Tech Mahindra Limited (TECHM.NS) Earnings Call Transcript & Summary

We are from Makers Lab Tech Mahindra Central Innovation Unit. Myself Srinivas, Head of Innovation Management, and I have with me Rahul, who heads the Design Studio for our Makers Lab. So at Design Studio, we use technologies like AR, VR and XR to solve complex business problems statements. Here, we have one of the use cases given to us by one of our customers. That is the Indian Defense Forces. And the use case that has been given to us is how do we train our cadets on arming and disarming of the mine, which is an important part of our warfare. So taking this problem statement, we did design thinking within Makers Lab and came up with the VR module that will help with the training of the cadets seamlessly. My colleague Rahul will demonstrate the module, and we'll see how it benefits the entire team working on it. So the VR modules that we have created has 2 sections. The first section is where the cadets practice on it, where they try to understand what are the key steps in arming and disarming of the mine, what is the chronology. And the second one is where we do the test, where there's a self-evaluation of whether they have understood the entire steps in the right way. So if you go to the practice, you'll see what are the steps that the cadets need to follow while arming a mine. So as you see, it starts with digging of the pit. And then we have 6 steps till the mine is completely armed. And the last step is where we actually remove the safety lock and arm the mine. So now from the practice mode when the cadet has actually learned it well, he opts for the test mode. In the test mode, the 7 options are there. and he or she has to actually give the chronology of sequence. And it indicates whether the sequence is correct or incorrect, giving a self-evaluation to the cadet of his learning of the entire thing. So this VR module has been successfully delivered at the College of Military Engineering, and we've trained multiple teams within the armed forces using our module. What we've also done is that taking this queue, we've also extended the services to different verticals and customers within Tech Mahindra and we've solved complex problems using our AR, VR, XR technologies. One of the use cases we have in the learning field is what Amruta will explain subsequently when you move to them. And there are other areas where we have worked using our design studio. So that's all from the design studio of Makers Lab. It's me and Rahul signing off. Thank you.

We are Technodune, a Pune-based tech startup, which has been formed and groomed out of Makers Lab here in Tech Mahindra. Now an AIC incubated startup, we deal in robotics, IoT and the drone space. This includes manufacturing and building robots in spaces such as health tech, agtech, lifestyle, energy and sustenance, animal. Some of our current products include robots manufactured for Makers Lab new cases such as personal wellness and defense tech. This includes the manufacturing, design and everything done in-house, which will be including mechanical design, construction, all the electronics and low-level driver programming. We are extremely inspired and delighted to be working with teams at Makers Lab and Tech Mahindra [Indiscernible] and grooming helps us in doing things much better than what we could have done alone. Thank you.

Hello, everyone. This is [ Satish Kelkar ]. There is a huge digital divide, not only in India, but across the globe. If you ask me why there is a huge digital divide. And one of the answers would be that people are speaking very different languages. There are 27 mother tongues and 1,645 dialects in India. Most of people do not speak English, even they do not understand English. Across the world, English is the third most spoken language, which covers only almost 5% of the world population. So we wanted to breach the digital divide by attacking the language barriers. And that's why we created a unique tool, BHAML. BHAML means Bharat MarkUp Language, which supports -- which allows users to write code in their native language. This tool supports 10 Indian languages right now and the languages are Hindi, Marathi, Odia, Gujarati, Bangla, Panjabi, Kannada, Telugu, Tamil, Malayalam, and Assame. I would like to give a quick demo of this tool. You just need to use BHAML.techMahindra.com URL, and you will get directed to this tool, click on the enter into the work space. If you click on the language option, there will be a drop down menu and 10 languages will be shown. I have selected Hindi here. You can see the tags are in Hindi. If I select a different language, for example, Gujarati, the tags will be shown in the respective language in Gujarati. Now I would like to write a code in Hindi. So I will select Hindi language. On the right-hand side, you can see -- Hello there, [Foreign Language]. I would like to bold the word Nikhil. So I'm writing a code in Hindi using a word bul and I will put the word Nikhil inside the code, And immediately, you can see the result on the right-hand side, the name -- the word Nikhil is bolded. So to propagating the tool, we started from the nearby schools. And later on, we put the vision countrywide. I used to be a Uber driver before joining Makers Lab Tech Mahindra, and driving is one of my passions. So I myself went on a mission, which called BHAML yatra. In this mission, I traveled more than 5,000 kilometers, visited more than 33 schools, 2,000-plus teachers attended the BHAML introductory station and 50,000-plus students used the BHAML tool. Some of the visited schools have added this BHAML in their curriculum. And in Panjab, Educate Punjab Project is the name of the institution and in Jalgaon, Maharastra, with the English medium school, these 2 institutions have added BHAML into their curriculum. Most of the industry leaders have appreciated this BHAML tool. And that's it. Thank you.

Hello, team. In extension to what we mentioned, here and we bring all together a new learning solution for all of you. My name is [ Amruta Suman ], and I would like to show you this innovative solution. So in last 1, 1.5 years, the world has changed 360 degrees for all of us. Everybody is working from home, but everybody is missing office also eventually. What if I tell you that you are at home, but you get to see the office, you get to feel the office, even sitting at home. That sounds amazing, right? So this is where we bring this learning solution for all of you. Okay. So recently, Tech Mahindra has launched this VR-based induction. So in order to make sure that all the new joinees get to know about Tech Mahindra's vertical, we have launched this VR-based learning. So me and my colleague, [ Ansel ] are going to show you like how exactly this particular solution can work. So we have 1 simple VR box and your mobile phone. These are the only 2 things that you need. Simply download this application, a simple application using a URL on your phone, insert your phone, put on our VR goggles and connected to a simple joystick. This is how you can get to see, experience and learn as well, right? So this solution gives you a complete learning experience. You can turn around, you can experience the office everywhere, okay? Mainly, this is going to be very, very useful for all of us to create that employee experience what Tech Mahindra and all of you look for. In future, we are planning to build much more bigger solutions using the same environment. All of you are the customers, customers' culture is equally important. So with such solutions, we are going to make sure that we make associates experience the culture of their customers and to help smoother business. Now along with that, we have some of the other future skilling solutions that we already have, as you can see on the screen. We have got something as a portal of learning Mela, which is lacking but a one-stop shop for all the learning offerings. We have this VR-based learning. And very importantly, we have something as a tie-up with HMM Spark. So right from 1 to 2 minutes of articles, videos, the learning has become very handy. You can access it anywhere on your phone, which is very, very simple. So thank you so much for your time.

The U.S. virtual health ecosystem is broken today. Physicians cannot talk to their patients. They do not know their patients. They're not able to provide personal care to the patients. Patients in turn, cannot reach out to their physicians. They do not have a point of connect for their physicians. We present to you HealthNxt. The Tech Mahindra's, Unicon Dream. HealthNxt is an integrated virtual health platform. It's a digital front door for all the needs which a patient has to connect with their care provider. It has integrated telehealth, it has integrated remote monitoring, AI-based symptom checker, appointment scheduling, anything which a patient needs to connect with their care provider. It also, in turn, transfers that data, that information, which is collected from the patient to the care provider in their core EHR ecosystem. Today, this is a $94 billion total addressable market. Currently being addressed in parts by simple and small point solutions. HealthNxt provides an integrated virtual health journey for a patient and provider interaction. That's the USP, which we build -- which we build on, to connect the physician-led expertise with the design thinking experience to create a human center design for HealthNxt. I'll transfer it over to Sharath to take you through the demo or HealthNxt platform.

Thank you, [ Nishant ]. So as you can see behind me, now we have the HealthNxt homepage, which the patient has access to. Here, I'm going to showcase to you a couple of different tiles that we are giving access to the patient. If the patient is an English or a Spanish-speaking patient, they can change the language at the top. And some of these styles talk about different features like daily health, urgent or emergency care, my vitals, and medication. A lot of this data is coming from multiple places. The value proposition of HealthNxt is to consolidate all this data and give it to the patient in one single screen. So I'm going to walk you through a patient journey of a 56-year-old patient who has severe chest pain. And we are going to walk you through how HealthNxt human center design is going to help the patient navigate to the right care provider. So we have a feature called symptom sector. So once the patient suffering with chest pain, clicks on symptom checker, they will be shown different conditions based on the severity. So in this particular case, the patient has severe chest pain. So we are going to click on the emergency and urgent care. So in this, I'm going to identify the symptom of the patient, here in this case, it is chest pain and submitted. Based on the patient location, the system has automatically identified that for a severe chest pain, the patient needs to visit the ER facility at the hospital. So it has identified the nearest ER facility, and it is about the next visit for the ER facility is about 35 minutes. So it is asking the patient to be added to the waitlist. I'm going to add the patient to the waitlist. So as you can see on the screen here, the nearest ER facility has a waitlist number of 4 for the patient, and there is a 25-minute wait. So the patient has directions to the hospital. So he can navigate to the nearest hospital and get care. So this is a human center design on which HealthNxt is built. So based on the patient's condition, we're out them to the nearest facility or we ask them to do a tele consult or any other condition -- based on their condition, we basically triage them to the right care setting. Thank you.

Hello, everyone. This is Nithin. And today, I'm going to introduce you one of the TechM IP product solutions called [ Sent ], which is a conversational AI platform. So we all agree that customer experience is one of the top most priorities for any organization. So today, we also know that conversations and customer experience go hand in hand. But that's very straightforward and very good in theory. But during our experience of talking to multiple stakeholders and game makers and industry leaders, we have understood the various challenges that each of these organizations have, right, and which can be broadly classified into customer experience, employee experience and also employee productivity, right? So some of the challenges that we see from a customer experience is that, organizations, a lot of times, they fail to try and identify the blind spots within customer interactions, right? This could be the intent behind our customers' conversation with the organization or it could be a pin point, which is being unidentified. And in the plethora of conversations that happen with multiple individuals, these tend to miss out, as well as trying to be able to move past the traditional experience, it could be research experience or it could be the navigation experience in a particular website or a mobile application is one of the key challenges that our companies are exploring. And along with that, trying to be able to gauge and monitor your employees' performance, especially if you're into contact center domain and you want to be able to monitor your agent's performance. It becomes very crucial since they are the front line, being able to evaluate them and make sure that they are in their top-notch form becomes a crucial requirement for the organizations. Should I go ahead? Becomes a crucial requirement for the organization and being able to provide all of these solutions in a very customized fashion is something that has been missing out throughout the industry. And the personal concierge services and customization is one of the key USPs that organizations are failing to achieve, right? Today, I'll be discussing about how [Indiscernible] solve some of these problems, leveraging some of the state-of-the-art AML technologies, NLP technologies and speech technologies to deliver solutions in 2 different streams of office, right? The first stream is under the conversation intelligence side of the platform, where the objective is to be able to derive insights, intelligent analytics, which can help rainmakers take those crucial decisions in improving that customer experience, right? And as a part of this particular stream of platform, we have various individual modules, which can help us deliver solutions such as speech-to-text modules or audit automation modules, which include NLP technologies of entity extraction and [Indiscernible] identification, right, which can help you understand your customers' pain points or your employees productivity analytics and so on, right? And the second stream of offering we have is intelligent process automation, which leverages some of the cognitive services to deliver smart assistance either in the form of voice bots or e-mail bots and chat bots, which can help you automate some of the redundant transactions and conversations that happen and reduce the manual intervention that is required, right? And using these underlying technologies, we have developed some industry-specific solutions. We have product types all of these technologies to deliver solutions which are very domain specific, right? So we have had the opportunity to work with various verticals, such as at BFSI, edu domain, health care or manufacturing, aviation and automotive as well. And some of these solutions are the ones that you're looking at the screen right now. Some interesting mentions are what we have been doing with the BFSI industry. We have used speech technologies and NLP technologies to deliver a product module called as propensity to pay, which essentially tries to predict customers' propensity to pay back EMI while trying to undercover insights from their conversations with the agent, right? And the same underlying technology can deliver warranty analytics and assess the claims, fraud detection as well for the automotive sector. So that's on to the conversation into the side of the offerings. But coming to the automation side, we have biggest product modules, which essentially try to cover the information retrieval system, which is nothing, but trying to be able to extract information based on the user's intent from semi structure or an unstructured database, right? And we have developed specific use cases for the automotive industry as well as the retail and manufacturing industry using this underlying technology as well. So with all that said, I have one interesting use case that I would like to showcase today what we have done for the finance BI team. We see that in the finance domain, you usually deal with a lot of documents, plethoras information. And extracting this information is ardent process. It takes in a lot of time and some of it effects to employee's productivity, right? So today, I'll be showcasing one particular use case with the finance BI team and how we have tried to transform and better the user experience, right? [Presentation]

As you can see, [Indiscernible] helps with a hyperpersonalized employee experience, at the same time, reducing the overall turnaround time that is required to be able to extract this kind of data from within the databases.

Good morning. Today, the industry is moving towards a hybrid cloud and virtually managed network. Due to the pandemic and the onset of 5G, this transformation has increased rapidly. There are certain other trends also that have affected the industry highly such as hyper automation to manage 5G services and software-centric platform. These trends in turn have created certain challenges within the industry. The first challenge is vertical silos and vendor locking, which in turn increases the CapEx and decreases the flexibility of the network functions. Also, it is key that we effectively manage the workload and automate these processes within the network function. The last challenge is that there is a high infrastructure and data center maintenance cost. So looking at these industry trends and counteracting these challenges, Tech Mahindra developed an end-to-end innovative, secure and automated cloud platform called netOps.ai, which is powering telco networks to digitally transform and enables smooth deployment of 5G within the network. The core of this solution is cloud native and multi-vendor support end-to-end hyperautomation and 5G orchestration management. NetOps.ai has given certain tangible savings also, such as 70% reduction in network planning time, 40% reduction in CapEx and OpEx, 80% reduction in rollout times of metric function upgrades. Tech Mahindra has also signed a strategic collaboration agreement with one of the top tier hyperscalers within the industry. Thank you.

So the [Indiscernible] problem doesn't end here. Traditionally, in CSPs, we have the cost structure mainly divided into 60% capital expenditure and the rest being operational expenditure. With the onset of 5G and IoT, we have an exponential rise in number of connections as well as huge traffic flow inside the network, which puts us on the already complex network. And adding on to the challenge is mainly bucketed into 3 categories, being network services, operations -- field services, as well as the customers care services. So there arises a need for a solution, which helps the CSPs, keep a check on their operational expenditure. Tech Mahindra sees this as an opportunity and to help them overcome this challenge, we have developed an AI-powered solution named, AI [Indiscernible] which leverages intelligent automation and analytics and help them streamline their operational processes. Under this solution, we have a bouquet of services mainly capturing all the operation processes, ranging from intelligent run to lots of automation and overall customer experience management. The solution in its Phase 1 is already deployed in a few of the top operators and some of the major benefits they have witnessed in their network is significant cost reduction up to 40%, 50% as a last few of the soft benefits being a real-time network insights as well as early-stage fall detection. Now I would like to showcase you one of our solution video for an overview. [Presentation]

