciation to Manikantha, sir, for the Company Secretary and entire secretary team to ensuring the smooth conduct AGM, meaningful through high standards of shareholder communication. I would like to also especially thank Mr. Akhilesh from the CS team, always reachable, excellent support. Sir, I have a few questions, sir. First question is, sir, what are the company key growth priorities for two to three years? I would like to know, especially in the areas of artificial intelligence and the generative AI. Second question, sir. How does Infosys plan to improve the revenue growth and deal conversion into the current global economic environment? Third question, sir. What opportunities does the management see from the increasing digital transformation spending by the global enterprises? Fourth one, sir. We have only five. Last couple, sir. Can the management share the outlook on the employee retention of the talent development, skill development, emerging technologies? Final question. Sir, is there any company considering a new strategic acquisition and strengthen its capabilities of an AI, cybersecurity and cloud services? Thank you, sir. Before I conclude, once again, congratulate the chairman, sir, board, management team, and all the employees of Infosys for the outstanding effort. I support the resolution placed before the meeting, Infosys Greater Success. I hear growth and continued leadership on the global technology industry. Sir, finally, we have faith on the Salil, sir, faith on the Nandan, sir, all the board of directors. I pray God to give them more wisdom, strength, power, peace. Entire board of directors and Company Secretary, thank you for giving the chance to me, Reddepa Gundluru, proud shareholder from Hyderabad. I have very good memorable photographs, Nandan, sir, smiling photos of Salil, sir. I respect you, sir. Proud of you, sir. God bless you, sir. Thank you, Mr. Reddapa. I'll request the next shareholder, Mr. Bharath Raj. Mr. Bharath Raj, please go ahead and ask your question. Greetings, Mr. Chairman, entire board of directors. I'm Bharath Raj talking from Hyderabad. Mr. Salil, I'm very happy putting into the journey in my company around 75 years. I hope you'll complete the 10 years also. Thanks for the dividend payout. Mr. Salil, my request, under your leadership we never received any bonus. Can we expect your bonus from your leadership, sir? Only bonus we got previous year, but I never received one bonus, so please consider one liberal bonus. Mr. Salil, what is your plans regarding the AI, sir? Because recently your price has been come down 10% regarding AI. How you face the challenge, sir? Sir, globally is totally changing now. AI, ChatGPT, a lot of issues are coming. How you sustain, sir, in coming market? That is my only request, sir. I thank Manikantha for in time he sent me the link. I request him to put me in front. I'm traveling here. I am present in airport. Thank you, Mr. Manikantha, giving this opportunity and sending me the in time link, sir. Once again, Mr. Nandan, one more request, sir. When I request you to visit Mysore, you have given sanction, sir. Now it is a fiscal AGM. No fiscal AGM, at least sanction Bangalore campus, sir. All speaker shareholders please arrange a Bangalore campus so that we can go and see, sir. That is the only request from my as a shareholder, sir. Thank you once again. Best wishes to you. Take care, sir. God bless you. I am Bharath Raj signing off from Hyderabad. Thank you, Mr. Bharath. Now I'll request the next shareholder, J. Abhishek. Mr. Abhishek, kindly go ahead and ask your question. The next shareholder, P. Shyam Sundari. Sorry. P. Shyam Sundari. Please kindly go ahead and ask your question. Hello? Yes, sir. We can hear. Good evening, sir. I'm audible? Yes, sir, we can hear you. Please go ahead. What about the videos, sir? Good evening, respected chairman, managing director, board of directors, secretary and his team, and my fellow shareholders. Sir, I am joint holder. My name is P. Jayan, along with my sister, P. Shyam Sundari, sir. Sir, can you hear me, sir? Am I audible? Yes, sir, we can hear you. Please continue. Yes, sir. First of all, I congratulate the management on the eve of this 45th AGM on its wonderful performance. I request the management to be cost effective by minimizing the expenditure. The corporate governance is good. The CSR activities are good. I request the management to consider the bonus issue, if not the rights issue. It's the right time to reward the shareholders, which is long pending due, sir. I hope the management will not let down the shareholders who have stood behind it thick and thin. The shareholders' blessing is also very important, sir. Please kindly consider. The share price slightly falling, sir. Down circuit. Please kindly look into the matter, sir. Sir, how are we going to withstand the tough competition in coming future? What are our future plans to enhance our business? I hope the management consider conducting the physical AGM in coming future. I thank the management for giving the opportunity, especially Mr. Manikantha, sir. Thank you very much, sir. Thank you, sir. I'll request the next shareholder, J. Abhishek. J. Abhishek, kindly go ahead and ask your question. Am I audible, sir? Yes, sir. We can hear you. Please go ahead. Yes, sir. Just a second. First of all, I congratulate the management on the eve of 45th annual general body meeting. Sir, trust all is well with you and your family in this challenging situation. Our company deserves much more respect than the current market cap after completing more than a decade of successful operations, profitability, and becoming one of the strongest brand in the respective segment. First of all, I would like to know what are the new plans and new innovations that our company is bringing, which are our new projects and which are the next states that we are being focusing on. Our company has built a very large extent of Infosys campus in Pocharam at Hyderabad. What is the present scenario, sir? Are we expanding that or it is being fully functioning or it is not yet started, sir? I have a property there, so I'm just interested in that particular business, whether the company has started and what is the upcoming phase that is being going on. As of now, how many employees have been employed over there? I would like to know from you, sir. Most our company secretary is always reachable, so I don't have any further questions. Kindly try to give a opportunity to the shareholders what the relatives who are really eligible for job opportunity in our company, sir. Nothing much to ask. I wish the company and the board of directors a great success and prosperity in the coming future. Thank you for giving this opportunity, sir. Hope to see you in the upcoming hybrid AGM next year. Thank you very much, sir. Thank you. Have a good day Mr. Jaideep, please go ahead. Please go ahead with your question. Yes, very good evening, Chairman, MD, and