Infosys Limited American Depositary Shares

Good day and welcome to Infosys Limited Q3 FI26 earnings conference call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. And I'll hand the conference over to Mr. Sandeep Mahindra Thank you, and over to you, Mr. Mahindra.

Hello, everyone, and welcome to Infosys' earnings call for Q3 FY26. Let me start by wishing all of you a very happy new year. Joining us on this call is CEO and MD, Mr. Falil Parekh, CFO, Mr. Jayesh Sangrajka, along with other members of the leadership team. We'll start the call with some remarks on the performance of the company, subsequent to which the call will be opened up for questions. Please note that anything we say that refers to our future outlook is a forward-looking statement that must be read in conjunction with the risks that the company faces. A complete statement and explanation of these risks is available in our filings with the SEC, which can be found on www.sec.gov. I'd now like to pass on the call to Salil.

Thanks, Sandeep. Good evening and good morning to everyone on the call. Thank you for joining us. Warm wishes to you for the new year. We had a strong performance in Q3. Our revenues grew 0.6% sequentially and 1.7% year on year in constant currency terms. Our large deals were at $4.8 billion with 57% net new. This was across 26 deals. Our adjusted operating margin was 21.2%. We generated free cash flow of $915 million. One of the most significant large deals we won was with the National Health Service in the UK. This $1.6 billion deal expands our work in the healthcare sector. We will help NHS leverage AI to streamline operations and improve patient care for UK citizens. We've deepened our Topaz AI capability with an agent services suite called Topaz Fabric. This suite helps our clients manage and implement AI agents across the enterprise. We are expanding our strategic partnerships with AI companies. We recently announced a partnership with Cognition. Here we will combine Cognition's Devon software agent with Infosys' knowledge of the client landscape and industry expertise. We are already working with them across clients. Industry analysts recognize Infosys for its leadership in AI. In financial year 2026, we were recognized as a leader across 12 ratings. We had strong momentum in AI adoption across our client base. Today, we work with 90% of our 200 largest clients to unlock value with AI. We are currently working on 4,600 AI projects. Our teams have generated over 28 million lines of code using AI. We've built over 500 agents. We are scaling our forward deployed engineer team. Our clients are turning to us as trusted partners to drive value realization from AI investments. Some of the areas they focus on are fragmented data, legacy application landscape, and business workflows, that are not conducive for AI. We bring together a deep understanding of clients' technology landscape, strong data engineering, and process reimagination capabilities to help them capture value at scale from AI. We aspire to make AI work for clients delivering business outcomes for cost, revenue growth, and innovation. We are witnessing six AI-led value pools emerging that could unlock a large incremental opportunity for us. We also see productivity-led benefits that compress some legacy areas. The six value pools of opportunity in AI services we see are AI engineering services, data for AI, agents for operations, AI software development and legacy modernization, AI in physical devices, and AI services. We believe we are uniquely positioned to capture market share across these value pools and emerge as the leading AI value creator for global enterprises. We will share a comprehensive view on our approach at an investor day later this quarter. In financial services, we see good traction in large deals and discretionary projects. In financial services and in energy, utilities, resources, and services verticals, we expect acceleration in financial year 2027 over financial year 2026. This is based on good deal wins and AI partner status with 15 of our largest 25 clients in each of these verticals. With a strong performance in this quarter, we have revised our revenue guidance for the financial year. The new revenue growth guidance for this financial year is 3% to 3.5% growth in constant currency. Our operating margin guidance for the financial year remains the same at 20% to 22%. With that, let me hand it over to Jayesh for his updates.