Hello, everyone. My name is Manish Lohar and I'm going to walk you through an overview of our TechM GAiA offerings. Basically, it's a suite of products, interconnected products, which give you the AI/ML leverage to our customers. So what is TechM GAiA? TechM GAiA is a suite of products that help our customers leverage the latest innovations in AI/ML and data science for their own needs. How are we organized? So all our offerings are organized these top down. At the top, what we call it as GAiA.business. They are aligned to the vertical lines of business, for example, of health care, manufacturing, BFSI, and BFSI, health care, et cetera. The next level is the gaya.IT, which focuses on the IT infrastructure and the IT operations needed to realize the AI/ML technologies for our customers. So if you look at them, you can see we have offerings in the security operations space, in the DevOps space, in the service desk AI, infra ops AI, for example, workplace AI, et cetera. And GAiA.core represents our core products, which are supporting the above layer in terms of the end-to-end AI/ML processes within the AI/ML domain. For example, model marketplace is our unique product, which helps customers manage their models, host their model just like models in a play store, rate them, reuse them, retune them and organize them like in a way of an organizational asset and it can be leveraged by the entire organization rather than every department reinventing the wheel. So that's carried out IT. Another important product there is MLOps, which is the GAiA platform itself, which helps our customers -- in the end-to-end ML operations life cycle management, right from the data, right up to the model hosting, model monitoring and model archiving. So that's the GAiA.core and of course, we have a strong GAiA partner ecosystem with the H2O of the world, which -- with the hydrospheres of the world with UiPath and also with ServiceNow, Dynatrace, et cetera. So here, we bring together the best of the technologies, best of the minds together in order to create co-innovations with the customers and also help them reap the benefits of that. Next slide. So what is the value proposition we bring to the customer? First and foremost, you get a solution and a platform in one place without the usual problems of integration, usual problems of silos and mismatches. Then there is no vendor lock-in because everything we do here is based on open source that guarantees our customers easy availability of skills and resources in the market and generally a long-term risk mitigation for the technologies and people. We also do continuous investments in these products to stay latest -- to stay abreast of the latest happenings in technology so that our customers can leapfrog the innovation, leapfrog the learning curve and be ahead in the game for their competition. And of course, co-innovation is one of the TechM's deeply engraved spirit. For example, we have hyper innovation in the TechM and AT&T in our Acumos platform, which is essentially from which GAiA has been built, and that is providing -- and we have about 25 customers who are already leveraging it across the world. What are the benefits for our customers? So there are some numbers here, which are approximate, but they very well represent the reality. So it actually helps our customers accelerate the AI journey by 3x and optimize AI/ML operations by around 35% by reducing the hiccups and the mismatches of different technology silos. And most of the times, our customers are also going to get a lot of prebuilt models for whom a lot of effort has been done to build them and tune them and be ready for the consumption. And also the customer gets the choice of the best technologies in the class. Next slide, please. So here are some of our key AI and automation assets. So AIOps is an integrated AI solution, which is using machine learning and NLP to simplify the -- and automate the routine IT operations of our customers, and that enables actionable intelligence and faster, productive -- proactive IT operations. MLOps and marketplace is our GAIA platform, MLOps, which is powered by the Acumos.org's open-source product, which was created by Tech Mahindra along with AT&T. And then it is hosted by the Linux Foundation. And next one is the speech.ai, which is essentially the speech analytics, which is -- I'm saying it is the product in that space and saying it is able to derive actionable insights using speech to -- advanced speech-to-text models. And also, it is able to code contact center transcriptions, audit automation and guided customer journey. Data management, again, like in AI/ML space, we need to -- I mean we know that in the AI/ML space, there's a lot of human effort also going in, in terms of labeling the data sets. And that's where Datamime can help our customers crowdsource and scale the data annotations work and also help them experience the AI/ML processes for those use cases. Intelligent automation, you know, is a platform, which is -- which can be used for front-end as well as back-end operations, and it can help really in kind of conversational AI with the customers and employee engagement also. Analytics. Sphere analytics platform is one of our flagship platforms, which helps us integrate via API, the existing core systems or IoT via standard protocols, and it greatly enhances our customers' ability to quickly leapfrog the efforts and get actionable insights. Next slide, please. So quickly, let us do a double-click on the GAiA platform, which is the GAiA AI/MLOps platform I'm talking about. So it is an enterprise-grade AI/ML life cycle management platform, and it is co-created with AT&T and Tech Mahindra. And it is open source through Linux Foundation. So you can see Tech Mahindra is one of the premier members of that open-source group. Next slide, please. So what is GAiA? The heart of the GAiA is basically to facilitate the users as a seamless experience for machine learning life cycle models, development right from the data to the models, hosting and to the insights and to the health monitoring. So GAiA platform brings or offers rather a collaborative marketplace, which is very unique and USP for our product, which helps the data science teams and also the operation teams across an organization to be on a single page in terms of the models, in terms of the versions of the models, in terms of the models' documentation, reuse and also all the artifacts and the management of that under a single window. So that's basically the collaborative marketplace. It also has artifacts for models where the different personas or the different kind of roles in the organization can collaborate and they can really help model to go to production and also manage the production models, et cetera, et cetera. Then there is, of course, monitoring and benchmarking. There is integrated MLOps for governance, which is rather more of an industrialized requirement rather than the pure data science. And of course, this whole platform is technology-agnostic in the sense that you can onboard models from different technology stacks. For example, I can onboard an R model. I can onboard a sci-fi [indiscernible] model. I can onboard a TensorFlow model. I can onboard even a PyTorch model. So that's basically the technology-agnostic onboard model management. And it can also deploy the platform to on-premise infrastructure. And it can also deploy to one of the popular hyperscalers like Azure or AWS or Google Cloud. Next slide, please. So that's about the TechM GAiA, and we will now come to the TechM AIOps.

Hi. [indiscernible] here and what you see on the screen here is the TechM GAiA AIOps offering. As you can see, we have various offerings for workspace service desks, intra operations, application operations, network operations and most importantly, security operations. It's a platform as well as a framework, which Tech Mahindra has considerably invested in the previous 5 to 6 years. It has -- it carries a reusable asset library of almost 600-plus automation bots. It's a strong -- it has a strong ecosystem of partners, maximizes value from existing investment in tools, recognized by industry-leading analysts like Gartner, HFS and others. We have more than 20-plus deployments across the world. On the right-hand side of the screen, you can see the various outcomes. As you can see, anomaly detection, virtual assistance, assisted RCA are the outcomes which it delivers. If you look at it on the broader side, it has 3 major outcomes. The first outcome is to basically automate incidents. The moment there is an incident which is raised and it has a known resolution and high confidence level, it automatically triggers the automation to deliver close to automation. The second outcome is primarily to assess the support staff by providing the various contextual and intelligent insight into the incident so that they are able to correlate the various information they had been provided and close the incident as soon as possible, and that saves a lot of manual effort. The third and most important outcome is delivered by the predictive analytics of the platform. It primarily is all about modeling the customer data. And from that, it is able to -- using machine learning algorithms. Like analytical change is able to detect the outliers or any unusual activity within that data and helps basically predict application failures. And that basically helps avoid the business outages. So that's about the whole platform.

Hi. This is Akash. I represent Yabx, a fintech venture bringing financial access to millions of new to credit and underserved and unbanked customers worldwide. If we look into the problem, there are more than 2 billion people worldwide who still do not have any kind of access to the financial services. Now this includes loans and savings. Now this happens because of their social economic status. They are terrified, and they cannot meet the basic requirement of a formal banking institution. So in essence, banks, they do not have enough data to understand the financial behavior of these customers. So -- and somebody they cannot underwrite any kind of loans for these customers. So access to financial services opens those for these customers through many new things. This includes access to education, access to health and access to other basic amenities. And this is where Yabx comes into picture. We make financial services accessible, relevant, affordable and useful for the -- this new-to-credit customer segment. We call it Yabx collaborative lending approach. I'll be explaining in detail about how it works. So there are 3 legs of the ecosystem. We work with data partners to get access to telco data, wallet transaction data, cost data and Google data, basically the alternative data, which gives a measure of -- through which we are using AI and ML-based financial models, we can get a measure of the credit worthiness of the customer. And then we collaborate with network partners to have end-to-end access to the customers. And then the third leg is the fund partnerships for regulatory and fund perspective. Now Yabx solution, it works in 3 ways. One, we have the alternative data scoring platform, which using the alternative data we got -- give some measure of the customer creditworthiness, his ability and his intent to pay. Second leg is customer -- the end-to-end digital life cycle management. This includes end-to-end low life cycle servicing right from the disbursal to repayment to collection and then the credit score. And third and the most important part is the unsecured portfolio management. It is very important to highlight that the loan which we are giving in these developing markets, these are unsecured loans. So basically, there is no collateral, right? So managing this portfolio in a digital way is the most important crucial leg and that is where we accept. Our team, they have got -- I would say they are one of the best in the industry, and we are managing this portfolio very well in our current deployments. Talking about the products. We have got a wide variety of products, including cash flows, checkout, real-time and handsets for the retail segment, while for the SME, we have working capital, supply chain and merchant cash reports. Now we understand it very well that financial inclusion, it's a bridge between the economic opportunity and outcome. So that's why we try to address this gap between the credit appetite and access to finance for the underserved and new to credit segment. So we are doing it in approximately 22 countries worldwide. Now talking about our right to win. So we have got a partnership with leading telco operators, e-commerce providers, merchant acquirers across Latin America, Middle East and Southeast Asia. We have got a strong management team, one of the best in the industry with cumulative more than 100 years of experience. Our scoring and loan management platform, it's one of the best in the market. We are scoring more than 100 million creditworthy customers on a monthly basis, processing more than 100 billion data records every month. Our default rate, it's one of the lowest in the market, standing approximately in single -- low single digits. And our product range is quite diversified. Most of the other players in the market, they have 1 or 2 digital products, while we have got a range which encompasses the entire retail and SME loan portfolio. Talking about scale. Right now, we have presence in approximately 22 countries across Lat Am, Southeast Asia and Africa, as you can see over the map, and this includes live and underdeployment projects. That was Yabx. I'll be happy to answer any questions. Thank you.

I'm [ Vivor ], and I'm here to represent MobiLytix. It's a platform about powering champion marketers. As a platform, it's AI-powered real-time contextual marketing platform. We primarily focus on telco marketing automation. The addressable market base that we have estimated, as per Forrester, is around 1.3 billion. If you consider yourself in the shoes of a CMO, there are primary 3 [ asks ] that they are asking for. The first one is in terms of real-time personalization at scale. To arrive at this, they primarily require a unified customer profile that act as the core, along with to be supported by AI powered since we need to drive automation and personalization at scale. That's where the studio is based upon. Secondly, they require the platform to be agile. Given the large number of interfaces in a telco IT system, the platform needs to be agile to be able to manage those changes and integrations. Thirdly, in terms of having an integrated martech platform given the current marketers have a lot -- many marketing platforms that are not interacting with each other and hence not achieving the desired results. That's where our integrated martech platform in terms of MobiLytix marketing studio comes into play, which primarily has 4 products, which are separate as well as integrated amongst each other and supported by 2 services. The first product is in terms of MobiLytix real-time marketing, which is about driving real-time interaction and multichannel automation. It is further supported by our new platform in terms of MobiLytix AI, which is a data science workbench, Thirdly, we have MobiLytix digital marketing, which is primarily focused on automating about digital channels. Fourthly, in terms of MobiLytix rewards, which is a loyalty and rewards platform. The first service is in terms of Data Science as a Service, which is primary to -- for specific use cases of the business where we build it from the scratch and transfer it to the operators. Secondly, we have managed marketing services, which comes with more than 10 years of experience in this particular domain to help the telco operators achieve the key results that we are arriving through this platform, which is nothing but incremental revenue. And we have been able to constantly demonstrate around 4% to 8% in terms of incremental revenue for the telco operators. That's where I want to focus on the case study that we have done in our recent deployment where we achieved around 6% incremental revenue through the deployment of MobiLytix Studio. Take you into more details, I have a video that gives an overview of the platform, and it's a very interesting video. So let's meet Jess. [Presentation]

So to summarize, it's a platform about telco marketing automation, and we have been able to constantly demonstrate results in the range of 4% to 8% in terms of incremental revenue. Thank you.

Hi. My name is Pritish, and I represent Factoreal. Factoreal is an automated omnichannel marketing platform with an in-built customer data platform. What that essentially means is you can manage all of your marketing needs across multiple channels such as e-mails, SMS, mobile push notifications, social media ads and post and WhatsApp all in one platform, along with your customer data. You can analyze, target and segment different users on our platform and leverage them to run your campaigns and journeys. To understand how Factoreal can help you, I'll show you a simple example of one of our clients. So this is Jacksonville Jaguars. With Factoreal, they were able to reduce their tech stack from 9 different platforms that they were using to one. That is Factoreal. With Factoreal, they were able to reduce their annual expenditures by $150,000. Their annual yearly manpower went down by 600 hours, and they saw a 200% increase in the engagement rate. This also led to a record highest ticket deposits. So that's how you can see with Factoreal, you can combine all your different needs in one platform, along with the customer data platform. I will now show you our platform. So this is our Factoreal platform. As you can see, we have dashboards for every section in the platform, be it your summary of all your websites, mobile applications on the platform that you have connected, your Shopify stores, all your different audience and journeys and campaigns that you create on the platform. For example, all the data of your customers that are captured by Factoreal can be analyzed and filtered to create targeted segmented dynamic audience that you can use in real time. So let me give you an example. Let's say you want to run a lead generation campaign, and you would start with a Facebook campaign. You would target your users there. From there, you will move to sending them an e-mail after a couple of weeks. And depending on the interactions on the e-mail, then you will move to sending them an SMS or another e-mail. As you can see in this example, we have moved from a social media site to e-mails and to SMS-es. So these complex journeys or campaigns can be created in Factoreal very simply using our journey builder. So I'll show you how simple it is. And this is our journey builder. So using this, you can create real-time journeys, combining multiple platforms, multiple channels and automated actions using -- depending on how users interact in those journeys. Once you have created, analyzed and launched your campaigns, you can then use our analytics tool to figure out how your campaigns and journeys have been working and then take corrective actions on each step. I'll just show you that. So this is our marketing dashboard where you can analyze every part of your campaigns and journeys with -- be it on your website, your mobile apps, your e-mail campaigns, your social media campaigns or your SMS for mobile push campaigns. You can trail down to as cheap as you want on all these campaigns so that you understand exactly how your journeys and campaigns are working, and you can take the right decision at the right time. That is for Factoreal. I hope you enjoyed this presentation, and have a nice day.

Hello, everyone. I'm Kanchan Bhonde. I am a part of the Makers Lab, which is the innovation wing of Tech Mahindra, and I lead the agritech research and product strategy over here. Agritech is an important area for India as well as the world, and we have been doing a lot of research and work in this area. One of the things that we have done is called Atmanirbhar Krishi app, which we built with the Government of India, the Principal Scientific Adviser's Office. So what happens is there is so much of information which is locked into different departments of the government, whether it is information about soil, water, weather, and it is not very easily accessible to the farmers. So we have built this app on a platform called KisanMitr, wherein different departments have provided a lot of different data, and it has been shown on a very simple to use app. So for example, we have got the land crop, soil information. So land surface temperature information is coming from ISRO. We're getting a lot of information about soil and the water from Agriculture Ministry, Water Ministry. And as you can see, this is a very, very simple app where you get the information about water like surface water, groundwater, also a lot of different parameters which have been detailed to show how to use them. The app is available in 12 Indian languages. It also has weather information and some advisories coming from IMD, which can also be shared across and can also be heard using speech to text. We also -- the app takes the location automatically. But if required, you can also change the location and get the data for a different location as well. This is 0 tax, 0 cost app. So the farmer does not need to register nor do they need to pay, and anyone in India can use this app. We have a very good potential to take this division across the world. Apart from this, we also have done a lot of different kind of research, and one of the research is related to weather forecast. We have heard a lot of times that the old Indian Almanac-based, there are multiple solutions which are actually very useful. And we did a research with 40 years of rainfall data using Panchang, and we have got very, very good results. We have brought this out as a platform and an app. And this has been made available to all the users across the world. We have found very, very interesting and consistent results. [Presentation]

So these are some of the things that we are doing as a part of the agritech vertical of Tech Mahindra, and we would like to do a lot more across the world. Thank you.

My name is Umesh Kad. I am part of the Makers Lab IoT initiative. We are working with Army and multiple initiatives. We have set up a lab at the CME in Pune. We have identified multiple goals, short term, medium term, long term. Basically, these are the goals which are using the latest technologies like AI robotics quantum. We are doing some initiatives with the Army, primarily the one which actually I'll be talking about is Vetturino using the convoy management system. And Vetturino is our entirely in-house-developed device, telematics device. We have developed the platform. The platform will capture the 160 parameters from the vehicle such as the speed, cooling temperature, RPM, et cetera. In case any issue in any of the vehicle, it will alarm -- it will send an alarm to the convoy leader. Convoy leader will then take the necessary action. It will also show the position of the vehicle to the convoy leader. So in case if vehicle is stopped, the convoy leader will be able to identify it. We are working on developing the robotics, the swarm robotics for Army. Primarily, it will be used for the rescue mission by identifying the mine field, et cetera. We have developed -- we are actually developing the war-gaming for Army. It will be used in the latest state-of-the-art technology such as algorithm warfare. And we have developed a conversational bot for Army. This bot is being used to train the Army officers on various topics that they are undergoing in the training, too. We have developed a cloud solution for Army. This is exclusively private secure cloud for Army. It will be used for Army, Navy and the Air Force to store all their information, to have all the transactions, which will be stored on the cloud. So Tech Mahindra is bringing multiple search initiative with the Army, and we'll be looking forward to take this collaboration further and further. Thank you.