Board of Directors. Myself, Jaideep Bakshi, connecting from the city of Kolkata. First of all, I convey my thanks to our Company Secretary, Manikantha [Non-English content], for giving me opportunity to express my view and presenting a detailed and informative annual report, and to the entire secretary team for keeping in touch with us. Sir, the initial speeches, both the initial speeches was very much informative, shared about our company's affairs with facts and figures. Congrats once again goes to everybody involved for the good performance and the dividend you have passed on to us. Sir, we are the leaders in the AI consultancy and technology service to unlock the value. What are the thoughts for future use of this growth strategy? Share our vision for building a global organization in this competitive market, what is our revenue growth prospects in the coming years? Kindly share about the attrition rate and how are we nurturing the talent for our future success, what is our thought process for the cybersecurity? That's all from my side. I wish the company all the best. Once again, Congrats for the CSR activities which we have done. Thanks for the opportunity. Thank you, sir, and continue with the best in future so that we can get easily connected. Sir. Thank you, sir. Now I'll request the next shareholder, Atanu Saha. Mr. Atanu Saha, kindly go ahead and ask your question. Yes. [Non-English content]. [Non-English content]. I, Atanu Saha. Sir, please go ahead and ask your question. Good day, Infosys Limited. My respected Chairman, sir, and board of directors, and all our shareholders, our Company Secretary and our CFO and all our shareholder present in this around group. Sir, we are organizing its 45th annual general meeting, which is going on 23rd June 2026. It's great for me the chance to speak. My previous shareholder raised their queries and their records. Thank you very much to every our shareholders their beautiful queries, sir. Sir, introductory presentation is really very good and very interesting, sir. Sir, one thing, sir, what our future plan with artificial intelligence? Sir, about, sir, Infosys collaborating with 90% top 200 clients on our AI journey and more than 4,600 AI project under with, sir. Sir, as a shareholder of a AI world company How long we have to wait for to get a profit from such a huge operation cost extensive, sir. Sir, as far as I'm coming to our company, sir, it's sustainable, it's slowdown, really. Its revenue, its growth is declining anyhow. Sir, operating profits, it's before depreciation interest and tax, it's depreciating. Sir, one thing, sir, matter of the page number 52, whereas that AI, our employees is 84%. Employee satisfaction score, it is 79%, sir. My query is that why not it's more than 84%, sir. Sir, the book which is already unlock, another book which is in 2015, 2016, whereas it is published through our company, annual report. Why it is written Team Infosys and Team Mo. Sir, before Jack Ma's speech, today is bad, day after tomorrow, it's oath. Day after tomorrow, it's sunshine. I, Atanu Saha, wish a good year ahead, good result and good dividend and good health to everybody and those who are connecting with us. Thanks to our all MSME. Thank you very much. I, Atanu Saha, give me chance to speak and thanks to our moderator and also our company secretary. [Non-English content]. I'll request the next shareholder, Mr. Santosh Chopra. Mr. Santosh Chopra, kindly go ahead and ask your question. Hello. [Non-English content]. [Non-English content], sir. Thank you, sir. [Non-English content] Chairman sir, [Non-English content] Thank you, sir. I'll request next shareholder, Gautam Nandi. Gautam Nandi, kindly go ahead and ask your question. Mr. Gautam? I'll move to the next shareholder, Vasudha Dakwe. Madam, kindly go ahead and ask your question. Ms. Vasudha? Please unmute. Very good evening, respected Chairman, sir, board of directors, and my fellow shareholders. Myself, Vasudha from Thane. The opening speech given by the Chairperson is also very informative and excellent. I will also thankful to our Company Secretary and team for helping me a lot to join this platform very smoothly. Most of the question was asked by a previous shareholder. I will not repeat it again. Only one question I would like to ask, why our attrition rate is so high and what steps we are taking to maintain it? In spite of all our team performance, our employee rate is why it is not less than other company. Thanking you. Wish you all the company for next coming financial year. Thank you very much, sir. Thank you, madam. I'll request the next shareholder, Kaushik Sahukar. Good morning, sir. Yes, Mr. Kaushik. All well? Yes. Respected chairman, esteemed board members, and fellow shareholders, good afternoon to all. It gives me immense pleasure to interact with you once again this year. I am deeply grateful to our CS, Mr. Manikantha, for granting me this opportunity. I sincerely wish everyone good health and continued success. Coming to query, with rapid adoption of AI and generative AI across industries, what percentage of Infosys current revenue is linked to AI-enabled business service and solution? What is the management target contribution from AI related business over next three to five years? I hope I'm audible, sir. Yes, sir, we can hear. Please go ahead. Suggestion. As a small shareholder, I would like to provide a humble suggestion. Infosys may consider expanding its AI-led managed services and subscription-based digital platform for small and medium enterprises globally. This could create a recurring revenue stream, deepen client relationships, and reduce dependence on traditional project-based revenues. On a lighter note, Infosys has automated so many business processes globally. Perhaps the next innovation could be an AI-powered AGM assistant that tells shareholders exactly when their turn to speak is approaching. Before I conclude, [inaudible], sir, I have written to you on several occasions seeking your guidance and support. I would be grateful if my request could receive your consideration. If possible, kindly share the email ID of our GM, CFO, or concerned official, who may be able to evaluate my proposal or advise the concerned team to connect with me, as our company is one of India's most respected companies and is also known for its CSR activities. I remain hopeful that some guidance or support may be extended to help me continue my professional journey. Thank you for your patience and consideration. I wish the company, its leadership, employees, and all the stakeholders continued success, good health, and prosperity. Thank you very much. I look forward to meeting you next year again. Thank you, sir. Thank you. Thank you, Mr. Kaushik. Now I'll request the next shareholder, Satish Shah. Mr. Satish, kindly go ahead and ask your question. Mr. Satish Shah? I'll move to the next shareholder, Mr. Yusuf Yunus. Kindly go ahead and