Firstsource Solutions Ltd. — Investor Presentation 2024

May 3, 2024

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3[rd] May 2024

To:

National Stock Exchange of BSE Limited (Scrip Code: India Limited (Scrip Code: FSL) 532809) Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (East), Mumbai - 400 051

Dear Madam/ Sir,

Sub: Investor Presentation

We are enclosing herewith a copy of the presentation regarding conference call held on Friday, 3[rd] May 2024 at 4.00 PM IST with the analysts and investors, on the financial results of the Company for the quarter & financial year ended 31st March 2024.

This is for your information and record.

Thanking you,

For Firstsource Solutions Limited

POOJA SURESH Digitally signed by POOJA SURESH NAMBIAR NAMBIAR

Pooja Nambiar Company Secretary

Encl.: A/a

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INVESTOR PRESENTATION

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1

© FIRSTSOURCE

Disclaimer

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Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in BPO services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on client contracts, client concentration, our ability to manage ramp-ups and growth, our ability to manage our international operations, reduced demand in our key focus verticals, disruptions in telecom infrastructure and technology, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, performance of our subsidiaries, withdrawal of government fiscal incentives, political instability, legal restrictions on raising capital and acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry. Firstsource may, from time to time, make additional written and oral forward-looking statements, including our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

© FIRSTSOURCE | 2

Firstsource: Who we are?

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Established in 2001 Public listing in 2007

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Domain driven BPM services company leveraging a ‘Digital First, Digital Now’ approach to solve key customer problems

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150+ global clients including

18 Fortune 500 companies and 3 FTSE 100 companies

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27,940* Firstsourcers

across US, UK, India, Philippines and Mexico

*As on 31[st] Mar. 2024

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Part of RP-Sanjiv Goenka Group Since 2012

Leaders in chosen segments

across Banking & Financial Services, Healthcare, Communications, Media & Technology

Deep partnerships with clients Average tenure of top 5 clients is over 18.4 years

Revenues of INR 63.4 Billion

(US$765 Million) in FY2024

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© FIRSTSOURCE | 3

Part of RP-Sanjiv Goenka Group

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Power Consumer & Retail Education & Infrastructure Sports Carbon Black Media & Entertainment Combined Revenues Asset Base Shareholders US$4.5 Billion[] US$6 Billion[] 1 Million+[*] IT-Enabled Services

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• All figures as on FY23 © FIRSTSOURCE | 4

We work with the leading global enterprises…

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Banking &

Banking & Communications Financial Services Media & Technology Asset Finance Streaming Services Credit Cards Cable TV Mortgages Broadband & Telephony CMT Retail & SME Banking 23.6% Consumer Tech FinTech E-Commerce BFS 37.3% Diverse 6.2% Healthcare Healthcare 32.9% Diversified

Industries

Hospital Providers Health Plans Healthcare Services Medical Devices

Utilities

Government Entities

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5 of Top 15 Mortgage Servicers in the US 5 of Top 15 Mortgage Lenders in the US 6 of Top 10 Credit card issuers in the US

3 of Top 6

Retail Banks in the UK

1,000+

Hospitals in the US 7 of Top 10 Health insurance/managed care providers in the US

1 of Top 2

Broadcasting and media companies in the UK

2 of Top 5

Telecom and broadcasting companies in the US

3 of Top 5

Consumer-tech companies in the US

2 of Top 4

Utility companies in the UK

© FIRSTSOURCE | 5

And are market leaders in our focus domains

Customer Experience (CX)

Collections

Omnichannel engagement Active user personalization Intelligent automation Virtual Copilot

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Omnichannel engagement White-labeled digital collections
Active user personalization First-party & 3rd party collections
Intelligent automation Legal collections
Virtual Copilot Compliance & risk management
D&A
T&S IBO
Consulting
25.8%
DECX Collection
Consulting Data & Analytics (D&A)
Technology solutions 54.9% CX Data annotation and labeling
CX strategy and design Predictive analytics
Process optimization Managed services
Metrics & measurement DP&S AI-enabled services
PAA
19.3%
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Consulting