We are from Makers Lab, Tech Mahindra's central innovation unit, myself, Shreenivas, Head of Innovation Management. And I have with me Rahul, who heads the design studio for our Makers Lab. So at design studio, we use technologies like AR, VR and XR to solve complex business problem statements. Here, we have one of the use cases given to us by one of our customers that is the Indian Defense Forces. And the use case that has been given to us is how do we train our cadets on arming and disarming of the mine, which is an important part of our warfare. So taking this problem statement, we did design thinking within Makers Lab and came up with a VR module that will help with the training of the cadets seamlessly. My colleague, Rahul, will demonstrate the module, and we'll see how it benefits the entire team working on it. So the VR module that we have created has 2 sections. The first section is where the cadets practice on it, where they try to understand what are the key steps in arming and disarming of the mine, what is the chronology. And the second one is where we do the test, where there is a self-evaluation of whether they have understood the entire steps in the right way. So if you go to the practice, you'll see what are the steps that the cadets need to follow while arming a mine. So as you see, it starts with digging of the pit. And then we have 6 steps until the mine is completely armed. And the last step is that we actually remove the safety lock and arm the mine. So now from the practice mode, when the cadet has actually learned it well, she opts for the test mode. In the test mode, the 7 options are there. And he or she has to actually give the chronology of sequence. And it indicates whether the sequence is correct or incorrect, giving a self-evaluation to the cadet of his learning of the entire thing. So this VR module has been successfully delivered at the College of Military Engineering, and we've trained multiple teams within the Armed Forces using our module. What we've also done is that, taking this cue, we also extended the services to different verticals and customers within Tech Mahindra, and we've solved complex problems using our AR, VR, XR technologies. One of the use cases we have in the learning field is what [indiscernible] will explain subsequently when you move to them. And there are other areas where we have worked using our design studio. So that's all from the design studio of Makers Lab. It's me and Rahul signing off. Thank you.

We are Technodune, a Pune-based tech startup which has been formed and groomed out of Makers Lab here in Tech Mahindra. Now an AIC-integrated startup, we deal in robotics, IoT and the drone space. This includes manufacturing and building robots in spaces such as healthtech, edtech, lifestyle, energy and sustenance and more. Some of our current products include robots manufactured for Makers Lab and use cases such as personal wellness and defense tech. This includes the manufacturing, design and everything done in-house, which will be including mechanical design, construction, all the electronics and low-level driver programming. We are extremely inspired and delighted to be working with teams at Makers Lab and Tech Mahindra. Their mentoring and grooming helps us in doing things much better than what we could have done. Thank you.

Hello, everyone. This is [ Satish Kelkar ]. There is a huge digital divide, not only in India, but across the globe. If you ask me why there is a huge digital divide, and one of the answers would be that people are speaking very different languages. There are 27 mother tongues and 1,645 dialects in India. Most people do not speak English, even they do not understand English. Across the world, English is the third most spoken language, which covers only almost 5% of the world population. So we wanted to bridge the digital divide by attacking the language barrier. And that's why we created a unique tool, BHAML. BHAML means Bharat Markup Language, which supports -- which allows users to write code in their native language. This tool supports 10 Indian languages right now, and the languages are Hindi Marathi, Odia, Gujarati, Bangla, Punjabi, Kannada, Telugu, Tamil, Malayalam and Asami. I would like to give a quick demo of this tool. You just need to use bhaml.techmahindra.com URL, and you will get directed to this tool, click on the enter into the workspace. If you click on the language option, there will be a drop-down menu, and 10 languages will be shown. I have selected Hindi here. You can see the tags are in Hindi. If I select a different language, for example, Gujarati, the tags will be shown in the respective language in Gujarati. Now I would like to write a code in Hindi, so I will select Hindi language. On the right-hand side, you can see, hello there, [Foreign Language]. I would like to bold the word [Foreign Language]. So I'm writing a code in Hindi using a word [Foreign Language] and I will put the word [Foreign Language] inside the code. And immediately, you can see the result on the right-hand side, the name -- the word [Foreign Language] is bolded. So to propagating the tool, we started from the nearby schools. And later on, we put the vision countrywide. I used to be an Uber driver before joining Makers Lab Tech Mahindra, and driving is one of my passions. So I myself went on a mission, which called BHAML [indiscernible]. In this mission, I travel more than 5,000 kilometers, visited more than 33 schools. 2,000-plus teachers attended the BHAML introductory session and 50,000-plus students used the BHAML tool. Some of the visited schools have added this BHAML in their curriculum. And in Punjab, Educate Punjab Project is the name of the institution. And in Jalgaon Maharashtra, with the English medium school, these 2 institutions have added BHAML into their curriculum. Most of the industry leaders have appreciated this BHAML tool. And that's it. Thank you.

Hello, team. In extension to what Shreeni mentioned, herein, we bring all together a new learning solution for all of you. My name is [ Amrita Sohan ], and I would like to show you this innovative solution. So in last 1, 1.5 years, the world has changed 360 degrees for all of us. Everybody is working from home, but everybody is missing office also eventually. What if I tell you that you are at home, but you get to see the office, you get to feel the office even sitting at home? That sounds amazing, right? So this is where we bring this learning solution for all of you. Okay. So recently, Tech Mahindra has launched this VR-based induction. So in order to make sure that all the new joinees get to know about Tech Mahindra's vertical. We have launched this VR-based learning. So me and my colleague, [ Ansen ], are going to show you like how exactly this particular solution can book. So we have one simple VR box and your mobile phone. These are the only 2 things that you need. Simply download this application, a simple application using a URL on your phone, insert your phone, put on your VR goggles and connect it to a simple joystick. This is how you can get to see, experience and learn as well, right? So this solution gives you a complete learning experience. You can turn around. You can experience the office everywhere, okay? Mainly, this is going to be very, very useful for all of us to create that employee experience what Tech Mahindra and all of you look for. In future, we are planning to build much more bigger solutions using the same environment. All of you are the customers. Customers' culture is equally important. So with such solutions, we are going to make sure that we make associates experience the culture of their customers and to help in the business. So along with that, we have some of the other future skilling solutions that we already have. As you can see on the screen, we have got something as a portal of learning [indiscernible], which is nothing but a one-stop shop for all the learning offerings. We have this VR-based learning. And very importantly, we have something as a tie-up with HMM Spark. So right from 1 to 2 minutes of articles, videos, the learning has become very handy. You can access it anywhere on your phone, which is very, very simple. So thank you so much for your time.

The U.S. virtual health ecosystem is broken today. Physicians cannot talk to their patients. They do not know their patients. They're not able to provide personal care to their patients. Patients, in turn, cannot reach out to their physicians. They do not have a point of connect for their physicians. We present to you HealthNxt, the Tech Mahindra's unicorn dream. HealthNxt is an integrated virtual health platform. It's a digital front door for all the needs which a patient has to connect with their care provider. It has integrated telehealth, it has integrated remote monitoring, AI-based symptom checker, appointment scheduling, anything which a patient needs to connect with their care provider. It also, in turn, transfers that data, that information, which is collected from the patients, to the care provider and in their core EHR ecosystem. Today, this is a $94 billion total addressable market, currently being addressed in part by simple and small point solutions. HealthNxt provides an integrated virtual health journey for a patient and provider interaction. That's the USP which we build on to connect the physician-led expertise with the design thinking experience to create a human-centric design for HealthNxt. I'll transfer it over to [indiscernible] to take you through the demo of HealthNxt platform.

Well, thank you, [indiscernible]. So as you can see behind me, now we have the HealthNxt home page, which the patient has access to. Here, I'm going to showcase to you a couple of different tiles that we are giving access to the patient. If the patient is an English- or a Spanish-speaking patient, they can change the language at the top. And some of these tiles talk about different features like telehealth, urgent or emergency care, my vitals, and medication. A lot of this data is coming from multiple places. The value proposition of HealthNxt is to consolidate all this data and give it to the patient in one single screen. So I'm going to walk you through a patient journey of a 56-year-old patient who has severe chest pain, and we are going to walk you through how HealthNxt human-centric design is going to help the patient navigate to the right care provider. So we have a feature called symptom sector. So once the patient suffering with chest pain clicks on symptom sector, they will be shown different conditions based on the severity. So in this particular case, the patient has severe chest pain, so we are going to click on the emergency and urgent care. So in this, I'm going to identify the symptom of the patient here, in this case, it is chest pain, and submit it. Based on the patient location, the system has automatically identified that for a severe chest pain, the patient needs to visit the ER facility at the hospital. So it has identified the nearest ER facility, and it is about -- the next visit for the ER facility is about 35 minutes. So it is asking the patient to be added to the wait-list. I'm going to add the patient to the wait-list. So as you can see on the screen here, the nearest ER facility has a wait-list number of 4 for the patient, and there is a 25-minute wait. So the patient has directions to the hospital. So he can navigate to the nearest hospital and get care. So this is a human-centered design on which HealthNxt is built. So based on the patient's condition, we route them to the nearest facility or we ask them to do a teleconsult or any other condition -- based on their condition, we basically triage them to the right care setting. Thank you.

Hello, everyone. This is Nitin. And today, I'm going to introduce you one of the TechM IP product solutions called Sayint, which is a conversational AI platform. So we all agree that customer experience is one of the top most priorities for any organization. So today, we also know that conversations and customer experience go hand in hand. But that's very straightforward and very good in theory. But during our experience of talking to multiple stakeholders and rainmakers and industry leaders, we have understood there are various challenges that each of these organizations have, right, and which can be broadly classified into customer experience, employee experience and also employee productivity, right? So some of the challenges that we see from a customer experience end is that organizations, a lot of times, they fail to try and identify the blind spots within customer interactions, right? This could be the intent behind our customers' conversation with the organization or it could be a pain point, which is being unidentified. And in the plethora of conversations that happen with multiple individuals, these tend to miss out as well as trying to be able to move past the traditional experience. It could be the search experience or it could be the navigation experience in a particular website or a mobile application is one of the key challenges that our companies are exploring. And along with that, trying to be able to gauge and monitor your employees' performance, especially if you're into contact center domain, and you want to be able to monitor your agents' performance. It becomes very crucial since they are the front line. Being able to evaluate them and make sure that they're in their top-notch forms becomes a crucial requirement for the organizations. Should I go ahead? Becomes a crucial requirement for the organizations. And being able to provide all of these solutions in a very customized fashion is something that has been missing out throughout the industry. And the personal concierge services and customization is one of the key USPs that organizations are failing to achieve, right? Today, I'll be discussing about how Sayint can solve some of these problems, leveraging some of the state-of-the-art AI/ML technologies, NLP technologies and speech technologies to deliver solutions in 2 different streams of office, right? The first stream is under the conversational intelligence side of the platform, where the objective is to be able to derive insights, intelligent analytics, which can help our rainmakers take those crucial decisions in improving their customer experience, right? And as a part of this particular stream of platform, we have various individual modules, which can help us deliver solutions such as speech-to-text modules or audit automation modules, which include NLP technologies of entity extraction and identification, right, which can help you understand your customers' pain points or your employees' productivity or analytics and so on, right? And the second stream of offering we have is individual process automation, which leverages some of the cognitive services to deliver smart assistance, either in the form of voice bots or e-mail bots and chatbots, which can help you automate some of the redundant transactions and conversations that happen and reduce the manual intervention that is required, right? And using these underlying technologies, we have developed some industry-specific solutions. We have productized all of these technologies to deliver solutions, which are very domain-specific, right? So we have had the opportunity to work with various verticals such as BFSI, [indiscernible] domain, health care or manufacturing, aviation and automotive as well. And some of these solutions are the ones that you are looking at the screen right now. Some interesting mentions are what we have been doing with the BFSI industry. We have used speech technologies and NLP technologies to deliver a product module called propensity to pay, which essentially tries to predict customers' propensity to pay back EMI while trying to undercover insights from their conversations with the agent, right? And the same underlying technology can deliver warranty analytics and assess the claims of fraud detection as well for the automotive sector. So that's on to the conversation [indiscernible] side of the offerings. But coming to the automation side, we have various product modules, which essentially try to cover the information retrieval system, which is nothing but trying to be able to extract information based on the user's intent from a semi-structured or an unstructured database, right? And we have developed specific use cases for the automotive industry as well as the retail and manufacturing industry using these underlying technologies. So with all that said, I have one interesting use case that I would like to showcase today, what we have done for the finance BI team. We see that the -- in the finance domain, you usually deal with a lot of documents, plethora of information. And extracting this information is an ardent process. It takes them a lot of time and some of it affects the employees' productivity, right? So today, I'll be showcasing one particular use case with the finance BI team and how we have tried to transform and better the user experience, right? [Presentation]

Welcome back, everyone. So hope the food was good, and you enjoyed the morning sessions. We have more on the list for the second half. So now let me call upon Jagdish Mitra, Nilesh Auti, Gautam Bhasin and Vivek Agarwal for the next session, which is enabling business transformation.

Hi. Good afternoon. I hope the food was not too good. I'm not going to start with the old cliche about postafternoon sessions because I think with today's new world and post COVID, staying at home, most of us have realized that the afternoon session is probably the most active session. And you've got to keep fit, you've got to keep running, you've got to keep agile. And as our message says, it's about imagine, build, but do run. And that's what we're going to talk about. This section is about some of the things that we spoke about during the opening remarks that our CEO made, and we talked about a few of those service offerings, 4 of them, that we said we're going to put our big bets on in terms of making them a $1 billion service offering. Similarly, we talked about 4 verticals or industry domains outside of the big daddy in the room or rather the big elephant in the room, CME, and making up the other 4 verticals running towards being the $1 billion vertical. No, [indiscernible] meant by big elephant and agile elephant, not -- no, absolutely not. Absolutely not. You know where our heart lies. So the whole objective of this session is to pick up those 4 key verticals and talk about how -- what's our view, what's our vision, what's our confidence level of making these verticals be the dominant factor of growth and helping us drive that growth. I'm going to start off with high tech, and then some of my colleagues, as you heard, would follow through and talk about the other 3. So one of the things that people probably talk about saying, what is different? I mean in a sense, industry solutions are part of every peer group in our organization. Service offerings are similarly part of every peer group. So what's different in the way TechM approaches it? The way TechM approaches it is different in 2 ways, and it's changed more so in the last couple of years. We talked about account segmentation, which basically meant that we focused on a certain set of accounts. We have our internal names for it, CEO Club, Falcon, Rise, so on and so forth. But each of them are primarily to give the fact that there's each [Audio Gap] rather than having a one-size-fits-all opportunity. That's the whole idea of segmenting, as we all know. In this segmentation approach, we made the client partner of that account and the vertical spark. So we created a squad out of which the vertical spark became the key partner for providing transformational thoughts and transformational ideas. So the idea was that the vertical guy will bring in domain expertise in every industry, and to the client, brings in the client specific thought process and makes the change in terms of what the difference of solutions and service offerings would be. That's the first structural change. Second is something that we talked about in this room itself a couple of years back, which we call the 25x25 approach, which basically meant we wanted to take about 25 solutions with each one generating about $25 million each and driving that growth. I'm glad to [Audio Gap] so some -- so the basic idea of the 25x25 approach was that we will start to create industry-specific solutions, and that industry-specific solutions will drive differentiation for us in the market. I'm glad to report that as we enter into the next financial year, your company would be delivering approximately about 21% upwards of just specific industry solutions. So that $1 billion-plus vertical solutions will be specifically being offered and revenue generating for our customers, which is a good sign because we all know that most of the discussion that we're having with our customers today is primarily about business transformation. And the business transformation is led by industry service offerings. So with that, let me start off with one such vertical that we have specifically invested in and how we are trying to build the capability in that offering and what's been the journey so far. You have the presentation there? When technology fails, it has to fail with a slide that's called high tech. So this is just to make it prove that we are all ultimately -- there's a human element to every technology. So basically, this is an industry that we've been tracking extremely well. And over the last 2 years, we have seen exponential growth in this, approximately about 1.7x, as it says. And it's grown across the board across these 3 key customer segments, and you can see the kind of footprint that we have put together, the semiconductor companies, the hyperscalers and the ISVs. Each of them, and we all know what Forbes has taught us, that the maximum wealth being created now is biotech companies. And that's where you hear every day the other $1 trillion market cap company that's coming up is primarily out of this vertical. So the whole focus in this vertical was primarily to focus on 3 areas: product engineering, IT operations, digital operations and IT transformation. The product engineering part, I'll talk about it a little more in detail later. So what I'll talk about more is -- here is the IT transformation and digital operations. In IT transformation, it's no different than what any other enterprise is going through, except the fact that most of these businesses, as you know, are thriving on moving towards a Software as a Service platform. So whether it is a business on-prem product company or an ISV, which actually delivers these kind of solutions, its capability to drive that business is going to be dependent on how quickly it moves its product and portfolio to a Software as a Service business. Coming back to the next level of what the trends we are seeing in the market. So that's the journey over the last 2 years. It's an exponential journey, it's a growth journey, which almost doubled over the last 3 years, created approximately about 70 multi clients, 50 customers with whom we have created patents and products. And almost all of the 70 marquee clients, about 60% of those, we have a 360-degree relationship, which basically means we do sell to them, we build their products, and we also go to market with them. So there are 3 aspects of the journey that made it stronger for us. But as we go forward, there is a trend that we are seeing. And I think this is an interesting trend, which is really exploding on our face. We can see the immense work around the intelligent products. We all know we live in our homes where we keep saying, "Alexa, do this. Or Google Home, do that," or in our cars these days, we talk to them. It's just the huge number of intelligent products that are coming into play, whether you take smart homes, lighting, trains, electricity, every aspect of it. The whole IToT integration is there for us for consumers to look at. Actually, there are statistics that says today, approximately on an average household in America and the developed world has more than 20, 25 connected devices. By the end of next year, it would be 50. So that's the explosion of the connected devices that you would see on the intelligent products. The second area, which is the new age tech, you see the whole rapid acceleration of services that are being asked for as people start to look for products and services, the huge amount of exclusion in the way products are getting launched. The same -- Amazon, for example, there's a story about a code being delivered -- every 11.7 seconds, a new code gets delivered. There are approximately similarly a huge number of changes that every product company is making on a daily basis. So gone are the days when you would talk about releases that take months and years or quarters to build. The product engineering world has changed towards doing it in days, and that requires and creates an opportunity for us. Similarly, all the other aspects, user-generated content. The user-generated content itself is a $30 billion market, growing at approximately a 10% to 15% CAGR and has a significant amount of opportunity for everything. We know the one that we use every day, the maps, is a clear example of our user-generated content. It has become a part of our lives and therefore, the ability to be able to mine that. This obviously creates a top line impact across the board, but most importantly, I think the area to look for is the opportunities that it creates for people like us and the solutions and the products that it creates. These trends I would pick up on, user-generated content, new product and service and as a service, that's coming together with 3 of our clients as case studies that we've done. Especially in the area of user-generated content, you can imagine the humongous amount of data that it gets created. This with one of our West Coast clients who are known for producing some of the biggest mapping applications in the world. We are the ones who are helping them data mine it, help them put together the data across for applications and enabling them to drive insight out of it. And we are part of their solution team, and we are using some of our products in driving that. Similarly, in the area of new product and service, again, a large collaboration software company, again, out of the U.S. is driving its change from on-prem to SaaS, and that caused a huge amount of transformation in their product journey. We are enabling that through our platforms and services. And similarly, as a service, as you've seen and I talked about that every product company that you see has started to build that capability over a number of years, that everything that is being bought in the high-tech world, whether it's software or any other consumption, is through as a service model. As we do that, it didn't happen -- as they say, Rome wasn't built in a day, so was in this vertical. This vertical was built with the capabilities that we added and platforms that we created. We added companies like Cerium into the fold with -- specifically with specialization on semiconductors. And that gives us the access on the road into that industry and started working with those guys. But a whole lot of the software platforms that we built, for example, Sayint, I don't know how many of you saw that across being demoed outside in the labs here or in the expo room, expo zone, Sayint actually captures every aspect of the voice conversation that happens with the consumer, mines it, so a huge amount of natural language processing platform that runs by, fix up the data, mines it and provides insight into it. That helps us compete and help platform companies for their data mine similarly. Annotation. Annotation becomes an -- such an important factor of data mining. Which videos, which content, which user-generated content will come into play is all dependent on how you annotate and how you're able to bring an insight from there. So these are some of the IPs and platforms that Tech Mahindra has created, which enables us to win in the marketplace and to the trends that we talked about in the future. But what gives us the confidence more is that most of our business so far has been all in the West Coast of America. So -- and that itself has significant opportunity. You see that every product design -- imagine any other device that getting launched can do with the service offerings that the Pininfarina and BORN can bring together with our XDS service offering of what the design of that product would look like, what the experience of that product would look like, go at the back end of looking at the road map of saying capturing the data, annotating it and providing it as a service. Tech Mahindra today has the whole plethora of service offerings from design to build to make it run. That's the capability that we bring together across the board. And these 3 areas give me the most confidence that there's such a huge opportunity to scale it up. The markets we have only touched upon for this high-tech vertical are all in the West Coast, while we all know today that a huge amount of segment of this market lies in Western Europe, in Southeast Asia and in Japan, which is completely untapped. So that's a huge opportunity for us that we haven't tapped upon. New segments. Ad tech, health tech are all providing devices. We all know through our consumer ideas of digital spends like how devices are taking a role in each of these areas, plus the new age of start-ups. Someone told me the other day that applications every day on Google App Store is 3,400 new applications that get launched. These are companies that get launched. 221 SaaS companies got seeding in the -- seed fund in the first quarter of this year. And this is where the money lies and this is where the opportunity lies as the businesses start to develop. And the third part is the most important differentiator that TechM brings to the table, which is its capability on 5G. And Manish, as he comes along in the later part of this, will talk to you how we are dividing our 5G story into service providers, into enterprises and into devices. And that's an opportunity for TechM to capitalize on. So these are the 3 things that gives me the confidence that this vertical is well on its way to become $1 billion vertical for us. Thank you, and thank you for your patient listening. We will do questions at the end of the session, but I'm going to call my colleague Nilesh who will talk to you about the manufacturing vertical. Thank you.