ask your question. Hello. Very good evening, sir. Good evening, sir. Good evening. Speaking from Mumbai. City of Mumbai, sir. [Non-English content] Yes, sir, we can hear you. Please go ahead with your question. Sir, [Non-English content]. Sir, Q&A, sir. Infosys is 45 years old, sir, and our dividend. You have given a INR 25 dividend. Very good. Very excellent on a face value of this INR 5. Sir, very good. Sir, why it is coming down, sir? What's the reason? I would like to know. Sir, annual copy, our company secretary print, very good. I am thankful to our company share department for calling us. Your number is coming. This now also your phone. This shows how our company is caring for the shareholders. Sir, they are a very small, very less company to shareholder important. Sir, I would like to have factory visit, sir. Can you arrange a factory visit, Bangalore, sir? Can you call me? Chairman, sir, I would like to meet you, sir. I am very proud of you, sir. You are one of the excellent Chairman, sir, your work is world-famous, sir. For example, all the foreign institutes, they are saying this share will go up. Today it is market trading down INR 30. Not to worry. Sir, INR 1,600 buyback, sir. Why it is so, sir? Nothing worry, sir. When you are on the board, not to worry, sir. The time will come. We will have a good flower in your hand, sir, and you will declare the next [inaudible]. Next five year, we will complete the 50 year. All we are celebrating, sir. Sir, can you next year, sir, can you start a one get-together? Sir, earlier you did get-together. Can you start for the get-together? That will be very good for us, sir. Sir, nothing more to add. I end my speech. Flower in your hand. Flower just like a signing. Flower signing. Flower sign, a smile will sit there. I am smiling, sir. Keep please smiling, sir. Not to worry. This is market up and down, sir. Nothing to worry. We are with you, sir. I will join with you, sir. My full family, Fatima Rangwala, Yunus Rangwala, Mohit Rangwala, and Maria Rangwala, all are shareholder. All people are given good wishes, sir, they pray for our company best wishes, sir. Thank you very much, sir. [Non-English content] Thank you, Mr. Yusuf. I'll request the next shareholder, Hariram Chaudhary. Mr. Hariram? I've unmuted. I'm opening my video also. Chairman, Sri Nandan Nilekani, my name is Hariram Chaudhary. I am speaking from Santacruz, Bombay. Listen, Nandan Nilekani, you are the father of Aadhaar card system. Reliance is calling in, not artificial intelligence, Reliance intelligence. Let our intelligence be called Infosys intelligence. You are the father of Aadhaar card, you can do that. Mr. Chairman, I give the compliment to Salil [Non-English content] for giving the very informative presentation and also the Company Secretary, Manikantha [Non-English content], for bringing out a voluminous report under the guidance of Chairman and Managing Director. Mr. Chairman, the secretary staff, including Vrushita, Puja, also need to be mentioned. Mr. Chairman, about this CSR, we are doing very good CSR activities and my compliments to them. Let us know who is the chairman of the CSR committee and who are the members of the CSR committee. Some very good suggestions are there. Next meeting maybe also online so that we from Bombay can attend it. Second suggestion is have a get together of speakers shareholder in Bombay. Many shareholders are from Bombay only. Please hold this get together in Bombay itself. Now dedicated mobile phone maybe in the secretary staff so that we can send festive greeting from the time to time throughout the year and we can maintain the personal relationship. Mr. Chairman, about water harvesting we are doing. What about solar energy? That also we should do that whether are we using this? And who is your nodal officer? Are we helping those who are going for shares and dividend have gone to IEPF? Who is the nodal officer? Kindly let us know that. With that, I thank Chairman Nandan Nilekani, Salil, Manikantha and our best employee and ethical company. Compliments to them. Thank you very much. My name is Hariram Chaudhary. Thank you, Mr. Hariram. Now I request the next shareholder, Mr. Dilip Jain. Mr. Dilip, kindly go ahead and ask your question. Mr. Dilip. Hello. Hello, I am audible? Yes, sir. Please go ahead with your question. [Non-English content] Thank you, Mr. Dilip. Now I will request Mr. Shrenik Mehta to kindly go ahead and ask your question. Hello. Yes sir, we can hear you. Please go ahead and ask your question. Mr. Company Chairman, Mr. Nandan Nilekani, Board of Directors, MD and CEO Salil Parekh sir, Company Secretary Manikantha and his team and your employee, my fellow brothers and sisters shareholders. First of all, as a shareholder, myself Shrenik Mehta from port city of Jamnagar, Gujarat. Age 73. Religion Jain. Jai Jinendra. [Non-English content] First of all, as a shareholder, I am quite happy with the performance of the company for the March ending 2026. No complaint as far as working is there, dividend policy is there, no problem. Sir, [Non-English content] [Non-English content] [Non-English content] [Non-English content] I could not sleep for two nights because I had sold 10% of Infosys. Again, I repurchased those shares. After that I am able to sleep. I love that much Infosys company. I convey my sincere thanks to all of you for giving me an opportunity to speak at the 45th AGM and wish you happy year ahead March 2027. Thank you, sir. Thank you. Thank you, Mr. Shrenik. I'll move to the next shareholder, Kamini Jain. Kamini Jain, kindly go ahead and ask your question. I'll move to the next shareholder, Hiranand Kotwani. Sir, if you are on, kindly go ahead and ask. [Non-English content]. Manikantha. Mr. Chairman, [Non-English content] to all those who are listening to me, though you may be any nationalist. It is a great pleasure to join you. It is a great company celebrating 45 years of journey. Sir today this market is not at a growth oriented or increasing. Some appreciation in the mind, Mr. Nandan. Please clarify because you are a visionary. You know how the future will be at a difficult environment, how the company will cope with, again, the new markets apart from the U.S.A. Is the company stepping rest of the world, particularly there's a trouble in Middle East. How do you tackle that? How the Europe and other market company are going to take to sustain the growth. How the prosperity will remain? It is a billion-dollar question, not a million-dollar. Please narrate. Thank you and best wishes from Hiranand Kotwani. Good luck ahead. Thank you, Mr. Hiranand. I'll request the next shareholder, Shweta Kamalia, to kindly go ahead and ask your question. Miss Shweta? I'll move to the next shareholder, Prakashini G. Shenoy. Kindly go ahead and ask your question, ma'am. I'll move to the next shareholder, Pankaj Manjani. Pankaj, if you are on, kindly go ahead and ask your question. Good evening, sir. Thank