The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Dipesh Kumar Mehta - Emkay Global Financial Services Ltd., Research Division - Analyst
: So just want to get a sense about the $300 million deal, which you suggested. If you can provide some more detail about the kind of work and
whether any new component into it because you indicated about consolidation deal.
A related question is if I look next 12 months order intake, it is showing relatively moderate growth despite $60 million ACV kind of addition. So if
you can provide some detail on that.
Second question is about the overall demand environment. compared to last quarter when we entered into Q1 and now compared with it when
we are entering into Q2. Any change in demand environment, either positive or negative or whichever, if you can provide some color?
And last question is about the vertical wise, if you can provide some strength about underlying demand momentum. I understand because of very
strong deal intake in BFS. Obviously, near-term growth may be strong, but if you can provide some sense about underlying demand drivers.
Question: Dipesh Kumar Mehta - Emkay Global Financial Services Ltd., Research Division - Analyst
: Sir, just one follow-up about the next 12-month order book, I was referring to more from a quarter-on-quarter perspective because $60 million yet
if added. So is it -- is there any material incremental component part of the ACV?
Question: Vibhor Singhal - Nuvama Wealth Management Limited, Research Division - Analyst
: And congrats on a very solid performance once again. So sir, my basic -- a couple of questions that I have. One is, of course, if you look at the
executive order book that we have, it is around $897 million at this point of time. I know you've mentioned it before that this is basically -- I mean
we have rarely seen any slippages in this. So given the kind of uncertainty that we are facing at a macro level at this point of time, could this very
well be assumed as the minimum amount of, let's say, the executable that we will have in the next coming 12 months. And there's a fair degree of
certainty about none of the deals in this part being put on hold or being pushed out in future.
Question: Vibhor Singhal - Nuvama Wealth Management Limited, Research Division - Analyst
: Got it. That's definitely a lot reassuring. My second question today was just on the banking segment. I know I think maybe we start before, I'm sorry,
I maybe I probably want to spend a little bit more on this. How do you -- I mean, for us, suppose, the banking continues to do well in this quarter
also and has been quite stable. Just wanted to check what is your outlook on the overall banking industry per se, not just specific to our clients.
Look, our clients are doing good for us. But overall, do you think there is still a lot of uncertainty or hesitancy and volatility in the baking segment,
which could impede the overall banking sector spend. Our (inaudible) clients might continue to do well for us, which is a great thing as we are
seeing that in the results as well. But for the overall industry, do you see that continuing? Or how have you seen that change over the past 3 months,
if I could maybe ask that.
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JULY 20, 2023 / 11:00AM, COFO.NS - Q1 2024 Coforge Ltd Earnings Call
Question: Vibhor Singhal - Nuvama Wealth Management Limited, Research Division - Analyst
: Got it. Just one last bit on that. I have already mentioned that outside of August, things are looking still maybe at least some bit of silver lining,
mortgage rates, I think last reported, [6.97]%, do you see more pain in the mortgage business for maybe some more time?
Question: Ravi Menon - Macquarie Research - Analyst
: Congratulations on good numbers in your top accounts. I wanted to check, what's giving you confidence on this guidance? Is it that there is less
of, I'd say, project-based application maintenance sort of deals that you have where there is a possibility of some of those being seen as discretionary
and the kind of work that you're doing, it's a lot more from some might say quick ROI. Is that what gives you confidence that clients will continue
with these programs.
Question: Ravi Menon - Macquarie Research - Analyst
: And one more if you have that good decision to giveaway (inaudible) now. And it looks like the quantum is also normal, right? I mean you've not
really cut back on this, saying that overall, the hiring environment is not great.
Question: Ravi Menon - Macquarie Research - Analyst
: It looks like the wage quantum, the wage hike seems to be a normal year wage hike (inaudible) looking at the demand in the hiring market and
kind of toning it down a little bit compared to normal years.
Question: Abhishek Shindadkar - Incred Research Services Private Limited - Analyst
: Congrats for a good quarter. I just have 1 question. The new client addition number has (inaudible).
I know we are signing large deals, but is this a function of more about the environment? Or is it a conscious effort to pursue smaller number of
clients, but the large deals within those.
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JULY 20, 2023 / 11:00AM, COFO.NS - Q1 2024 Coforge Ltd Earnings Call
Question: Abhishek Shindadkar - Incred Research Services Private Limited - Analyst
: That's helpful. So where I was coming (inaudible) that for the last 6, 7 years, so we've been almost (inaudible). Last year's Q1 number was roughly
12 accounts, new accounts I'm talking of. And this year, we are starting with 6. So it is what (inaudible) perspective, but really...
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