Thanks, Jagdish. Purpose, performance, portfolio, cricketer Rahul Dravid, the one. In the next 10 minutes, I'll try to connect these dots and tell the story of growth in manufacturing. Starting with purpose. I think when we look at our customer strategy, it's driving a great purpose why we are in this business and what is it that they're going to do for them. So when I take a few examples, the digital journey started on the enterprise side, the adoption of cloud has started. Where the unlocking of big dollar is happening is when the production and R&D opens for the cloud. Now that is one big change post pandemic has started happening across in auto, industrial, process, mining or utility side of the segment. The autonomous vehicles, the autonomous products, the whole adoption of cloud for that, ADAS cloud, and with my friend Suri, we will also talk about in terms of how cloud and building the specific solution for the manufacturing side of the industry so how ADAS cloud is opening up the big dollar opportunities for us. Now in this segment, when you look at Japanese companies, Japanese auto OEM, and they coming up, opening up to see that, okay, my R&D, my production solutions, I'm ready for adopting of the cloud over there, those are the big opportunities for us. The next 3 years and 5 years when we look at map in terms of the kind of product development happening, 80% of the R&D investment is getting reserved for the product, which are autonomous, the products, which are green, circular economy and from the sustainability perspective. Even the areas like the mining segment, which used to be quite laggard in terms of the adoption of the digital, but the green mines, safe worker, sustainability is opening up big opportunities in this segment for us. Post pandemic, another huge change what we saw was whatever the predictions were made for the EV and the whole EV ecosystem in the world has got advanced by at least a year. So whatever the number predictions were there for 2025 has now got advanced to 2024. And as part of that, we are also seeing that the EV coming up with autonomous, coming up with software, coming up with chip and the whole of a cloud, so that's the whole of the ecosystem is building up and giving us the good growth opportunity. The last area from the business model perspective, while the products are changing, while the production is changing and so is the impact even on the way in which the end consumer engagement is happening. The traditional companies moving from the B2B and going towards the B2B2C kind of a model. Many of my companies in the process industry segment are in the industrial industry segment and all that. The CX experience has never been kind of a requirement for their business. So building of the automotive CX, building of the industrial CX, those are the big opportunities for us. So catching on these opportunities, I think the good news for your company is that today, when we work with about 100 different Fortune 500 as well as the new age of the manufacturing companies, the base has been set. Most of the auto OEMs in the world, most of the Tier 1 companies in the world, the big industrial companies in the world, the top 2 aero companies in the world, those are the customers. That's the basis what we have. And on this opportunity, when we see that the areas of CX, cloud, connectivity, engineering is what is going to generate almost 15% of the CAGR opportunity and the new spend for us. So that's going to be a strategy, and that's a base on which we are going to build our growth path. Touching upon the portfolio part. From morning, we heard the 4 areas: connectivity, the network service part, engineering, CX. And when I take these 4 areas and how that is relevant from the manufacturing perspective, and that is what is our right to win, and that is where the Rise phase for the manufacturing has started happening. So the first area where we will cut across was with the chip-to-cloud strategy, the investment in Cerium, which is helping on doing the chip designing for many of the auto companies, building the operating system layer on that, building the software layer on that. Now that's the one big area of the opportunity where we already started and catching. Second area is the CX, which I spoke about is the automotive CX, industrial CX. The whole end experience, the way in which engagement with customer, the vehicle diagnostic, the whole servicing of the vehicle, servicing of aircraft, servicing of the gas turbines in a remote way through AR/VR. One of the world's largest AR/VR program, where we are one of the top 5 auto OEM in the world, we are connecting 3,000 of their dealers. And through this central help desk, these are the people through the AR/VR we are doing the front-end service for the customers and doing the first-time right and also reducing the lead time for their service. Now these are some of the big transformation programs, which have started happening in the CX kind of a space. Cloud. And many of you asked the question during yesterday, dinnertime, also during the lunchtime is what exactly is Tech Mahindra's cloud strategy. Is it just only about the compute and storage? Or is it something beyond? And what I'm trying to work now with Suri and his team is building the manufacturing specific cloud, what we call it as engineering cloud, industrial cloud, service cloud, ADAS cloud. Now these are the new offerings where the cloud native applications moving on the whole portfolio of the R&D and industrial onto that. So that's a big change and the opportunity for us as we take it ahead. Control tower. Now that's the fourth part of my portfolio where we'll integrate is the 5G part. The control tower is: one is in terms of the connectivity; second is in terms of 5G. The whole strategy is a decision at the edge and machine learning in the cloud. Now that is what we will be driving with the help of the control tower. What has changed in the last 18 months for us is when we started pandemic at that time, these 4 portfolios was contributing just about 10% of my pipeline. Through the last 5, 6 quarters, what we have seen today, this portfolio is contributing almost 30% of my pipeline. Second big change happened is when I take typically in any of the engineering deal. When I -- typically, an engineering deal will not go beyond $10 million in terms of the size. And when we do a difficult work on autonomous and software and operating system development and all that, it gives me a certain pie. But where the super sizing is happening, when we add cloud to that, when we add data annotation to that, our ability to start doing $25 million-plus kind of a deal with some of the largest auto OEMs and the Tier 1 companies in the world, now that's what is the big growth path ahead for us in the next 3 years of time. The road map ahead, I think the auto and engineering is already a fairly large base for us. While we are nearing to $1 billion in terms of the revenue size for the manufacturing, the more than 50% of that is from the auto and the engineering. Now this will continue to be a bread and butter for us. It will continue to give some of the highest growth for us. But the other good news is the next segment of industrial, process and utility. Now these were typically a sub-$100 million in terms of the size for us, but that's the next part of the growth for us. Now some of the highest amount of growth will start coming from this industry segment, this subvertical segment for manufacturing. Your company this year, we consciously took the decision to invest into one more subvertical, which is metal and mining. Again, as I said, it was kind of a laggard in terms of adoption of technology, in terms of adoption of digital. But as we go ahead -- and it's almost like about a $2 trillion in terms of the revenue size. But the sustainability and circular economy is creating tremendous opportunity in this segment. Now that's going to be a new growth engine, that's going to be a new revenue stream for us. The nonlinear areas from CX, combining it with cloud, combining it with 5G and OT side of the security. OT side security is, again, your company is one of the uniquely placed where we take the engineering -- our production engineering as the baseline of our strength, on top of that, added the cybersecurity. So the OT security is becoming one of the key differentiation for us. That's where some of the nonlinear growth will come. And as we go ahead, I think manufacturing -- what you would have seen post subtheme days has always been a consistent player, always been giving year after year, quarter after quarter kind of a growth. The last year was a little setback for us. I think Rahul Dravid has learned quite a few tricks. We have added quite a few things in our playbook, and we know now how to take and play those shot. You will see that there is going to be a consistency. The last 2 quarters already started for manufacturing incomes of giving that consistent and a solid growth. The repair phase was FY '21. The rally phase, today, we are experiencing 14%, 15% of the growth as we continue. And that's why we'll rise towards $1.5 billion vertical for manufacturing. Thanks. Gautam?

Good afternoon, everybody. My name is Gautam Bhasin. There's a typo there. I just noticed that I was walking on the stage. And I'm here to talk to you about our journey in the BFSI vertical. Now BFSI is a vertical, as you are all aware and as some of you have been telling you since yesterday, opens up the biggest opportunity from a technology consumption standpoint. It's the largest vertical from a technology consumption and from a value perspective. Our competition in this space is much, much larger than us or there are niche players in this segment. So as we look at our journey over the last 3 years or over the last 5 years, this is where we have ended up. We focus on certain segments. We focus on certain plans. And we said that we will establish ourselves as a niche player in each of these segments. We will establish ourselves as a significant vendor or a partner in each of the clients that we are presenting. And today, where we stand, we are trending to $1 billion in revenues. We have 3 of the top 10 of the Tech Mahindra accounts from the BFSI vertical, one in the top 5 as well. And we continue to go deeper into each of the areas where we have established ourselves. So going forward, what do we do? So each of these segments, each of these areas where we have established ourselves, where we have built credibility, where we have built references, where we have built a fairly significant capability, we go deeper into these areas. We go into areas like core banking, which is a significant area for us. It's an area where we are one of the larger deployers from a package perspective -- a third-party package perspective. We look at multi-country rollouts. We look at the new banks, which are being set up. And we start establishing ourselves in that space. Lending is another segment where we have a fair bit of assets in play. We talked about Yabx in the morning. We have a platform of our own from a loan servicing standpoint. And we are looking at establishing even origination capabilities, which allows us to -- we are establishing origination capabilities from -- which allows us to go end to end from a value chain perspective. So each of these segments represents an area where a massive amount of disruption is happening from an industry standpoint. So the headroom to grow over the last -- over the next 3 to 5 years is huge. Our capabilities are there. We are a vendor, which has -- we have our own assets in play, and we are establishing ourselves in a fairly significant way in this space. Payments. Again, real-time payments or cross-border payments is an area where we have established capability. And it's an area where we feel that we can bring in significant presence there. Wealth management and insurance represent some of the other segments where we are present as well. So where do we go from there? So all the foundational elements are in place. We are now a very credible challenger in some of the banks where we have presented. We are a challenger in the marketplace. We are present now -- in the last 2 years, we have been impaneled in almost 10 banks, which are Tier 1 banks, where we have been brought in. They had their own set of vendors. They had their own fairly large partnerships in play, but they have brought us in because they feel we bring in differentiated capabilities. The differentiated capabilities come in, in each of the segments that I talked about, so whether it is core banking, whether it is wealth management, whether it is lending. So once -- so I'll give you an instance of an area where -- for a large multinational bank, where we were brought in, in Asia Pacific last year to do the core banking, wealth management rollout, which then got extended into Europe. And now, we are now being asked to establish and go deeper and do the digital enablement for them in other space. So we have a fairly large deal pipeline, which is very healthy. We are investing in platforms, which we've talked about. So lending platforms and other segments. And we are looking at end-to-end transformation opportunities. So all in all, if I sum this up, we already are at $1 billion. We have all the foundational elements in place. And we will be able to take using these foundational elements and the client base that we have and take it to the next billion dollars. So that's where we are looking at, and that's our story from a BFSI standpoint. I'll hand this over to Vivek.