you so much for providing me an opportunity to speak at this AGM. I have only two small questions. First one is, sir, in light of workforce rationalization measures undertaken by several companies in the IT sector due to automation and AI adoption, has the company assessed the potential impact of AI on its employee base? Does management foresee any material workforce reduction in the near to medium term? The second question is, sir, given the rapid adoption of AI across the IT industry, what specific measures has the company taken to train and reskill its employees for AI-enabled roles? How does management plan to equip the workforce to adapt to technological changes while maintaining long-term employability? Thank you, sir. Thank you, Mr. Pankaj. Now I'll request the next shareholder, Mohammed Iqbal. Mr. Mohammed Iqbal, kindly go ahead and ask your question. I'll move to the next shareholder, Prateek Sharma. Mr. Prateek Sharma, kindly go ahead and ask your question. Mr. Prateek Sharma? Mr. Prateek Sharma, we can see you. Kindly unmute yourself and ask your question. We'll move to the next shareholder, Sachin Singhal. Mr. Sachin, kindly go ahead and ask your question. Mr. Sachin, kindly unmute yourself and ask your question. Mr. Sachin, kindly go ahead and ask your question. We can see you. Hello, audible sir? Yes. Hello. Yes, sir, we can hear you. [Non-English content] Yes, sir. Good evening, sir. All team, good evening. Hello, sir. [Non-English content] Yes, sir. We can hear you. Please go ahead. Hello. Good evening, sir. [Non-English content] [Non-English content] Thank you, Mr. Sachin. Now I will request the next shareholder Sujan Modak. Sujan Modak kindly go ahead and ask your question. Now I will request the next shareholder Utkshi Sam Patel. Madam, kindly go ahead and ask your question. Mrs. Patel, if you are on, kindly go ahead and ask your question. I will move to the next shareholder Manjeet Sandeep. Manjeet Sandeep kindly go ahead and ask your question. I will move to the next shareholder Palani Swami. Mr. Palani Swami, if you are on, kindly go ahead and ask your question. I will move to the next shareholder Ashish Bansal. Mr. Ashish Bansal, kindly go ahead and ask your question. I will move to the next shareholder Suneet Bhatt. Suneet Bhatt kindly go ahead and ask your question. Good evening, respected Chairman Mr. Nandan Nilekani sir, CEO and MD Mr. Salil Parekh sir, distinguished members of the board and fellow shareholders. Good evening to one and all. I am Suneet Bhatt speaking from Sirsi, Karnataka and I am joined to this meeting today as a proud retail shareholder of Infosys Limited. I want to thank Mr. [inaudible] sir for organizing this smooth, compliant and transparent virtual platform allowing us to participate seamlessly. Looking through the annual report for the financial year 2025/2026, I want to express my sincere happiness and satisfaction with the company's performance. Despite a challenging global macroeconomic environment, Infosys has demonstrated remarkable resilience. The consistent revenue growth, strong deal pipelines and deep integration of advanced AI and digital capabilities show that our company is not just navigating the future but leading it. As an investor, I am also deeply grateful to the board for maintaining a robust capital allocation policy and declaring the final dividend. It reflects your continuous commitment to rewarding the faith of retail shareholders. Furthermore, your unwavering focus on strong corporate governance and high ESG standards makes us incredibly proud to be associated with this enterprise. I would like to state my full support for all the resolutions listed in today's annual general meeting notice, including the adoption of the audited financial statements and reappointments on the board. I extend my heartiest congratulations to the entire leadership team and dedicated Infosys across the globe for an excellent year. You have my absolute confidence for the journey ahead. Thank you for giving me an opportunity to speak. [Non-English content]. Thank you, Mr. Suneet. I will request the next shareholder Mahesh Kumar Bubna to kindly go ahead and ask the question. Mr. Mahesh Kumar Bubna, if you are there, kindly go ahead and ask your question. I will move to the next shareholder Hrudaya Kumar Kode. Mr. Hrudaya Kumar Kode, kindly go ahead and ask your question. I'll move to the next shareholder, Priya Sahukar. Priya Sahukar, kindly go ahead and ask your question. I'll move to the next shareholder, Fatima Rangwala. Fatima Rangwala, kindly go ahead and ask your question. I'll move to the last speaker registered shareholder, Eunice Rangwala. Kindly go ahead and ask your question. Eunice Rangwala, if you are on, kindly go ahead and ask your question. Thank you all the speaker shareholders. With this, we conclude the question session from all the shareholders. I hand over back to the Chairman. Thank you for all the questions. While we provide the answers to the question shortly, I would request the team to display the questions received on the web chat and play videos which showcase the work done by Infosys during the last year. [Presentation]. We will now begin the answers to the questions. In this round, we are answering the questions that were raised in the web chat. After one round of web chat questions, we will then come back with a round of questions from the video and audio questions that were asked just now. I will start with my questions. I have a total of five questions. First one is from shareholder Valpadi Krishnadas Bhat Ramesh and others. Please let us know your plans for issuing bonus shares. Answer is, Infosys has a rich history of rewarding shareholders with bonus shares, issuing multiple bonuses since listing. The last bonus was given in 2019. We do not have any announcements in this regard as of now. Second question from Navneet Dandapani. What are the board's strategic priorities for driving the next phase of growth, and how are we differentiating ourselves to maintain a competitive edge in the market? This question was also asked by Mr. Sudhir Shah, Mr. Jayraj and Mr. Puneet Singhal. Our strategic priority remains to help our customers navigate the next and unlock their AI value. We believe we are well positioned to do that with our deep client relationships and our delivery capability. Our differentiators include the AI suite Topaz Fabric and our collaborations with AI disruptors to deliver both AI-first and AI-augmented services. Our platforms are designed to ensure that AI solutions are relevant and tightly linked to business outcomes. We are also expanding in sales and marketing in different geographies to expand our total addressable market. Where we find strategic fits, we are also doing mergers and acquisitions. Of course, we are doing a complete talent transformation to prepare our people for this new world of AI. Question number 3. What are the risks you foresee to the current