Data & Analytics (D&A)* Data annotation and labeling Predictive analytics Managed services AI-enabled services

Trust & Safety (T&S)* Audit of policies/queue structures Workflow optimization Real-time content monitoring Predictive analytics

Domain-led Platforms/Solutions (DP&S)

Sympraxis – Digital intake operations Firstsource Healthcare Cloud – Revenue cycle management

• Emerging services

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Market Leader Star Performer Healthcare Payer Operations Peak Matrix Assessment | 2023

Major Contender RCM Operations Peak Matrix Assessment | 2023

Major Contender Star Performer Banking Operations Peak Matrix Assessment | 2023

Leader Quadrant Customer Experience Services Provider Lens | Europe | 2023

Horizon 2

Customer Experience Services HFS Horizons | 2024

Leader

Cost Optimization & Revenue Generation Capability NEAT Vendor Analysis | 2024

Source: The Everest Group, ISG, HfS, Nelson Hall

DECX: Digitally Empowered Customer Experience | IBO: Intelligent Back Office | PAA: Platforms, Automation & Analytics

© FIRSTSOURCE | 6

We have realigned our strategic priorities…

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TOP-QUARTILE REVENUE GROWTH CONCURRENT MARGIN EXPANSION	Simplify t Cro E T Elev Improve	he organization ss-sell/up-sell into existing clients xpand capabilities Amplify the ‘Firstsource’ brand ech in everything we do ate employee experience margins

© FIRSTSOURCE | 7

And are focused on execution

Our recent deal wins

10-year renewal of contract as the primary outsourcing partner by the Top client, one of Europe’s leading media and entertainment companies

Selection by Education Testing Services , one of the largest education assessment organizations in the world, to provide student support and technology services

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New business for digital intake and digital customer engagement services with one of the largest managed health care and insurance companies in the US

Selected by one of the Top five banks in the UK , one of our long-standing clients, for a large transformational program

Working with two of the largest consumer tech companies globally on training their proprietary AI tool leveraging its AI Ops framework

Additional business from one of the largest utilities companies in the UK , to provide core customer support

Selected by a large cooperative financial institution in the UK for services in the areas of financial crime and compliance

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Total headcount

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Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Attrition
44.9% 45.3% 44.8%
43.3% 42.5%
42.3%
39.1%
36.1%
33.8%
30.8%
Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24
Onshore Offshore
27,940
25,947
23,953
23,018 22,384
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*For employees in employment for more than 180 days

© FIRSTSOURCE | 8

We expect Gen AI to open new revenue streams…

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Most enterprises are still early in their GenAI adoption cycle

• After initial exuberance, enterprises are now looking at Gen AI in a more holistic manner

• Cost of compute and predicting same for future is gaining attention

• Scaling experiments and its implication are being discussed

Focus on Trustworthy and Responsible AI

• Copyrights, Data Security, and compliance has become key areas of focus

• Explainability and guardrails for model response is important to increase adoption

Scale adoption to open new market opportunities

• Co-develop domain/function-specific LLMs along with technology companies

• Need for Open Source & OnPrem LLMs by a few enterprise

Continued focus on POCs/Data quality as field evolves

• Move towards building agents that perform tasks along with other features

• Grounding the models with enterprise data to improve model output

• Pre-built integrations to enterprise systems to accelerate time-to-market

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© FIRSTSOURCE |

9

And we are building capabilities to address the opportunity

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FirstSense.AI	Partner
FirstSense.AI Studio	ecosystem
MortgageQuality Auditco-pilot Multi-language proprietary LLMs Our proprietary framework to accelerate client’s AI deployment Sandbox ecosystem for experimentation, evaluation, and integration	Gen AI based FirstAssist Initiative to proactively engage Firstsourcers in AI engineering Across Robotics, Process and Task Mining, and Conversational AI First demos h
launched to production. supported. Completed 55+ POCs; 8+co-	launched across org policy Q&A 5+ cus
pilots in production*