Thanks, Gautam. Unfortunately, we're missing Seshan Ramachandran, who leads our health care life sciences. So I'm standing. So if I falter, if I ruin anything, don't blame it on me, please. This is the first time we're actually previewing the health care life sciences vertical as a stand-alone vertical. We've not shared data on the vertical before, just because it just wasn't of scale. But as C.P. said in the morning, clearly, as we've looked at our overall portfolio, this is one of those verticals where, through one acquisition and then a lot of work behind it, we've built differentiation. The market is -- the tailwinds in the market overall are in our favor. There's a lot of spending in the entire industry. And hence, we decided that this was the right time for us to focus harder, to invest into it, to scale this to the next level. So this is one of those verticals, which is sub-$500 million. So this is just about north of $400 million run rate last quarter. For the first time, we crossed $100 million in health care and life sciences. And our ambition is to grow this at a very rapid pace to $1 billion as we move forward. When you start looking at what's happening across the industry and how the industry is structured, there are 4 broad segments: provider, payer, pharma life sciences and med devices. And we've further gone in and said that [ waters ] are right to win in each one of these segments. Whether it is our solutions, which is -- whether it's our horizontal capabilities, which then are converted for the industry, or it has certain acquired capabilities as we've gone to market. From an overall perspective, we've decided that the 2 big ones for us to focus on in the near future, in the short term, are the provider segment and the life sciences industry segment. And the way we've built our portfolio is -- one is, in the provider segment, largely from what we acquired from HCI. It's been about 4.5 years. So we've had a tremendous run on synergy. We've won large deals in the industry across a number of service offerings over the last 2 years. And then we will talk about the plan. And the second one is our life science -- pharma life sciences. And that's an interesting industry. There are a lot of horizontal capabilities, which are applicable to that industry, whether it's manufacturing 4.0, it's supply chain. A lot of the core transformation happening in that industry from experience perspective is all applicable where we've now found for ourselves niche area where we think we have a right to win and where we'll continue to grow. I'm going to cover very quickly the broad trends and what's making us win in those 2 segments, which we talked about. On the provider side, our core differentiation or capability, which we acquired through HCI was implementing electronic health record, electronic medical records in the U.S. It was largely a business focused on the build part of the value chain for hospitals where we are helping them adopt the electronic records system, which was funded by the federal government in the U.S., if you are familiar with what the market was. Now that's -- that is something which gives us a lot of access to a number of Tier 1 health care providers in the U.S. Where we've done work with them, we'll help them go electronic. Now what's happened over the last couple of years is we've been able to combine other capabilities, things like document management, voice-based AI solutions, digital health platforms, as they now start looking at the next level. At the same time, what we've done is we've built on our core electronic health records capability, build offshore capability, build nearshore capability where we can't offer because of regulatory reasons, which is now giving us scale. In the first go, when we won large deals, we've won -- we had synergy going there in that segment, it was largely around horizontal capabilities. So we would go and help them modernize their infrastructure, maybe move them to the cloud, do a lot of remote stuff there. But now I think we are at the next level. The last deal we won, I spoke briefly about it earlier, is where we are taking charge for the entire clinical systems for hospitals. And this is fairly large, these are top 5 hospital system in the U.S. We own all their clinical systems, from support, development, modernization, everything else. And this is -- it has 50,000 caregivers. So this is a really large health care system, which is able to trust us with our capability to deliver an end-to-end service for them. The other thing, which we have leveraged -- again, I touched upon it briefly, it was HealthNxt. We've taken that knowledge, understanding of the hospital systems, their challenges, their transformation needs to build in a very efficient way a platform for them to consume, to offer services for their patients and caregivers. There were a couple of questions earlier on what are we doing there. I mean these are, as I said, relatively small investments. We are incubating these platforms. But what it does do for us is 2 things. It dealings our revenue model from a people-only stuff to a transaction model. And as the adoption grows, we expect to get paid on per patient consulted or per patient remote monitoring solution. And secondly, and I think it positions us as a thought leader in our customer base. The other very unique thing about the segment is this is probably the first time -- and for people who are familiar with the U.S. health care system, it's a largely first-time outsourcing segment. It's a segment, which has never outsourced at scale. So it's a fairly lucrative segment from that perspective for us. And secondly, I think they've never been under enormous pressure from a cost and improvement perspective. Hospitals are functioned in the same way for many, many years. It's a complex ecosystem. And that makes the market very attractive for us to be able to find growth. And apart from all the partnerships, the good news is I think we are winning a number of large deals, and I expect that to be our trajectory. With first-time clients, first-time outsourcer, we are able to take them on a journey but keep the main knowledge. And that's awesome for us. Then when I look at the other segment, pharma life sciences, again, as a high-growth secular market, I mean, the spend levels in the industry are high. We've all heard about supply chain challenges. We went and invested in our digital supply chain a company called Perigord earlier in the year, which gives us a very unique capability to help large pharma companies manage their supply chains in an efficient way. It's a Platform-as-a-Service offering. We not only do BPO work, but there is a glance of the platform, which was developed in Perigord before we acquired it, which helps the pharma companies manage their entire packaging distribution supply chain as an end-to-end process and then provide BPO on top of it as an option to clients. The other area, which we are seeing significant traction, is the whole manufacturing 4.0. And that's in Nilesh's helping the pharma team to say that can we build capabilities around -- learn from the other wider manufacturing industry and build capability around it. And there would be things like SAP, which dominates the pharma life sciences ecosystem. There are a lot of transformation happening there to S/4HANA. Those are the kind of opportunities, which are giving us growth, which are giving us -- what is giving us growth in that segment is things like regulatory pressures, which are changing the business, which are changing -- which are either leading to mergers or -- the big trend right now is large pharma companies splitting to smaller, more nimble areas. So I think that creates an opportunity for itself. And the approach we've taken is in the short term and the medium term is that we will go after significant large relationships instead of trying to spread assets in. So get a small group of unique capabilities where we are not competing as a me-too with our peer group and concentrate on a small group of clients to get deep and get some scale in those areas. So that was a quick snapshot. Happy to take questions when we are in the question-and-answer session. And thank you.

Thanks, Jagdish, Nilesh, Gautam and Vivek. That was really insightful session. Moving on to the next one, we have The Cloud Way Forward, and I would like to invite Suri Chawla.

Good afternoon, everyone. How are you? I think this is the time everybody switches their phone and checking very quickly, right? It's the most boring part of the day. So give me 20 minutes. I've flown almost 24 hours to be here with you. So give me 20 minutes of attention, and appreciate it. Thank you. As Suri -- sorry, our C.P. many times pointed to me that the disadvantage of sitting in the front row, every time he looks at you, he kind of points at you. So hopefully, my name -- I don't know if everybody knows my name. My name is Suri Chawla. I came in very recently to the acquisition, acquired DigitalOnUs, 6 months into it. One thing I want to tell you as an entrepreneur, entrepreneurs have a very big ego, right? They have a very strong self-belief, right? And my belief is next time when you guys come in, right, you had this 4 different boxes, the endowment and the bets, I think there's the only one circle called cloud that you're going to see. Because everything in the cloud -- everything is moving to cloud, and we firmly believe that things are going to move. Now the other part is, I don't know how many people are flying, right? If you're flying, probably if you cross 10,000 feet, you're also in the cloud, right? So everything in the cloud, eventually. Coming to the discussion today. I structured the slide -- into few slides, one, of course, is going to give you where the client's -- client journeys are, right? It's very important to map, not talk about what we are, where the clients are going, right? Where the client is headed, right? And having started this journey almost 6 years ago, right, what we've done is learning from technology-first companies, right? These are companies who adopted cloud 6 years ago. A lot of learning that happened 6 years ago. Now the bell curve has moved, right? The enterprise world is now adopting the same technologies. The reason we came together and take them as an ecosystem with a larger canvas, the impact of the learning that we had for the last 6 years with the power of TechM ecosystem, like the resources, the talent, the kind of customers they have, the kind of inroads they made in the ICS and cloud. Now we can really constantly take the step forward. There's no need -- look, there's no need for us to catch up, right? The cloud is moving so quickly, I think you need to guide them the next wave. And the next wave, I think I'm very confident if it's coming, it's coming very shortly. And we have the experience. We have the knowledge. We have the power of TechM behind us. We have the right technology, we have the right IP to take it to the next step. With that, let me just kind of take on next slide, if I can. This is always a challenge. So I don't know where to point. There you go. Thank you. So this is the first slide. Thank you. So these are the words they're going to use -- a lot of the hyperscalers, a lot of people use these journeys. They call Horizon 1, Horizon 2, Horizon 3. This is the word you're going to hear a lot, right? And the secondary word, which is a correlation. Some people call Horizon 1 as brownfield. They call Horizon 2 a blue field. They call Horizon 3 a greenfield. What basically means if the customer is on a different journey, when the customers start off on the cloud journey, they said, hey, let's move everything to cloud, right? Move it, move it, move it. And they realize the cloud, the benefits are not very relevant, right? They're not getting -- the cloud is costing more than the things are on-prem, right? That it's not optimizing. That all circle kind of goes into the Horizon 1. The smarter ones, right, we have one customer, a very large growth exchange we're working with, they actually created a group of digital. So they had the old technology group where bulk of the spends will happen. They created another group called digital, which basically looks after building application, which are cloud native. That's the word, I think, you need to understand. It's an application, which is born in the cloud. It's meant to be in the cloud. It is not a lifting ship. It's going to give you the outcome. That means you can change. When the business requirement changes, you can change in a matter of days and hours and not take months to change. That's the power of those cloud-native applications. You would have heard this kind of micro services, that's a new architecture where you build software in the small pieces of core and the orchestrate and you put everything together. The other 2 realities that you have to really understand where the market is heading, no -- not one single customer today has got a better one cloud. There'll be all at least 2 cloud. There'll be one primary cloud, one second cloud. The second reality is not everything will move to cloud, right? At least not for the time being, for a foreseeable future. There'll be all a lot of stuff, which is data-sensitive. They'll be very protective. They'll never put it in the cloud. They remain on-prem. It could be some of the mainframe apps, which will take some long time. So the 2 realities here to understand, every client will be multicloud. That's a word from more than one cloud. And every client will be hybrid cloud. That means not everything will move to cloud. With me so far? Okay. So these are some of the stats that I gave. I think these are all relevant stats. This all came out for the TechM survey, right? Now almost, what, 2/3 of the product always got -- people don't even understand what are the dependencies of application. If I change one app, how does it impact the other one, right? In the micro services, that's a very powerful thing to understand when anybody construct application. Second thing you've got to understand is not the cloud agnostic self. To me, if somebody said, you know what, I got, let's say, hypothetically, there's one, as I said, I got 15,000 or 20,000 certified people, that's AWS. Question is, when you certified an AWS, right, the tools and technologies that you use are AWS-centric, right? That means if you want to deploy the same application in Azure tomorrow, guess what, you have to rewrite all the code. That's not saying understanding the dimension of my hybrid multicloud is very important because the tools and technology, the way you build applications, which are cloud-agnostic, you have to use a different set of tools, right? So those 20,000 certifications have some meaning but not a whole lot of meaning because things have moved on, right? You have to look at what are the next wave? Where are people moving? What -- how should I build application, which is cloud-agnostic? How do I build applications, which are hybrid, I can access on-prem as well as the on cloud application, right? So those parts you have to really understand the power. So let me go to the next slide. So one thing we have to understand is TechM by itself, right, you can always go to your client. But to build a brand, to build a presence analysts also have to have to echo , they also had to believe in your story. They also, you know what, the story that you're telling is good. I think you stand a good chance. So we have to spend a lot of time, a lot of energy in educating the analysts. And guess what, we are spending a lot of time educating our analysts. We said, hey, these are the kind of stuff we've done in the past. These are the kind of IP we have. This is what makes us different. And guess what, these analysts are noticing. The Gartners are one of the harder ones. They actually now started talking to us. They said, "You know what, I think your story mentions -- what's a mention, I think I'm going to look at." So this is an ongoing journey. We do a lot of proactive pitches to the analyst community with the intention of telling your TechM story and cloud. Secondly, we also -- hyperscaler, I think everybody talked about. These are the -- they are the guards, right on cloud, right? They are the people who own the market, right? A lot of people are writing $1 billion checks where they get to pick the SI. So if you don't sell TechM to the hyperscaler ecosystem, you're again going to lose up, right, because a lot of decision-making will happen in jointly with the hyperscalers. So spending an [indiscernible] amount of time in educating hyperscaler, building solution, I know [indiscernible] was there, building the solution that goes deep and making it a GCP-centric or AWS-centric is the way to go. Not 30-40 solution, pick 3 or 4, and we go really, really, really deep. That is how you get noticed with this hyperscaler, and that's what we need to do, and that's what we're doing, right? And just to let you know, we made a lot of progress. We already are GCP premium partnership very recently. AWS already getting noticed. We have one of the premium partners. I'm going to talk one, of course, Microsoft, all 3, we have getting a lot of visibility. But this part, HashiCorp. I don't know if anybody heard of HashiCorp, you raise a hand if you know that company is, right? I didn't expect any. You know why? This company is only 5 years old, right? Last money they raise was about $8 billion valuation. It's like a 5-year-old company. Their tool sets are de facto standard that everybody who is on a hybrid multi-cloud journey uses the tool called Terraform, which lets you provision, configures from any of the hyperscaler, doesn't matter, see, write one code. So I'll give you an example of AWS. There's no point, 35 years of AWS alone because the tool set that you need to use for hybrid multi-cloud is product called Terraform. And even Google says, that's the product I recommend. That's a cool thing to use. Similarly, if you want to secure an application, you want to make sure who's the application user, right? Is this a proper user to access the cloud or not, they have a product I want, right? So use that product to authenticate. Then after that, you can access any application in any cloud, right? And if you have an opportunity to invest on a company, I've got, of course, if you look at it seriously, the company should track at least -- if you're tracking cloud journey from your ecosystem, do try the company. They are almost in every Fortune 500 customer, right? And the founders, just to let you know, none of them are even turned 30. They're below 30 years old for the founders, and they understand where the market is headed. So please watch out. I just -- I want to highlight that partnership because we are the strongest. We are the award winning partner of HashiCorp 2 years in a row. We have the highest number of certified people in HashiCorp, and that's the tool of the future. So when they say, TechM, take a stand because we are the only hyper-specialized partner, much about any of the Indian side. We're the only one in the cloud bracket in that hyperspecialized. And that's a company to watch out for. Now the other thing that you have to do a lot of people, when you look at client journey, client doesn't care, right, if you're selling lift and ship or you're building cloud-native applications or you're selling security in the cloud, you sit in data on cloud. They say, no, that's not my problem, right? I want you guys to look at where I am and tell me what the solution is and don't bring 10 different teams to talk to me, right? I'm maybe doing lift and ship today, but I may be building some application in parallel, which is cloud-native. And guess what, when I'm building an application cloud-native, security has to be built in. Security cannot be a separate practice, right? Data, how can you not have data in cloud journey? Data and cloud is a very critical part for any cloud journey. So whether it's a lift and ship, the Horizon 1, whether it's cloud-native engineering, whether it's security in the cloud, whether it's data on the cloud, SAP in the cloud, doesn't really matter. We cater one common theme, one market-making unit, which is talking to clients end-to-end. And we created a one presales team, which is end to end. And this is something, when I brought it up -- in fact, we recently hired some people from larger size. And it says, Suri, what you've been able to see the change in TechM. The other companies having challenges. There are a lot of hurdles , a lot of political fights. The infrastructure and the cloud team are not talking to each other. The fact that he brought this team together is a miracle, right? It's a journey a lot of people have to take. They have no choice. But the fact that you've taken a journey is a strong point, okay? So we do, of course, end-to-end. I'll just highlight one more point here. So I think you heard Dilip came in early talk about Born, right? And he said how's Born connect to the cloud, Suri? It is. If you look at the data, right, if you look at cloud, cloud is -- there are 3 things. Cloud is nothing but an enabler, right? And if you look at data, data is considered a driver. What differentiates yourself is AI. So these 3 things you have to understand. Cloud is an enabler, right? Your data is a driver, and the differentiation comes from AI. If you look at that, this layer, it's something that you have to track because once you have the data, once they're able to analyze, when you go to cloud-native journey, the CX, the customer experience part is a starting point for every cloud journey, right? The stuff that you learn needs to feed you to the seller framework that Dilip has created at Born. And that's how we connected the dots. We look at end-to-end. So looking at data. We look at AI, looking at SaaS, SAPs of the world into cloud, looking at connecting the dots with AI because Born is a very strong story, and that makes our end-to-end story on cloud very powerful. Okay? So just to let you know that we just started talking. There's a lot of IP behind. We created a lot of IP over a period of time. This is a journey that we've been having for the last 6 years. And I think I'm just going to talk about 3 different solutions, right? I think if you walk the halls during lunch, there was a session that was on the netOps.ai. That's a very powerful solution on the 5G telecom that we're marketing. And there's another journey a lot of people taking zero-trust. Because when you put stuff on the cloud, security becomes very key, right? Security has become very key, people want to get into what you call 0 trust. That means your system should be so fail-proof that you should think of every possible thing that can go wrong and you plug those holes. It's like a 3- or 4- or 5-year journey, a lot of enterprise customers and a lot of dollars ready to be had on those. Okay? Next slide. Some of the stories I said -- I'll put 3 stories. So one customer, as I said, we took SAP on AWS. This is -- we took end-to-end, TechM on cloud, right? Second story is about we did a utility base pricing or in a per price outcome-based pricing. This is the second story. And the third story that we put on is where we actually did an end-to-end story. So we actually went to AWS. We went to the client and said, we will provide you the AWS consumption. We'll provide you the software end to end. So this is the 3 different examples of large transformational journey that we did in cloud for customers. So one, like I said, one is the putting SAP in cloud altogether. Second is basically doing a cloud thought first journey based on outcome-based pricing. And third is basically the consumption and services together. Now this is the one thing we understand. So TechM, I think you have heard this 5G. You probably heard that maybe a week conversation, 5G, 5G, 5G, telecom, right? We are the strongest in telecom. Where we connect the dots -- I don't know if anybody heard edge computing as a word. If you -- just raise the hand or tell me what to do, okay? So edge computing is basically the next wave in our mind where a lot of the dollar spend will come in cloud. So edge computing with people who do not understand basically needs wherever you have those devices, it doesn't matter if it's a smart city or a parking meter, autonomous vehicle. If you have those devices, you're creating data in the cloud, IoT devices. What edge computing does is make sure that computing happens, add these source where the data is. So did a lot of the compute there, that's what edge computing is. So that is -- you don't send a lot of data back and forth between cloud and the device. There are 2 reasons why to do it. One, of course, it slows down tremendously. Secondly, right, there's also -- a lot of the action happening with the response time, of course, the response was higher. But the related issue that comes with it is see, what you call is security, right? Not all the money will be spent because the hackers are not going to look at those IoT devices, how do I hack the device and get the data out of those? So there's a big spend happening on building edge computing, which is later 5G. And there's a big spend coming on the security is -- pretty security around those. So that's one big bet we're doing. We already have a very strong 5G story and it goes [indiscernible]. Okay? These are some of the other examples, our industry 4.0, a lot of people have talked about. In the interest of time, I'm not going to repeat this. First let you give you maybe 5 second maybe before I move to the next slide. So this is something the German government started the 4.0. It kind of blurs the line between different devices we're selling, whether it's medical and how do you kind of make sense of the data on the devices. That's the industry 4.0. Okay. So this is my last slide. I'm looking at the clock also. So I'm going to spend a little time 2, 3 minutes to go. So there's 3 -- 6 things basically I want to summarize on, right? What makes us different, right? The first I want to tell this is the critical part, right, putting one cloud team together. That means one sales unit, one presales unit who tells a story as one team, not a silo team. It's something which a lot of companies are struggling. We already made that happen in Americas. We're rolling out in the other parts of the TechM, right? And we're already integrating the presales team, right, around it. We're leveraging to the hill. So that's the one key part, which makes us unique. Second, we have created a dedicated practice or IBUs, independent business unit, in TechM terms, which is focused solely on making sure that our flag is flying high in the respective hyperscalers. It is too solutioning. It is to give the visibility on our accounts, right? It's building -- basically doing a go-to-market, building deals back and forth for each other, right? It's solely -- their success is solely focused on the hyperscaler IBU, right? So that's the second thing we made a big bet on. Third, of course, I just talked about the edge computing, right? We've got to take our standard 5G, right? We've got to build this edge solution. Coming up, next wave, we'll be ready much faster than anybody else, right? We're going to do that. The other part, which is very thing, you can understand -- so I know somebody said Mexico. Of course, we took a lot of advantage in Mexico. That's how we -- a lot of the customer gain some of the big fight last year in 2020 because we are able to give them a low-cost option -- nearshore option, right? The U.S., right? Because a lot of the apps need to be at the same time zone, right? And for the same time zone, when the release is coming up, you cannot have a team sitting in India for those kind of apps. So one option is you would hire those very expensive resources, right, in the source country itself or you build a nearshore center like you built from Mexico, I think you need to look at East Europe as a backup option for Europe, right? I think that's the reality we embraced. We're going to do that. And the reason, I guess, there are a lot of confidence is because in Mexico, when we hired people in cloud experts, they are still only do BPO work on nearshore. We are the only ones who actually doubled up and created a very strong cloud engineering team in those locations. Fifth one is, of course, the XDS pillar. I talked about how do we collect the dots on the customer experience with deep [indiscernible]. And last but not the least is I think [indiscernible] And everybody talked about, we are cross-leveraging a lot of the talent training across, right? A lot of the learnings that TechM has done, a lot of initial school on training talent because lateral hire is going to be a big, big challenge for a lot of people. So we're leveraging that to build a cloud finishing school here. We'll have -- replicating that in the other nearshore center so that you can scale because scaling is something which will hamper the growth, not only for us, almost every IT company, and you probably heard it now. Now we got 23 seconds to go. Okay. I'll probably [indiscernible]. Thank you.