expectations that integrators like Infosys are more relevant than before because enterprise AI implementation requires client-specific and a context specific execution which AI platforms cannot do without integrators like Infosys? That's a question from Srinivas Jayaraj. The AI deployment gap, as we said earlier, both Salil and I spoke about it, creates large opportunities for us. We see an addressable IT spend of close to $300 billion by 2030. In any enterprise implementation, the context is paramount. Tools are accelerators and are great to amplify our potential. Our biggest strength and opportunity lies in combining the new world of agentic software with the traditional transaction system that companies have and make it AI useful and relevant to the client's business. Question number four from Ramesh Gola. What is our roadmap on various items? Of course, the request to visit the campus. Answer. Many questions have already been answered in the ESG roadmap for the coming year. We'll continue to shape our ESG vision 2030. Our employee count today is 328,000 as of March-end, All these details are in our annual report. Our CSR efforts, including Tech for Good, job creation and other efforts, including employee volunteering, healthcare innovations, healthcare interventions, and women's empowerment. Question number five from Ramesh Gola. CSR activities done by the company. Once again, the annual report, the foundation report, and the interior annual report all have details about our CSR activities, which focus on digital skilling, healthcare, and environmental sustainability. We have many important programs like Infosys Springboard for digital learning, cornea care programs, as well as lake rejuvenation and agroforestry projects supporting water conservation and climate resilience. All the information is there in great detail in our annual report. With this, I now hand over to Salil to take his questions. Thanks, Nandan. There are a few questions I have from the web chat part. As Nandan mentioned, we'll come later to the video and audio part. First question is from Shamala Rao Pichuka: What are the future plans of Infosys? Is there any new projects for the upcoming year? Here, the big plans for us as we look ahead in the financial year 2027 and even beyond is in the AI services area. We continue to see outside of that competitive intensity and also the productivity impact on the revenues. With all that put together, we have given a guidance of 1.5%-3.5% growth for the full-year when we gave the guidance in the April results. For the long term, we are extremely enthusiastic about the AI services opportunities. What we shared earlier of the six big areas of AI services that we see, the building of the agents or the modernization or looking at data and others, that's an opportunity of around $300 billion of addressable spend going into the year 2030. Second question is from Navinta Krishna Danapati. Also Nitya Mehta. Similar question: Given the rapid evolution of AI, particularly agentic AI capabilities, could the board elaborate on the company's strategic roadmap for leveraging these technologies and how they expect to drive productivity, cost optimization, and long-term competitive advantage? Additionally, how is the board benchmarking our AI maturity and adoption against industry peers, and what metrics are being used? What we had shared in Q3 around the time just after Q3, the data for Q3 was AI services is coming up with 5.5% of our revenue at that stage. We look at some other metrics. 90% of our employees are AI aware. We also mentioned that of the 200 largest clients, again, 90% are where we do work which is related to AI using Topaz, using Fabric. We're currently working on over 4,800 AI projects. We build over 600 agents. We are also scaling up a team which is of forward deployed engineers, which team then works very closely with clients on making sure that AI is deployed into those client activities. We also have very good partnerships with foundation model companies, with tool companies, and with compute companies across the entire AI ecosystem. All of this then gets reflected in about 16 leadership rankings that we have within the AI ranking approach of all the analysts. Next question is from Srinivasa Rao Kilaru: Dear sir, many analysts say that Indian IT companies are just service companies that do not cater for R&D. Indian IT companies just distribute cash and dividend through buyback. Indian IT companies are not investing in meaningful research. What do you say about Infosys in this regard? What is the future vision of the Infosys management, where Infosys may lead in the next five or 10 years? Here we have a very structured approach in terms of innovation, where we have a center for emerging technology and solutions. A lot of the new technologies of AI, in fact, previously machine learning, digital cloud, and today also new technologies of quantum are being incubated in this group, that's where we see the earliest use. As a company, what we do is we take the new technology that are coming, and we build the capabilities in skilling our people and then deploy them onto large clients, so deployment becomes easier for our clients to use. We have also created something called the Infosys Living Labs, which is global innovation hubs with clients and partners, and sometimes even startups and academic institutions where we can jointly develop some of the technologies. For example, on AI, we have a joint work with a leading university in the U.K., a leading university in the U.S., where we are doing big work on AI innovation. We are doing work which is ensuring that what we distribute through our dividend or buyback is based on the capital return or capital allocation policy of the company that has been described. Next question is from Sudhir Dulirad Shah: What is the strategy of the company for the development in Gujarat? What we have done across India is we've had many innovation hubs, nearshore centers, digital design studios and partnerships also with AI GCCs in different cities in which we are operating and our clients are operating. We've also built a hybrid model where people can work flexibly, from different locations, even today, where they come in for some of the days and are working flexibly from their home locations for the rest of the time. With this strategy, we've set up location centers in cities like Ahmedabad, and making sure that that gives a big support within Gujarat and also in many other places, for example, in Hubli, for example, in Visakhapatnam, for example, in Noida. All of those areas are being developed across the company. Next question is from Soham Ketan Karandikar. Over the next three to five years as GenAI-driven productivity improves software development efficiency, how does management expect economic value created by these productivity gains to be distributed among Infosys, its employees, and its clients? Specifically, do