FirstSense.AI demos has influenced 5+ customer wins

*As on 31[st] Mar. 2024

© FIRSTSOURCE | 10

We are socially conscious

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Firstsource ranked in the top 96th percentile on the Dow Jones Sustainability Index

Score of 62 on the CSA metric as well as on the ESG metric in the first year of participation Included in the S&P Global Sustainability Yearbook 2024, one of only three Indian IT & ITES companies listed

Environment 65% Increase in consumption of RE vs FY22 (India)	24% Renewable energy mix (India)	4 Offices are Green Building Certified	100% Waste disposed to waste handler	77% Reduction in Scope 1 emission vs. FY22
Social 46% of the total workforce comprise of women	Level 3 Disability Confident Leader in the UK	15,298 CSR – Hours of Volunteering	INR68.4Mn Spent directly through our CSR Initiatives	70% New suppliers screened on E&S KPI
Governance 50% of the Board are Independent Directors	10% of Independent Directors are Women	54% Promoter shareholding	Zero Fines and penalties related to unethical business practices	Zero Cases of insider trading

© FIRSTSOURCE | 11

RE: Renewable Energy

And focused on shareholder value creation

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5 Years Stock Performance

NSE: FSL | BSE: 532809 | Reuters: FISO.BO | Bloomberg: FSOL:IN Market Capitalisation: US$1.8bn | Average daily trading volume: US$ 7.5mn

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FSL | 331%
Nifty IT | 106%
May-19 Nov-19 May-20 Nov-20 May-21 Nov-21 May-22 Nov-22 May-23 Nov-23 May-24
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Shareholding Pattern*

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Public & Others
19%
Promoter
DII
54%
17%
FII
10%
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Key institutional shareholders

• HDFC Mutual Fund

• ICICI Prudential Mutual Fund

• Tata Mutual Fund

• Vanguard Group

• BlackRock

• SBI Mutual Fund

• Steinberg India

• Dimensional Fund

• LSV Asset Management

• Mahindra Manulife Mutual Fund

Total Shareholder Return

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1 Year return 78% 3.0%
3 Year return 70% 8.5%
5 Year return 331% 32.8%
0% 50% 100% 150% 200% 250% 300% 350% 400%
Share Price Return Dividend yield
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*As on 31[st] Mar. 2024

All stock price data based on closing prices as of 2[nd] May 2024; Average daily trading volume is average for the last six months

© FIRSTSOURCE | 12

Leadership team

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Ritesh Idnani
MD & CEO
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Dinesh Jain
Chief Financial Officer
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Prashanth Nandella Aftab Javed
Chief Operating Officer Chief Human Resources Officer
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Aniket Maindarkar Hasit Trivedi
Chief Marketing Officer Chief Digital & AI Officer
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Vivek Sharma Venkatgiri Vandali Rajiv Malhotra
Head – CMT, BFS Head – Healthcare & Head – Europe, Middle East
and Emerging Geos Lifesciences & Africa
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Arjun Mitra Ashish Chawla Akash Pugalia Sundara Sukavanam
Head – Collections Head – CX and Consulting Head – Trust & Safety Head – Enterprise
Transformation Office
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© FIRSTSOURCE | 13

In summary…

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We see potential to grow at an accelerated pace over the medium term…

Discontinuities caused by macro and technology shifts are creating market opportunities

Our ‘market positioning’ gives us an advantage

…Helped by our unique differentiators…

Roster of long-standing relationships with quality clients with large spend Recognized market leadership in our chosen domains

…And driven by the One Firstsource playbook…

Focus on account mining and expanding capabilities

Speed-to-market, clear accountability and improved market visibility are key imperatives

…Even as we remain focused on execution in the near term

FY24 deal wins ever highest Robust Q4FY24 exit deal pipeline

© FIRSTSOURCE | 14

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Factsheet

© FIRSTSOURCE | 15

Financial performance snapshot

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Revenue (in $ million)
-0.1% 5.6% 18.5% 16.0% -5.7% 2.0%
2.0% 6.6% 17.9% 14.6% -1.1% 1.1%
FY18 FY19 FY20 FY21 FY22 FY23 FY24
Constant Currency Growth YoY Revenue Growth
795 750 765
685
548 548 578
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EBIT and Margin (%) (in ₹ million)