Thank you, Suri. That was really an interesting session. The next one is Engineering.Now, which will be covered by Sanyasi Rao.

Hi, this is Sanyasi Rao Upadhyayula. I'm The CTO for Integrated Engineering Solutions. In short, it's IES. And you heard this morning, our CEO were talking about the 4 key service lines, which are $1 million bets going forward. And IES is one among them. What we do as part of this IES, basically, is we actually create products and technologies for our customers, right? And our customers, in turn, take them to the market to the end customers. That's the value chain that we are part of. While we call ourselves integrated engineering solutions, what really -- to make it very simple, what we do is we actually deliver the ER&D services for multiple industry verticals, be it automotive, aerospace, telecom, health tech, high tech and some more, right? But then instead calling these the R&D services, we call them as -- we call ourselves as IES only for the simple reason, to -- as a reflection of the services we delivered both on the traditional engineering or classical engineering services we deliver under the integrated engineering services all under one group. Hence, we call ourselves IES, right? So that's the background to IES and the vision where we want to go. Now IES is not something new. We have been doing the ER&D services for the industry verticals for over 25 years now, right? And 25 years is a long time, right? And with time, we have evolved with respect to delivering entry in services, delivering mature solutions. And more importantly, we are also adding or creating more value to our customers. Let me give you some examples on the kind of projects that we have delivered and then which are indicators of the projects that we are going to deliver going forward. For example, take -- let me take this example of an automotive -- European automotive manufacturers, right? We've been working with them for about than a decade now, started engaging with them in engineering, the active passes , the brake, the steering and the drivetrain. It went on for a lot of time, right? Then we scaled. We gained experience. We gained capabilities. And today, as we speak, we actually have delivered complete vehicle integration for an SUV that is launched in India and APAC markets earlier this year. That's the complete ownership that we have taken and has successfully delivered. Now coming to the value point of view, if you look at it, right, in the case of an aerospace, let's take the example of the customer that we are working with, North American customers. Again, we started with designing their central [indiscernible] completely delivered, took the ownership, but that itself is a very complex project to be done outside of the one team that they have, right? Now -- but then this is for a commercial aircraft. And a commercial aircraft is a complex machine, if I were to call it is, right, lack of a better word, because it has got, what, about 1 million components tied together by maybe more than 4 million nuts. And more importantly, it is flying 30,000 feet above the ground. Now what is important here is how do you ensure that the aircraft systems are monitored so that the 50 of the passengers are taken care of. This is where we actually independently delivered -- developed and delivered the aircraft health monitoring system, built ground up, which is, as we speak today, about 200 aircrafts are actively managed with the platform that we have developed. So that is kind of the scale and the value that we are creating for the customers that we are engaged with. Those are the existing customers. But that is not the end of the story. We are expanding. We're adding capabilities. And we are creating solutions not on the domains that we are at home or comfortable. But then we are creating solutions today even for something like a smartphone, right, 5G smartphone. 5G, as you know, is all big thing in telecom. And what we have done is work with a, again, a device manufacturer in Europe and completely engineered a 5G smartphone device, taking responsibility right from conceptualization to the build and operate. Now when we say that it's a smartphone, what is there to operate? The user will operate. When I say operate, it's more in the context of the security updates you get and the android updates that you get for a period of time, right? So we took ownership and we're delivering and training solution from this. Now again, as we've -- when I talked about -- big about the complex aircraft system that I talked about, right, 5G device, for example, is an equally complex device but in a different dimension. I just want to bring to you -- I just want to call it out, right? Because what you expect from a 5G smartphone device is that you would want to work like a desktop, deliver gigabits of speed on one side. And then you also expect that the battery will last forever, right? And more important -- and that's expectation from the users, right? The other side is that unlike any other device that you engineer, smartphone comes with this unique challenge is that when you -- your conceptualization of the smartphone happens with the delivery time line and the budget fix. That's how it happens, right? You can't move the launch of a device even by a day, not acceptable. Similarly, you can't beat the price, the expected price in the market. So that comes with unique challenges. And I want to tell you that we have delivered, not one -- we actually have delivered 5 such devices to our customers. Now -- and that is on the part of telecoms. Imagine, extend it to any other vertical. So for example, talk about electric vehicle. Again, you know that EV is the next big thing in automotive. As we -- again, we are working with the Japanese manufacturer, developing for them urban electric vehicles. What are we doing there? We actually take the ownership from striving all the way up to production, right? So we do ship to cloud, whatever call it, ship to cloud, style to operate, titled production is what we are delivering on a technology, which is new, which is unique. So to reiterate, we do -- we have solutions we are delivering for the existing customer, existing technologies. And then we are now build out for the technologies as well. Now where -- if you ask me how are we able to deliver such large and complex models, as I said, we've been doing this for about 20 years now. And we have domain experience for multiple verticals, leveraging the best practices, cost leveraging the best practice from one from the other. And more importantly, if you don't innovate engineering, you don't give, right? That's the challenge. And that's what we do at best. The one thing that I want to call out is that we have got about 250 patents in the engineering space, some created by -- on our own, some we have co-created with the customers that we are working with. And our engineering products are well recognized by the analysts we have -- we are rated as leaders in the ER&D services that we provide across all the verticals that we operate. That's one. The other thing is that we also are recognized as a leader for the depth of capabilities that we bring to the table. For example, we are the leader in 5G engineering, and we are also a leader in software for the development. That is what will ease the heritage that we have that we would want to capitalize. Now what we have is what we have. What are we going to do? Where do we want to go? This is where -- what we are trying to do or what we have been doing is to align the experiences that we have with the industry strengths. That is to most -- to make most of the massive opportunities that we see in 3 main verticals, automotive, industrial and telecom. Now why only these 3? Because the other 3 verticals that are most impacted at least by the way that we see with the technologies that are coming in. Take the case of automotive, for example, right? What is driving automotive today is space, right? There's personalization, autonomous, connection, electrification, 4 technologies, right? Now connection, it is -- I'll be surprised if there is any vehicle that is coming out which doesn't have a connect feature, but the question is about how many such connected features that each vehicle will bring? Autonomous, billions of dollars are being spent, and we actually have seen at least in Indian market, early adoption of L1 and L2 safety applications, ADAS what we call it as. But then there is a lot more to come with respect to autonomous driving itself, right? Now think about connected features, think about the autonomous driving that it supports, the car is no more a car, but it is a platform, which is a software platform. Reason? You will be able to deliver new experiences to the customer, but it also comes with a lot of challenges. Everything that you think about as software, how do you upgrade it? What happens if something goes wrong? How do you do upgrades? What if there is no connectivity? There are 300 problems to solve. That's the opportunity that we are seeing that we will be able to address going forward. Manufacturing. Again, the industry is looking at smart factories, again, driven by 3 or 4 major technologies, right? IoT, again, for condition-based monitoring, how do I avoid the downtime. Then it is also is all about how do we automate my operations. How to use computer vision for automating the inspection, is another way of looking at it. Or it's simply that how do we optimize my operations by using automated vehicles. There are a list of things. People really are spending dollars. I just want to tell you that these use cases can be implemented in 5G or WiFi 6 in the different technological question. But there is a need and people are ready to spend dollars in transforming their existing factories to smart factories. The other vertical is telecom, again, is undergoing massive disruption, 5G as a technology. He is driving in one part. And then Suri and I was talking to some of you guys is the open RAN itself is shaking the way that the equipment is built for a period of time, right? And the third one is obviously is that anything that is there in the central office, you move into cloud. These 3 technologies, again, are our levers for growth. And while I say that the other technologies that we are focusing, and there is a lot of opportunity, what are we doing to make good of the opportunities that we come across, right? We are doing 2 things. One, any new technology will take time, right? It requires an ecosystem to be built. It requires technologies to mature, and more importantly, it requires we, as Tech Mahindra, and the customers themselves have to know how best to use the technology, whether it meets the requirements. Towards that goal, what we are doing is we are investing in creating what we call the ecosystem labs or integration labs. Just to tell you, we announced setting up of O-RAN integration lab partnering with a leadership tech vendor. The idea is to bring together the disaggregated RAN components and create an engine solution. This lab is in works. And then will be operational by mid of December. Similar way, we actually have upgraded our device certification labs in Seattle and Fremont to be ready to test and certify 5G devices. That's the kind of investments we are making to make sure that the ecosystem evolves. What is our interest is to make sure that the technology matures fastly and adopts -- gets adopted faster. That's where we make our dollars, right? The other thing is that -- the other point that we are focusing is on the ITSM solutions, right? In engineering, what we bring to the table, we create innovation that we create with respect to IPs and the end-to-end solutions that we create to address a customer's need at point, right? So towards that end, what we have done is that we created -- for example, we created the Factory of the Future lab in Bangalore, only focused on creating solutions for factory automation. That itself is one of the growth area that we have identified. Similarly, we recently have announced and set up a lab, the AI/ML lab in Shanghai, again, focused on creating use cases for autonomous ride. Again, aligned to the technology vertical that we said that we are going to focus. Then as I said, we are opening up the 5G device lab and the certification labs. The -- while we're talking about solutions now, the last one I want to touch upon is the IPs that we are creating. Again, I said the intellect of engineering lies in the IP that we create. So we now have a book of IPs that we have created to be -- at least in the 5G, I can tell you the number, it's about 80 IPs that are in flight. We have them completed, again, addressing the engineering requirements on the device side, on the network side and in the 5G application side. So that, we believe, is that the IPs, the solutions and the focus that we have in the verticals is what would be taking us to the next billion dollar growth. Having said that, while we have the technology, we got the domain, what actually we are trying to deliver on the ground to our customers, right? Our definition, what we want to aspire for, is to deliver complete life cycle services, starting from the design. We continue to deliver what we are delivering best over the years with the classical engineering or traditional engineering. And we also want to deliver products, integrating digital technologies. So design, classical engineering and the retail engineering are the 3 operating levers for the kind of services that we want to we want to deliver. Now when I say design, design is multiple things, right? Design could be a mechanical design. Design could be a chipset design. Design could be PCB, right, whatever, right? So our -- so we have, in fact, to tell you that we actually have a complete set of offering, any kind of design that is required from engineering, both physical electronics and software. And then on the traditional side, we continue to do [indiscernible] software, that's what bread and butter that we are doing over the years. Software product engineering, you heard -- I showed you that we are rated the leader in software product engineering. And then we complete the PLM supply chain and the manufacturing engineering is what we bring to the table. And not -- the last but not the least, is the retail engineering. What we do is to build products which are, again, aligned with what we talked about smart factories, for example, to integrate the AI/ML technologies and the RVRs into the products that we build. Now all these solutions, MPL solutions requiring newer technologies would not happen out of blue, right? Because the customer is new, so they would look for -- it requires us to work with the customer to understand what their pain points are, would there be -- whether their problems can be solved with the technologies that we can bring to table, and then define a road map together. So that takes us to a next level of services that we offer, which is consulting. Just to tell you that the largest appliance manufacturers, we have got [ confirmation from ] factories. When they undertook the journey of smartifying their factories, we worked with them in the road map, created a 5-year road map to say that how to prioritize the modernization of the plants. And it's a journey. It's not a onetime effort. We keep doing it. So that's the portfolio of offerings. Now if you really look at it, what we try to establish, what we are delivering today is what we call it as chip to cloud, right? Anything to do with [indiscernible], your chip design or evolved design; two, an engineering that is required for your applications, either on-prem or in the cloud, is what we deliver. That's the complete, comprehensive set of services that we bring to the table. And what we do, we have technologies, we have tools, we have services. What we finally want to offer to customers. We want to offer 3 things to the customer. One, we would want to continue supporting their existing service product, providing legacy engineering services. Two, we would want to develop next-generation products, digital products. Three, we would help the customers to migrate some of these existing products by retrofitting them with the newer technologies. So we -- so these are 3 key solution offerings is what would take us to the billion dollar dream. That brings to the last slide that I wanted to present. Thanks for your time and patience hearing. Thank you.

Thank you, Sanyasi. Now moving on to the last but definitely not the least session for the day. CME. Next, which will be covered by Manish Vyas.