you expect AI to be margin accretive, margin neutral, or margin dilutive? Here what we are seeing is there'll be lot of productivity improvements that are realized through AI, which will enable our clients to get some savings, which they are typically investing in additional or new IT spends in different ways, which is expanding the addressable market that we see. We've also had our own internal project for margin attention and expansion, where we've seen the revenue per employee is increasing over the last few years. Our revenues, therefore, have grown at a faster pace than our headcount. This helped us to improve our margin, if you look at the previous financial year 2025, by 50 basis points. In the financial year 2026, even with all the different macro negative environments, we were seeing that we were able to maintain our margin even as we put some more investments into sales and marketing. Our guidance for this coming year, financial year 2027, for margin is 20%-22%. In our medium term, with all of this activity and what we see in productivity benefits, our endeavor is to improve margins from the current levels as we go ahead. Those were the questions that I had. I will now request Jayesh to take his questions. Thank you, Salil. The first question is from Mr. Murugesan. When can we expect Infosys to grow double-digit growth? Can we expect to double the shareholder value by 50th AGM? As you know, we delivered a strong performance in financial year 2026, despite a challenging environment. We had a growth of 3.1% for the year in constant currency terms, despite lower third-party revenues and higher offshoring, which are headwinds to our revenue. On an organic basis, we have grown faster than our peers for over seven years now. On other parameters, we had very strong large deal wins at $15 billion with 55% net new. We generated $3.7 billion of free cash flows and all of that with a stable operating margin despite investing in S&M and AI and talent related investments. The overall demand environment continues to be soft, we see cautious behavior by clients due to macro concerns, with growth also impacted due to AI inflation. As the clients shift from siloed AI adoption to enterprise-wide AI adoption in the medium to long term, we expect them to increase the spend across six new AI value pools, which should lead to expansion in addressable markets by $ 300 billion-$400 billion. Our guidance for the current year remains at a revenue guidance of 1.5%-3.5%, excluding the Optimum acquisition that we completed during this quarter, and at an operating margin of 20%-22%. We do not give guidance for the future years. The next question is from Akash Sukeja. There are multiple questions. How are we going to utilize our excess cash on our balance sheet for future growth? Can we expect acquisition of major AI companies like of which we saw at HCL Technologies investing in Sarvam AI? Second question is, can we please start reporting AI revenue separately? This will help investors in this fearful market where every news flow causes panic. The third question is, how would you reassure small shareholders who are scared now looking at the market performance? Utilization of excess cash. We have a very structured capital allocation policy as per which effective financial year 2025, the company expects to continue its policy of returning approximately 85% of free cash flow cumulatively over a five-year period through a combination of semi-annual dividends and/or share buybacks or special dividends, subject to applicable laws and requisite approvals, if any. Under this policy, the company expects to progressively increase dividend per share. We have very disciplined approach to our M&A and focus on tuck-in acquisitions, which will help us bridge wide spaces in terms of capabilities or segments in which we operate, as well as accelerate growth through synergies. This systematic approach in M&A has worked well for us over the years. We have a strong balance sheet and a clear cash allocation towards M&A, which puts us in a very advantageous position when it comes to making quick decisions on the acquisitions. On reporting on AI revenue separately, we disclose the AI revenue in Q3 at 5.5% of our revenues, approximately $1 billion annualized and growing faster than our company average. On how would you reassure shareholders, we will not be able to comment on share price at this point in time. Our aim is to focus on our business and create value for our clients, therefore our shareholders. We have right ingredients and reflect strong delivery capabilities, deep client capabilities, multiple AI recognitions and trained employee base to deliver on the same. The next question is from Cheradip Acharya. "Overall stock returns have been very poor for shareholders over the last five years, despite good dividend. There also has been no bonus issue in the last eight years. Further, last buyback was at a time when individual tax returns on buyback were very unfavorable. How does Infosys propose to enhance shareholders value in the next five years, especially in an environment where IT services are being written off due to AI?" As I mentioned earlier, we have a well-defined capital allocation policy, which gives predictable returns to shareholders. For the current block of five years, from FY 2025 to FY 2029, the policy is to return 85% of free cash flows through a combination of semiannual dividend or share buyback or special dividends. The company also expects to progressively increase annual dividend per share. The company's also announced multiple bonus issues. There is no announcement in this regard at this point in time. The currently concluded share buyback of INR 18,000 crore resulted in EPS accretion to the shareholders. On the second part of the question, we believe that there are new six areas of the AI-first services opportunity that will be around $ 300 billion-$ 400 billion of opportunities by 2030. We are investing in various areas including sales and marketing, deepening our AI capabilities, growing our partnership ecosystem, et cetera, with aim to grow ahead of the market in the long term and execute on our strategy. The last question is from Ms. Mamta Rajesh Shah. "Why cash flow, both operating and free, have gone down as compared to the last year?" Our operating and free cash flows are lower by approximately INR 1,400 crore in FY 2026, primarily due to the higher income tax refunds in FY 2025. These refunds are on account of orders received under Sections 250 and 254 Income Tax Act for certain assessment years relating to years prior to 2025. With that, I will pass it on to Manikanta. Thank you. Thank you, Jayesh. The first question by Valpadi Krishnadas Bhat Ramesh, "When are we starting physical AGM?" The response, Ministry of Corporate Affairs and SEBI have allowed the companies to hold the AGM through video conference without the physical presence of members at a common venue. We will evaluate and keep the shareholders informed on the physical AGM, if any, in the future. The next question by shareholder S. Mangarakarshi. The question is, "How to buy Infosys shares in the USA market?" The response, Infosys ADRs are listed in NYSE. Members who intend to purchase these ADRs can contact the authorized bankers and brokers or the depositories following the due process for foreign investments. With that, I hand it back to the chairman. Thank you, Mani. Now we will come to the second round of questions. These are questions that were asked in the video conference, and we'll do it in the same order. I'll start with my questions. I have three questions. First question, Mr. Vipul. "Sir, can you elaborate on the statement that there are no gaps in the opportunities available, the only limitation execution risk?" Yes. What I said was that the opportunities are very large because of the many new things that are possible with AI. We do see a lot of work coming down in the coming years. Execution risk is our ability to reorient our service offerings to offer AI-first services and AI-augmented services, to get our sales team and delivery team to be aligned with that, to do the talent transformation, to look at new models of pricing, including outcome-based pricing and many other things that we have to do, which are required to achieve the goal of getting the best possible business from the new AI work. That's what we meant by execution risk. Second question is, "How can CSR proposals and suggestions be sent to the company?" This is from Dilip. CSR proposals can be sent at foundation@infosys.com or submitted through the CSR grant application available on the Infosys Foundation portal. All proposals are evaluated by the foundation based on alignment with focus areas and impact potential. The last question is, "Can the company consider increasing the work it is doing to address the water issues, including in Jamnagar?" This is from Mr. Shrenik Mehta. As a responsible corporate citizen, our water stewardship program extends beyond our operational efficiency to create a positive impact in the communities where we operate. We have taken up 11 large lake rejuvenation projects, creating additional capacity of 4.2 billion liters, making the total capacity of 10+ billion liters for these lakes. These lake rejuvenation projects enhances water table, improving water access to communities. We'll continue to do this, but this would happen in areas where we have operations. I want to keep that in mind. With that, I hand over to Salil for his questions. Thanks, Nandan. I have a few questions. I will read them. The first from Mr. Gaurav Vibhu. Last year, there was robust performance, but the industry going through issues. We are now facing the low growth. When will we go back to high growth? Despite forex depreciating, we do not see the increase in margin. Disruptions in geopolitical issues, which industry and geography will grow and which industry will be a laggard? Do you see CapEx and OpEx spending change in public? New growth areas like AI, quantum computing, is CapEx planned for these areas? Will we have new dividend policy because of this? The last few years, we have seen that a lot of the changes may have come with the changes in the macro environment and the interest rates, which have also led to some of the changes in where the discretionary spending was affected with our clients. We had a strong performance in the financial year 2026, where we crossed $ 20 billion in revenue overall and grew at 3.1% on a constant currency basis. One of the things we also mentioned in one of the answers, which was given by Jayesh, that over the last seven years, we are, on an organic basis, the fastest growing amongst our peers. On FY 2026, the communications manufacturing verticals and the Europe geography grew more than the company average significantly. In FS, financial services, and the grouping that we have, which is services, utilities, energy, resources, we grew above the company average in constant currency terms. In terms of the outlook, we expect there will be an acceleration of growth in financial services, in energy, utility, and resources and services grouping. Those verticals will see that acceleration in the financial year 2027. Our margins, we have had them remain stable despite several changes in the past three years. There are some cross currency which becomes sometimes a negative. There was, of course, the situations where we've seen changes in the pyramid, and we've also had some acquisitions which overall reduce the weighted margin, which comes into effect as the overall operating margin of the company. In terms of our capital allocation policy, it's well defined, and we will keep that policy as it's been defined over the next five years. Three more years are remaining in that grouping. We have clearly 85%, which we return to shareholders in different forms, and the remaining 15% is available as we choose to do some strategic acquisitions to improve parts of our business. There is no change on that capital allocation policy. The next question is from Santosh Kumar. What is the company's three priorities to reach $ 30 billion on revenue? A similar question is also asked by Mr. Bharat and Mrs. Smita Shah, Mr. Vipul, and Mr. Bharath Raj. As AI adoption is growing, we will see that becoming more and more dominant into the revenue of our future. The current pace of change of that AI technology is also fast, and we look ahead, we see opportunities which are related to growth opportunities, related to productivity improvements. Our objective is to make sure we leverage those growth opportunities and grow at a good pace. We also have good AI partnerships and a strong employee reskilling, which helps us to become part of the AI journey of our clients. In terms of AI services, we have outlined six new areas, and those areas are where we see the most impact. One of the examples of that six is what we see, for example, in modernizing a lot of the technology estate of our clients. The next question is from Mr. Reddepa, and a similar question was from Mr. Jaideep Bakshi and Mrs. Vasudha. Can management elaborate on the steps taken regarding talent retention? First on attrition, last year, we were at 12.6%, which was, in terms of overall numbers, a very good outcome for the company. In the previous year, it was 14.1%, and the year before that it was again 12.6%. For us, nurturing the talent is a critical point for future and continued success. Our employee value proposition is focused on providing employees with career, with rewards, with recognition, learning and development, and wellness. Our total reward approach is benchmarked into the competitive industry, and we have long established paths for employees for the upskilling, for the reskilling, and for the career growth. We believe with all these measures and also the way we are ensuring that there's a flexible