So no, I'm not Manish-2.0, not the meta version of him as well. I got the bad side of the bargain, actually, with Manish. He is going to do the easier ones and immerse you into the strategy and the execution discussion, while I've got the very difficult slides clearly to do, which is the -- which is letting you know about the performance from a CME vertical perspective. Okay. On a very serious note, right, I think I'm very proud as well as humbled when I look at these numbers and what the team together has been able to deliver. We made promises to you guys on 3 fronts: one, that we will deliver industry-leading growth; two, we will deliver growth from a digital transformation perspective and the 5G, of course, I don't have to say it. I think looking at the numbers there, each one of you should feel proud about the way this vertical has been delivered definitely. I mean look at the quarter-on-quarter growth number, 6.7%, 16% year-on-year growth. But I would take you to that number on the right, right, 17%. One of the initiatives that we started was the CEO account initiatives, where CP himself, along with his leadership team decided to invest their personal time into grooming and challenging accounts from a growth perspective. 17% growth in those CME accounts. I think that's really an incredible thing that has helped us from an overall growth perspective. We said we will lead our growth with digitizing the telcos. That's the term that we always use, right? That's what we've been able to do by closing $700 million worth of contracts across the globe with various telcos. Double-clicking on that, it's not just closing of contracts. We've delivered it across the spectrum that we are really talking about. Our Digital BSS is growing at 25% from a business perspective. And the Wave 2 technologies: cloud, AI, data and analytics, that's growing at 20%. So we're covering the spectrum from a digital growth perspective. And finally, 5G, I think many of you must have already heard Manish on the last quarterly results call. He said that we've reached a $500 million from a run rate perspective in Q2. Again, taking a look at it, what does that really mean for CME as a vertical? 20% of our revenue now comes from 5G. 50% of our network services revenue is 5G. I think each one of you can take a snap of this slide and say at least we've had a brilliant performance, very strong performance from a vertical perspective for your company. Having a strong performance is important, but getting recognized for the performance as well as for the thought leadership is equally important. I know Suri said Gartner is very difficult. Three times in the leaders quadrant shows that there is thought leadership with the domain that we have and goes to show that this vertical is unstoppable now from here. I just want to spend 2 minutes on 3 things over here, 3 case studies really. It's easy to say we've got the numbers. How do we see that this is repeatable and will continue to happen. And that's through these case studies that I want to talk to you about. First one, one of the largest telcos across the globe, one of the largest Tier 1 telcos across the globe, we are its digital partner 360 degrees. 360 degrees because we are working with them from a cloud adoption program: migration, application, modernization, all of it. We are working with them on network simplification program. We are working with them on the customer experience program. With all of these, what do we do? The kind of data that we synergize and we put together, we are able to help the telco digitize and monetize that data. That's really what we are trying to do with that telco from a 360-degree partnership perspective. The next one is where we are doing a very disruptive self-funded transformation in one of our European telcos, in the OSS and BSS space core telco domain that we are really working on. And it's not about whether we are doing cloud, it's not about what we are going to do from the transformation perspective or from the self-funding perspective, the important part is we are going to change the way the end customer interacts with that telco and 40 million of those end customers are going to see that change really happen. The experience of the end customer is going to be completely transformed, and that's what we are really working on. Finally, I couldn't leave without what we've done in 5G, right? One of the mining giants in South Africa, we've been able to implement a private network there -- not implementing, just implementing the private network, but the complete fleet management of that mining industry really happens through that 5G network. Plus, we are also working on remote monitoring as well as we are working on the semi-autonomous or the autonomous operations. So really, I was -- I took these slides from Manish and said at one point in time while we've presented strategy, I would love to stand and present that we've been -- what we've been able to do from a strength perspective to deliver. And thanks, Manish, for the opportunity. Thanks all for the opportunity. But over to you, Manish, to immerse us into the strategy part.

I mean Dhanashree and I always fight. We always have divergence of views. She thought she did the more difficult slides, but she basically came and said, we delivered, let's applaud. And I must admit that she deserves to come and present, along with many other superstar rockstars that we happen to be blessed within this company and your company. She is one of them. Satish is here. We have leaders like Sachin Saraf here in this room. We, of course, have many other people across the world, whether it is Abishek, whether it is Rahul, the other Rahul, Manish Mangal, Sandeep Parke, [indiscernible], Rohit [indiscernible], Ketan Panchal, all these guys have combined together and have delivered those results. That said, my job is not to tell you, and I'm sure the big question all of you have is what next. First and foremost, the confidence in the core of the telco is back. 2 years ago, standing here, I think we discussed a word called convergence, media and telcos convergence. You saw this big mega box, big box acquisitions, particularly in the U.S. domain. You also saw some activity in European context as well. This year, maybe COVID had something to do with, people got a chance to sit back, go back to the drawing boards and recognize the true value creation for telco is staying with the fiber, staying with the broadband, staying with the mobility, investing in the wireless networks, focusing on customer experience, focusing on data to try and harness the value of a network. And they probably realized that maybe the diversification has to be in a different context. I honestly do not know but that this is the last word on that story. At this point, though, the industry has taken a pause. And the pause is, let's focus on the core, and hence, the media and the telco thing for a moment has diverged. It doesn't mean that the media industry is not going to dominate the landscape and does not mean that the telcos are not going to be focused on the media. But from their core business standpoint, this is the story. Our analysis also says, which we have analyzed over the last 12 months that the top 15 telcos, on an average, have also seen a little increase in the market cap of each of -- on an average as an industry of those 15 companies. I honestly attribute it to one thing, and I think Sandeep reminded me something that I actually have been saying it for 20 months. During the pandemic, we started a program, a customer engagement program called Trailblazer Talks, where we used to invite, not used to be -- still invite remarkable leaders in the industry, technologists or business leaders from the telco vertical to come and talk to our leadership. Sometimes it's on a Saturday, sometimes it's on a Monday morning. We always start those sessions by saying thank you to those people. By saying, if not for you, Mr. Telecom, Ms. Telecom, the network providers, we, as a company, would have not done very well. We, as an industry, would have not done very well. Why us? The entire worldwide economy would not have survived, let alone thrive. So if anybody that we want to thank, it is the telcos. It is the network. And I believe because they -- it was not a magic, it was not an accident, it was their investment in their networks that really resulted and their ability to support the worldwide needs of a dynamic nature that certainly happened. CBDs were closed. The entire traffic moved to the homes. Mobility suddenly became so important. Fiber WiFi suddenly became so important. And guess what, it worked. It worked beautifully. We did our last analyst meet so successfully virtually. Many more use cases got delivered. We believe that happened largely because the core investments have continued to remain on the right track, which is to stay focused on the investment. And that, we believe, is something that, at this point, from a medium to long-term standpoint, we are driving our confidence and our commitment to this vertical. That's why CP stood here and said CME will continue to remain a very important, very, very important vertical for our company. Well. We want to come back to more -- closer to now in the timeline standpoint, but let's go a little -- for a minute, allow me this indulgence to go a little bit further out. We have seen all these announcements. We have seen Mark Zuckerberg talk about the Metaverse. We have heard Satya talk about Metaverse in that video that they released. By merging and converging -- in this case, there is a convergence of the physical and the digital, you've, of course, seen a very successful, what is called a democratized 5G network called Helium. You're also hearing a lot about the low orbit satellites. There are a couple of those initiatives out in the -- on the playground. We're also talking about, and this is something which we have been saying for a while. Just coming -- just before coming here, I met one of my childhood friends, who is a small time trader in a small town, who basically has been selling air conditioning, some office automation and the stuff. And I asked him, I said, "What are you more busy with?" He said -- I was very surprised and at the same time, very happy to hear what he said. He said, "I am happy connecting sensors in different places. I am doing CCTV cameras, connecting sensors in APMCs." Small town, small district, agriculture producing market communities and he's connecting in small malls. I think it's -- those are basically examples, like somebody asked about digital divide, I think those are examples of what a telco is making it happen, that the sensor tsunami is real. It is not something that we just put it on slides. These billions of devices that people are talking about, we are actually witnessing and leveraging those experiences as we speak. We truly believe, at Tech Mahindra, that a lot of these, a lot of these change and the investment in the distant future is definitely getting instigated by the last 5, 6 years of a lot of conversation, a lot of dialogue, initially hype, now a reality around what the art of the possible that 5G is providing. In terms of 2 things. One, the core tenets of 5G: speed, latency, power, cost, and the whole economic game plan. On the other side, is this very dynamic flexibility that suddenly, because the 5G network is going to be [ inherently ] software, will offer to you. At this point, do not ask me a question on what are we doing in Metaverse. We're doing nothing. All we are doing is, like we have always done, we will listen, we will learn, we will align, and we will keep discussing this, and in many cases, conversations with some of you always helps us in continuing to stay in the future because this vertical has been the flagship vertical for the company for the last 30 years. We want this to remain the flagship vertical for the next 30 years as well. That's why we just keep an eye on the ball on the future, and that's why I'm sharing all of this with you. The other important piece, if not the last, we believe it is the most pivotal piece of the industry 4.0 jigsaw puzzle. You heard Sanyasi earlier -- Sanyasi Rao. You heard Nilesh. You'll keep hearing different verticals. It is very clear that there is immense power in the power of connectivity. Connectivity is clearly going to -- I mean it has already done that this year. Last 18 months, we have seen enormous amount of use cases, very basic, right? Manoj spoke about the mining case. It's not as much about software. It is about creating the power -- giving the power back to a mining company because they can own their own private network. It's a private LTE network. Not a 5G network yet, but that's a matter of time. The message I want to leave here is this, that the industry analysts have always been giving numbers. One number that we are right now reading more, and I'm sure some of you have read the same reports that 5G by 2030 is likely to create a $3.7 trillion worth of economy, of which 5G and 5G-related business, network and devices and software, is going to be about $700-plus billion, of which the 4 dominant verticals which are probably going to take advantage of 5G more than anybody else, are incidentally the 4 verticals that CP said are going to be a $4 billion verticals. All I'm trying to communicate is that the alignment between our vertical strategy, our portfolio strategy from a 5G standpoint, in this case, it's also something that we are noticing, we are liking and will continue to remain very well invested into. I was supposed to click earlier. That said, I'm sure all of you remember, this slide has not changed between 2019, 2020 and today, except one thing, this used to be in -- all these 3 years to be rectangles. I have just put them into circles. Something has to change. We show you that we are progressing. Otherwise, our 5G playbook remains absolutely -- we are very committed to it. We are very loyal to it. It is in 3 things. We spoke about it the first time. In fact, CP was the one who narrated this very beautifully about 2 years ago, where he said 5G for us is an opportunity to drive transformation for all the 3 members of our ecosystem. Our ecosystem, which is CSPs, service providers; the engineering world, which is the ecosystem, that part of the presentation is already done because Sanyasi Rao very so eloquently explained what are we doing with our ecosystem from an R&D standpoint; and the third, which is the enterprise business, which is where we collaborate with Jagdish, collaborate with Vivek, collaborate with CTL, with Nilesh, with Sandeep and several other people who drive digital transformation into the enterprise world. We focus on that. So our 5G playbook is indeed the same. What also remains the same, and some of you asked that question during lunch and even last night, is what we are going to be building and executing this strategy on are our investments in our people, which is our skills, our 5G Academy at different level network, where Sachin Saraf runs from a digital IT standpoint as well as from an enterprise domain expertise standpoint, is something that continue -- and cloud, which is what Suri and Sudhir are focusing on, will continue to remain very, very clear. We believe 5G is a big problem to solve, and you can't solve big problems alone. As a matter of fact, 5G also, and we'll talk about the network aspect in a minute, is going to also bring -- over the next few years, vast majority of the networks are going to be very disaggregated architectures. That basically means, from a supply chain standpoint, it will be more than 1 or 2 or 3 or 5 or 10 vendors. There will be many more. All that means is that somebody will need to stitch those together. To stitch those together, somebody will need to work very closely with these companies that we call as partnerships, and we will remain very focused on that as well. That said, I think our investments in our IP and outside -- I hope some of you got a chance to go and visit netOps.ai and AINoF.NXT, which is our 2 platforms or 2 IPs, one focuses on build, the other focus is on operation, driven by a cloud-native orientation and AI. We will remain -- somebody was asking me earlier that, is building our own IP good for us or bad for us because we are a people company? I think that train left the station sometime back because the customers and our clients expect us to deliver solutions, not service. They expect us to deliver solutions at a speed, not just at a cost point. And they expect us to bring best practices rather than always create a bespoke solution. What gives us that ability is the set of investments that we have done in our IP and our platforms. It's a very well-stated strategy. We were probably not very clear about it 3, 4 years ago. As the years have progressed, as we have won more business, as we have continued to work with our customers, I think we have become more confident and more secure and more determined on that strategy. All right. That said, let's come to the telco part first because this is where bulk of our business is now and will continue to remain for the foreseeable future. We truly believe, and I said it earlier that 5G is that catalyst or that enabler that is going to accelerate, to Danesh's point, the digitization efforts of a telco. And it is not just about network, it is the comprehensive transformation. It is starting right from deploying and modernizing their infra. 2 types of infra, the network infra and the compute infra, which is where someone like Manish Mangal, who heads our network business, and Suri and Sudhir, who head our cloud business, are partners in this beautiful crime to try and dominate and provide and build solutions to help our service providers to take advantage of the glorious opportunities that are software-based, cloud-native, disaggregated, very flexible network assets can be built. How we will do it? I'll talk about that in a minute. Second, digitizing the core underlying enterprise platforms, whether you call them BSS, whether you call them customer management systems, whether you call them the process automation platforms, something that Mao and Sachin Saraf and the entire organization that is led by Satish, they drive this process to bring platforms and solutions to help automate and digitize by use of cloud, data, and of course, the CX part that Dilip spoke about. Third, is really about reinventing and reimagining the core. In the 4G cycle, many people have said, and rightly so, that the telcos while -- built and created this 4G capability, probably we're not able to take advantage from a value chain standpoint. The revenues went to the hyperscalers, revenues went to the OTT players. Revenues went to these app guys, whether it is a ride share company or a hospitality company or what have you. The question that people are asking, will that change in the 5G cycle? Will the telcos be able to snatch that business back? I don't think anybody knows that answer. What I do know is that there is a very intense conversation across the board, across the telcos to think about what is it that they will do. Because remember, when you lose business, based on a platform that you've created, you also learn to understand what your strengths and weaknesses are. And hence, there are some phenomenal conversations, very mature conversations happening with some telcos where they are saying, I know what I don't want to be. Hence, they also are saying, I know what I want to be. And that is about building products and services, for example, to try, in the enterprise world build very specific products around creating these niche networks and private networks for some select industries, I think, is a case in point, clearly, is a revenue opportunity. In the consumer realm, by partnering with some third-party software makers, whether it's a multiplayer gaming kind of a company or autonomous car, I think there is an upside. Or for that matter, using 5G capabilities to drive some kind of a variable experience and then monetizing that variable experience because you can price it now. Thanks to the work that we do with Blue Marble and others, I think, is a possibility. So new product and services is clearly going to be a reinvention opportunity for the telcos. What is triggering that? Of course, like I said, is because 5G presents an opportunity for them. And last but not the least, I think we have said it before, I'll say it again, you heard Dilip in the telco context, my ability, if I'm a telco, to be able to sell more to my consumer or my enterprise customers depends. Besides the fact that I need to have a great network and some great product also on one more thing. I got to change the customer experience behavior between a telco and a consumer or an enterprise. And there is enormous amount of work to be done in that space. We have not even scratched the surface, right? We're still -- I mean, you heard the Stella framework. You heard about multiple channels. E channels operate very independently. The vast tranche of data that sits -- that is trapped beneath the telco, we still have enormous amount of work. One of the case studies that Danesh spoke about was exactly that, where we are very busy bringing out the data from one of the largest telco in the world, putting it on cloud. It's a very technical project, but with a very clear business outcome and which is, once it gets there, we will be able to try and harness it and start integrating it from a customer experience journey standpoint. That's our framework. This is what the industry is telling us. Good news is we relate with this a lot more. This is our playbook. It's always been there. And even better is the fact that to convert this telco into a value flow, or sometimes what I say that CSP, a communication service provider, is a misnomer for the industry. They are truly a platform service provider. They allow and build a platform for other innovators to come and play and offer economic value to their customers. That's what a telco does today really, right? The question is if they can monetize that service, that utility, bingo, I think we're talking about something magical that might happen in this industry over the next 5, 7 years. But right now, let's talk about TechM. We are happy to report that our approach to whether in the infra -- the 4 things that you saw, left to right, which is the infra, the product platform or the business transformation, which is the product transformation for them or the experience transformation. We have a mission. And our mission is really modernize, digitize, monetize and reimagine. That's the framework that we have and how we do it, besides the 70,000 people who work in this vertical, is also from the core IP and the software that we have that we have built, that we leverage. And I've already spoken about some of them. Let's take example of products in the consumer realm. We have probably one of the best assets that the industry has. In the emerging market, you were earlier asking about the transaction-based model or a flexible -- or a more business-oriented commercial model, Comviva has been doing it for years now, right, in the consumer space, in the emerging market. Now what we have done is we have integrated Blue Marble, which is a product that we built organically and with the tiny acquisition. When we put those together, it is now part of the Comviva portfolio. What it does, it allows us to westernize the Comviva product and platform, including the existing products that they have, which are remarkable. And today, with the lines blurring between what is good for an emerging market versus what is good for a developed market, we now have theoretically an opportunity to take our products into any market because now we have teams from a Comviva standpoint that are present everywhere. So this is just a new journey that we have begun, in fact, a few months ago. I'm hoping that over the next 12 months, we'll have many more stories to tell you with the success that we will be able to drive in 2 things: one, digitizing the underlying platforms for a telco; or being part of the revenue cycle of a telco more intensely via some of the products that we have built there. I've already spoken about netOps.ai. Biren came and very nicely spoke about our BPS business. I've already spoken about our 5G for enterprise business. We've already spoken about BORN or NOW. Starting today, we call it XDS. So in a sense, I do feel very comfortable together with the team that we have what it takes to address the 4 needs of the industry from a 5G transformation standpoint. Let's talk about very quickly enterprise. I think in terms of the revenue cycle, this will follow. This is not going to lead because you've got to get the networks in place. There are more networks trialing, more network scaling as we speak, tons of use cases being written, tons of trials that are happening. We ourselves are busy in trials across the board. Besides the mining case study, we are very busy with the automotive industry right now. We're very busy with the media industry from the use case experimentation. We are also talking to the health care industry, including the med tech aspect. So all those discussions are going on. What is important is we understand, and sometimes I do like to say that 5G is not a sprint, it is a marathon. However, it will be run, and I know it doesn't work. A marathon can't be run like a sprint. But because there is so much focus on 5G, we will have to keep running faster, which means it could be a relay race, when we will have to keep handing over the baton to each other, but it is a long-haul game. Enterprise is going to clearly be a long-haul game because many, many factors have to come together, right? The network is just one piece of that. The sensors, the automation, the integration with the software, the economic value, the business problem statement. It's a pretty complex mathematical formula. All of that indeed will happen. We are confident. Early this morning, we were talking to the CEO of a enterprise part of a telco business. He was very, very clear. He said, we believe in the enterprise world, this is like a BlackBerry era. The end of the BlackBerry era where a new era is about to begin, right? And clearly, there will going to -- there's going to be a lot of focus. I don't know a single telco that's investing in 5G is not thinking of enterprise. I also do not know of any single vertical. We already saw the numbers of 712 billion or 3.7 trillion. You pick a number. The fact is there is focus. We are invested. Your company is invested. We are not taking our eyes off this ball. At the right time, when we get a half volley, we will try and hit a 4 or a 6 as things go. And how we are going to do it is USR Sanyasi Rao already spoke about our labs investment, which are across the board in both network and in the use cases. We are also very methodically investing in experts who do not only just understand the industrial vertical domain, but also have a good understanding of the network infrastructure and architecture, and hence, from a 5G standpoint, and we are merging those. I think I can't emphasize any more about our investment in our partnerships. And last but not the least, we always will drive innovation through our platform, service value delivery through our platform. The core -- right from automate to orchestration to deployment, what you saw in the talks that we had for telco, we are modifying that -- a variant of that even for the enterprise life cycle, right? It's our secret sauce. We'll continue to harness it. But we are also leveraging because enterprise 5G is also going to be about data. So we will also take enormous help from our GAIA platform, which is our flagship AI platform that we will use. And you will see the use of AI across the board in every part of our business, right, left and up and down. This probably is my easiest slide because our dear friend and the most intelligent USR just came and spoke at length about our investments in engineering. I will never be able to do justice to his depth of knowledge other than saying that this is, by far, one of the faster areas of growth for our 5G business. This year, I think we are growing almost -- it's still a smaller piece of our overall business, but probably the fastest growing at this point with all 3 parts of the customers: the device makers, the OEMs and the software makers, who are building specific capabilities in this space. It's a very large ecosystem of players who are trying to -- and this is where I was saying about disaggregation. The reason this industry is exciting. The reason why we are excited about 5G is because all these people, hundreds and hundreds and thousands of these companies are attacking the 5G opportunity by building their own products. We have 2 things to do with them: one, offer our R&D skills, our engineering skills, which is world-class. It's been one of the best managed businesses that we have had. [ Rohit Madok ] is now on the team, will run that along with USR. And the second part is many of them -- not all, many of them will also become partners as part of our reference architecture as we deliver value to both telcos and to the enterprises. All right. That's about 5G. And I guess I can stop my presentation here, but I'm sure there is one more question you have. And the question is where do we go from here? '22, '23, '24, '25, financial years, right? Sandeep, I'm sure you would love to. Before you ask, why don't I give you the answer. I think our execution playbook is not going to change, right? We have thought about it long and hard. We have looked at it from different angles. We believe that the -- for many years, we have said or -- we have used different words, but essentially means our diversified, comprehensive, multipillar where we do not look at a telco as one company. We look at them as different organizations that individually need to be served, and yet we need to derive and deliver value by connecting the dots. That's a unique positioning that this -- that your company has. We are not ditching it for anything. Put a gun on my head, I will say no. I will not change that strategy. We will not change that strategy. We feel very good about it. It has delivered the 17% growth in our C club accounts this year. It has delivered those numbers that Dhanashree spoke about earlier. However, we have a -- now the question is, how are we investing? We can't be investing in everywhere similarly. I think we are clearly looking at the CapEx and the OpEx models that the telcos will have. And based on that, we have built a model. These numbers will change slightly as they go. However, we are building a plan. And as we build the plan, we believe the effort around digital in helping the service providers to continue to take advantage of data, cloud, off-the-shelf cloud applications, our own platforms, whether it is Blue Marble or otherwise, that will continue to grow, will remain the core of our business, right? The work that Sachin and Satish, working with people like Kunal, who leads our digital practice for the company, or Suri, that business is going to be -- still, I mean, you might as well call that business as core, right? It will continue to remain. The other part of the business for us, core, again, no marks for guessing is going to the network business. If we said that we are in the year short of maybe hitting a $1 billion run rate sometime soon. I think we'll continue to drive that. Biren's business, which is the BPS business, it today is about close to -- I don't remember the number, but maybe 45%, 47% of total BPS comes from CME. I think it's a brilliant platform. We don't believe we have dialed all the numbers in that space yet. There are many processes, many aspects of many customers that we still today do not serve with our BPS digital capabilities, and we will continue to work on that. Our telecom engineering unit I think we are still below par in comparison to many of our other esteemed competitors, relatively speaking. I see that not as a statement of that we lack anything other than we see that is our headroom to grow, which is why we got Rohit who joined us a few days ago, and we're going to drive a lot of focus in that space. Our product and platform business, which is Comviva, I think it's something that we will keep a very close eye on because we believe there is power in IP and there is power in driving transformation because there are thousands of problems. There are not thousands of solution providers all the time. People sometimes are not the only answer to the problems. Third-party companies are also not the only answers to the problems. There are very specific niches that we can invest in, we will continue to invest in, and offer our own IP to solve those issues. XDS, which is really content, commerce and creative, I think, is another big part of the focus. And by the way, all these things, this semi circle will actually be circled because they all work together. Our execution theaters or areas how we wake up in the morning and do our prayer meetings, is thinking, which is what we have done in the last 12, 15 months, we talk large deals, we talk accounts. Our investments in our accounts are going to continue to happen. We believe we wrote the book on scaling accounts back in the days. We are now getting back to -- and getting our mojo back on that. We'll continue to drive that focus and ensure that our account management -- we believe accounts are access of our growth, and we'll continue to keep strong focus there. Our IP-led digital transformation, we spoke about it. 5G velocity and scale is a priority for us. Partnerships clearly is important, whether in the cloud realm, whether in the digital realm or in the software as a service space. We will continue to work with all those people because they have done majority of the innovation. It is about realizing the value of those softwares or those infrastructures to create and deliver solid value to the customers. That's very, very clear. And last but not the least, a happy customer is a great customer. It's a growth orientation story for us. And we are happy that we are blessed with a set of leaders and teams. We invest in our talent, HR teams, L&D teams, our delivery teams, our quality management teams, our software excellence teams are very, very well aligned to ensure that ultimately, the buck stops at only one place, which is when we make a phone call to a customer and say, we just delivered something to you, are you happy? And the answer is, yes, we are all right. That gives us the greatest pleasure. Besides, getting some feedback from all of you. Thank you so much.

Thank you, Anish. Thank you, Naresh. And that was a great ending to the day. And I'm sure you will have a lot of questions. So now we will begin with the Q&A session. Over to you, [ Chander ].

Thanks. May I request all the leaders to come on stage, please. Manish, Rohit, Dhanashree, Simmi, USR, Suri. Okay. Anyone wishing to ask this question, just state your name and the company that you are with.

I forgot to say one thing in my presentation. I wanted to not only thank the telcos for the network, I also wanted to thank everybody who's joined on Zoom because they are also proving that our business lands okay.

Can anyone pass on the mic to Kawaljeet, please?

My first question is for the BFSI segment. You did mention that you have all the building blocks in place for sustainable growth. And one of the pillars you mentioned there's core banking. But when you look at the core banking business globally, it does not grow. So how is that a growth driver? The second aspect of that our banking business in drill is that -- actually, why don't you answer the first question, and then I'll come up with a follow-up after that.

So one of the things -- and maybe I just kind of combed through my presentation at that point in time. So one of the things, Kawaljeet, which is happening and which is going to be probably, in our opinion, one of the biggest disruptors is how the legacy core banking as banks get replaced. And we are already starting to see the trend with the Tier 1 banks. Banks like JPMorgan, which have had the same core banking for a fairly large period of time starting to replace their core banks, right? And we see the trend across all Tier 1s and across Tier 2s because that's what's going to drive the true digitalization of the banks. So which is where we feel that, that's a big opportunity in one segment. Now the other segment is the new banks which are being set up. And there are new licenses being given for the new banks across the globe. We have seen that. And that's the second area where the core banking is seeing a resurgence and that there's a massive demand in -- that's driving the second phase of demand from the core banking side. So across these 2 segments, at least for the next 5 years, we feel that there's going to be a big opportunity in rip-and-replace, upgrade and the new banks being set up, which will drive the demand format.

When you look at the U.S. bank, there have been -- the case for core banking has been made for the last 20 years because they've been running legacy systems for the last 20 years. So what would change now for them to rip and replace? I mean core banking replacement takes 5 years. Which CIO would want to go through that kind of a journey?

And I'll just give the example of JPMorgan, the second-largest bank in the U.S., Bank of America going with that very actively. The Tier 2 banks, the mid-tier banks and the community banks, and there are 1,500 community banks across the U.S., all of them, post pandemic, looking at not just building wrappers around their legacy core banking to become more digitalized in nature, but also looking at how do they become more -- how do they offer their products more actively to customers through the digital channels and which is where core banking plays a very active role. It's been reported across multiple reports, and we are seeing the same in the marketplace, especially from a U.S. perspective. So that's one. Second thing is around the upgrades and which we are seeing across the multinational banks, which are predominantly European banks across the globe, and there is a massive upgrade exercise. Like I said, there is [ e-password ]. There is the rip-and-replace, which a few banks will not upgrade because a lot of the banks are opting with -- running on the old [indiscernible] of the world, which are the old FIA system in the world, which are just not really helping them become truly digital banks in that sense of the word. And then the third is the newer banks and look at that segment product.

Fantastic. The follow-on question that I had is that, you did mention that many of the clients have you as a secondary vendor -- managed as a secondary vendor. I'm not familiar with that concept. What does the concept stand for?

So the -- I think the message was that are we getting access to new Tier 1 clients as we build our practice. And it was those -- that was just one example that there are 10 clients which are in the top 100 financial institutions that we have a seat on the table. So the way we would have gone in there is we would have done specialized work for them over the last few years, created our credibility there. And now, we are sitting on the table and it opens a wider set of opportunities for us.

Does that entitlement mean that you are allowed to bid for all programs, that comes from...

A wider entitlement, yes. That's what it means. We would have moved from a niche specialist vendor in a specific area like core banking and gone to do other things.

Yes. And has this entitlement resulted in any meaningful revenue opportunities for you or translating that -- is that translating into revenues right now for you?

They are firing up the growth engine, absolutely.

My question is directed to Manish, sir. This is [ Mayankar ] from [indiscernible]. Sir, I noticed in the showcase outside, a lot of these platforms like factorial or other mobilities, there's a lot of similarity with these businesses such as A2P messaging or CPaaS businesses which have come in focus as a result of this pandemic. So my first question to you is, could you give us a little more segmental breakup or detail of the Comviva business? And related to that, what portion of the business has some similarities with this CPaaS or A2P messaging per se?

I think the segmentation is pretty clear. We are focusing on the digital messaging aspect of the business. We're focusing on -- which basically also includes our sales distribution, which is linked to our BSS platforms, which is really about supporting the core telco digital platforms, which are not revenue side, which is more service side. The revenue side is the mobile money, and of course, whatever we are doing with messaging. So that's -- those are 2 big segments. Then there is factorial that we are building. Overall, our product strategy is something -- product and platform strategy is right now at a stage where we -- what I like to call is the semifinal version of landing that completely over the next few months because what has very nicely happened is we have assimilated and built a lot of this product and platform capability within Comviva and some of them outside. We are now synthesizing them, rationalizing them, ensuring that no ball gets dropped in our -- so very execution focus right now on that business on what we call as PNP, our product and platform, business. And there will be competition for that business coming in from some of the -- one of the new emerging players and also from some of the mainstream companies. What we'll also differentiate is where do we sell and what do we -- where do we position this? So I guess, over the next few months, maybe by February end or something, we will be in a position to try and give you more specifics in terms of which product is -- there are some very clear rule sets that each product will generate about $50 million or more of revenue, about 25% of EBITDA. Once it scales, of course, there is a gestation period initially. And we are also ensuring that there is no duplication between one product versus the other. And third is what it will compete with. We are very clear about that. It has to be synergistic with our overall vertical and our horizontal.

This is Mukul from Motilal Oswal. Again, a follow-up on Manish. Manish, very good presentation. I think quite a lot of detail was given. I was just trying to unpack that from a growth perspective. If you -- you mentioned that the 5G core opportunity still is in a follower mode, which means it might take another 2-plus years to kind of start playing out in full speed. In the meanwhile, over next maybe 4 to 6 quarters, what kind of growth opportunities you have, especially how much opportunity still is there to kind of prepare telcos to digitize their core to get ready for 5G? And second part, obviously, is that from an engineering perspective, with 5G products now coming to the market, is that still a very early-stage opportunity? Or is that more mature now?

No, I just want to clarify, call that -- when I said 2 years or more, that was 5G for enterprise. 5G within the telco, and to your second part, 5G within the engineering side is already happening right now. So what Dhanashree also presented as a number that this time last year -- sorry, last 1 full year, financial year '21, our total 5G-related revenue was about $110 million total. This quarter, quarter 2 -- last quarter, sorry, was about $112 million, right? Just in 1 quarter. Our run rate is about anywhere around $500-plus million at this point for the year. So which means the 5G, both digitization and 5G network opportunities, are happening as we speak. And we expect this trend to continue at some pace. Same thing on the engineering, you are bang on the money that the innovation in the 5G cycle on the product is happening now. And we are enjoying some benefits of that on our engineering business. That business, like I said, is growing at about 25% at this point. It's smaller base, but we are continuing to invest and get more rapid pace. It's many companies, many smaller companies that we end up working with at this point because there are no big box people that are there from our vantage point. Our business is largely going to happen with many device makers, many OEMs, small OEMs and many software makers in that space. So I hope that settles that question that our 5G journey has begun this year, has scaled this year almost 4x than last year in the telco space in both the digitization as well as in the network realm, right? And engineering also is continuing to increase. Enterprise, which is where the use cases and the private networks, that I'm saying is a little -- we're able to follow that journey, and it's following -- at some point, it will -- there will be a tipping point.

Right. So just to follow up on this. If you look at the -- again, the use case part of 5G, as you said, an enterprise will take some more time. Do you expect the traction of the spend for telcos to follow the trajectory, which was there in 4G? Or will it be a little bit more cautious approach which they will take in their build-out given that the enterprise use case still is not very solid?

There are 2 thoughts there. I don't -- I can't speak for all the service providers across the world, but there are really 2 thoughts. And I can just tell you what I hear. One thought is there is no such killer app out there that will -- that we need to wait for, right? I think the 4G network proved that. The networks were built, apps kept happening. And one fine day, we suddenly realized we operate and live, work and play very differently. We gave all the credit to the digital OTT players and the innovators -- application innovators. But let's face it, nothing of that would have happened without the 4G networks. Same thing is likely to happen. Telcos recognize, many telcos realize that. There are economies and there are parts of the market where maybe there is no immediate need to go for a 5G network. There are parts of the world that is still thinking about a 4G expansion as we speak. So it is going to be a mixed bag. We have also said that we don't expect that the entire world, one fine day, the switch will be on and everyone across the world will put a 5G network. It's going to be an evolutionary journey. This journey also will be very different in different parts of the world. It will be very different from one country to the other country, even if they are neighboring, right? So I think it's a mixed bag. What we do believe is that not everybody is waiting for any killer app out there. The 5G investments are very clear for 2 reasons: one, the technology is awesome; two, there is already an economic benefit by deploying the 5G networks because they are largely software defined, largely cloud native. In some cases, they are already proven that they can disaggregate some parts of it, if not completely, and hence, the cost of deploying and managing a 5G network is definitely cheaper than a traditional network, as you call it. So you don't have to wait for something magical. You can keep investing.

Yes, on the enterprise side, I think the early stage what we have started seeing is the smart city, smart infrastructure, connected car 2.0, and autonomous. China, Germany, U.S. in quite a few cities, the limited 2 kilometer, 3 kilometers of those road getting connected on the private on the 5G part. I think those are the early stage. All of you, would have seen like Industry 4.0 POCs 5 years back, right? I mean the same way today, many of those in the factory, in mines and supply chain warehouses are the POC -- the small 100,000, 200,000 kind of POCs. That journey has started. I think as Manish was saying that it's going to be like a year or 2 years when it will start taking and scaling up.

Any other questions here? I guess we answered everything in our presentations. Thanks a lot. Thanks for coming over, and I'll see you back in Mumbai. We also request you to fill up the feedback form and submit on the registration text outside. Thank you.