work environment for our employees, that helps us to make sure that our attrition numbers are low as we had in the previous year, and we plan to have those sort of measures on the future. Next question is from Reddepa. "What is the company doing to increase its deal conversion?" In the deal conversion last year, we had approximately $15 billion of large deals, of which 55% were net new, and that was up by 24% from the previous year. In addition to large deals, we have a portfolio of clients where many are medium and many are small deals as well. Even with all the changes in the macroeconomic headwinds, we see a distinct uptick in the IT spend, especially on AI services and on the modernization opportunities. Those are fairly large into our pipeline. There, many of our clients are moving well beyond AI sort of pilot or small projects to really whole enterprise-wide AI project deployment. What we see there is that people are deploying large projects, IT projects, but they're also very cost efficient and making sure they're deployed wisely. Here we also see a lot of change on the GCCs, where there's a lot of activity on AI-first GCCs, where we have a good impact with our clients. The next question on the potential from Mr. Pankaj Manjani, "Potential impact of AI on the workforce, and what are the measures for the reskilling the workforce and equip the workforce in the new environment?" Here, what we are seeing is that as we have more and more changes of AI coming in, we will also have agents that'll be working with what we do as humans. The overall work we expect will expand. What we did last year, for example, with recruiting 20,000 new college graduates, we have a similar plan for this financial year to increase the number of people that we will bring in. That's how we will focus on different types of work, using agents, but also using the humans. AI adoption is still in a very early stage in many of our clients and industries. We will see a lot of expertise being developed, both human and agent-based, which are related to a deep understanding of the domain. That's where we will see the benefit of the experience we have. One of the things we have done in terms of reskilling is making sure that we have employees who are AI aware, who are AI builders, and who are AI masters. We're collaborating with our partners who are foundation model companies and compute companies and tools companies to make sure that all of that latest learning is built into what our people know into the market. That's all the questions I had. Now I request Jayesh for his part. Thank you, Salil Parekh. I have three questions. Before I get to the questions, I would like to thank the shareholders for the deep appreciation on the quality of annual report, CSR activities, and the services provided by Manikantha and secretarial team. Coming to the questions. First question is from Mr. Vipul. "Whether the guidance is necessary according to giving guidance should it be scrapped?" A guidance reduces, in our mind, asymmetry of information between management and the stakeholders. It is a global best practice that the company has adopted for years for the benefit of shareholders to provide an anchor for the market expectation and to give a view to shareholders on current plans and likely performance. The second question is from Om Prakash Kejriwal. What is the plan to invest in our future and our skill development as our share price has gone down because we are not investing in future?" The company has taken multiple initiatives to stay ahead of competition with respect to the ability to leverage AI for better outcomes internally and for clients. We have invested in developing an industry-leading comprehensive solution, Infosys Topaz Fabric. We have invested in building one of the best and most comprehensive partnership across the AI ecosystem. We are making significant investments in continuous learning and skilling to enable our workforce to stay ahead of AI-led transformation. Overall, we are very comprehensive approach to gain market share in this AI opportunity. The third and the last question is, "Why is company share going down after buyback?" We will not be able to comment on the share price movement. However, the recently concluded tender offer buyback of INR 18,000 crore has resulted in EPS accretion for our shareholders and increasing return on equity while returning cash as per our capital allocation policy. With that, I'll turn it over to Manikantha. Thank you. Thank you, Jayesh. There was one question in this round. The question was from Hariram Chaudhary. The details of nodal officers for the purpose of IEPF was asked. Also what are the initiatives taken by the company with respect to IEPF. With respect to the nodal officer, the board has designated me as a nodal officer for the purpose of IEPF. Therefore, the shareholders who have any claims for claiming their shares which has gone to IEPF can write to us. There are detailed steps, which is mentioned in our website of how to claim the shares. Further, the shareholders can write to investors@infosys.com and we will help them out how to claim the shares. With respect to the initiatives taken by the company, the company sends out periodical intimations to the shareholders to encash their unclaimed dividend and update their bank account details, either with the RTA or with the depository participants. The company also publishes unclaimed dividend and corresponding shares information on the website of the company. Therefore, the shareholders can look at these details and get to know if their shares have gone to IEPF authority. If it is so, it can reach out to the company for helping to claim those shares. In addition, the company also has an initiative to receive the information from depository on updating bank details by a shareholder for processing the dividend directly without any specific request from the shareholder. These are some of the initiatives which is taken by the company. Those were the questions, and with that, I will hand it back to the chairman. Thank you, Mani. Members may note that e-voting on the NSDL platform will continue to be available for the next 30 minutes. Therefore, I request members who have not cast their votes yet to do so within the next 30 minutes. The board of directors has appointed B. Hemanth, practicing company secretary, as the scrutinizer to supervise the voting process. Further, I hereby authorize Manikantha, the company secretary, to declare the results of the voting and place the results on the website of the company at the earliest. The resolutions as set forth in the notice shall be deemed to be passed today, subject to the receipt of the requisite number of votes. We had 326 members participating in today's 45th annual general meeting. Thank you for attending the meeting. I hereby declare the proceedings of Infosys Limited's 45th annual general meeting closed. Thank you and see you next year.