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10,000 14.0%
9,000 11.1% 12.0% 10.8% 11.8% 12.0% 11.0% 12.0%
8,000 9.4%
7,000 10.0%
6,000
8.0%
5,000
6.0%
4,000
3,000 4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 FY24
EBIT EBIT Margin (%)
7,105 6,962
5,979 5,633
4,610 4,437
3,930
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Revenue (in ₹ million)
8.2% 7.1% 23.9% 16.6% 1.7% 5.2.%
FY18 FY19 FY20 FY21 FY22 FY23 FY24
YoY Revenue Growth
59,212 60,223 63,362
50,780
35,352 38,263 40,986
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PAT and Margin (%)

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(in ₹ million)
8,000 12.0%
9.9%
7,000 6,000 9.2% 8.3% 9.1% 8.5% 8.1% 10.0%
7.1% 8.0%
5,000
4,000 6.0%
3,000
4.0%
2,000
2.0%
1,000
- 0.0%
FY18 FY19 FY20 FY21 FY22 FY23 FY24
PAT PAT Margin (%)
5,374 5,137 5,147
3,265 3,778 3,397 3,617
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Note: FY24 EBIT margin was 11.1%, adjusted for on-time charges related to leadership changes in Q2FY24

Note: FY21 PAT was ₹ 4,499 m excluding exceptional items

© FIRSTSOURCE | 16

Key performance indicators

Return on Equity (%)

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FY18 FY19 FY20 FY21 FY22 FY23 FY24
17.7%
15.3%
13.9% 13.9% 12.3% 12.9% 13.9%
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Cash Flow (in ₹ million)
FY18 FY19 FY20 FY21 Adj FY22 Adj FY23 FY24
Operating Cash Flow Free Cash Flow
8,921
7,225 7,870 7,141 7,634 7,119
6,448 5,597
4,000 4,104
3,151 2,526 2,913 3,156
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Return on Capital Employed (%)

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FY18 FY19 FY20 FY21 FY22 FY23 FY24
Debt Position (in ₹ million)
FY18 FY19 FY20 FY21 FY22 FY23 FY24
Long term Debt Short term Debt Net Debt
including current maturities
17.6% 17.6%
15.4%
13.0% 14.1% 12.3% 13.4%
6,950
5,271
3,490 6,673
8,341 8,013
4,367
5,390 6,526 6,159 6,042
5,273
3,885 3,846
3,233 3,147 2,999
187 92 1,678 1,451
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© FIRSTSOURCE | 17

Summary of Performance for the Quarter ended March 31, 2024

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REVENUE EBIT
₹
₹
₹ 16,705 Million ₹ 1,830 Million
(US$ 201 Million) (Margin 11.0%)
YoY growth of 7.3% YoY growth of 1.7%
Constant Currency YoY growth of 4.5% YoY Margin contraction of 60bps
Constant Currency QoQ growth of 4.2% QoQ margin expansion of 30bps
PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 1,335 Million ₹ 1.90
(Margin 8.0%) per share
YoY decline of 5.5% Q3FY24 at ₹ 1.84 per share
YoY Margin contraction of 110bps Q4FY23 at ₹ 2.02 per share
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© FIRSTSOURCE | 18

Summary of Performance for the Full Year ended March 31, 2024

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REVENUE EBIT
₹
₹
₹ 63,362 Million ₹ 6,962 Million
(US$ 765 Million) (Margin 11.0%)
YoY growth of 5.2% YoY growth of 25.4% [#]
Constant Currency YoY growth of 1.1% YoY Margin expansion of 180 bps [#]
PROFIT AFTER TAX EARNINGS PER SHARE
₹
(Diluted)
₹ 5,147 Million ₹ 7.34
(Margin 8.1%) per share
YoY growth of 26.8%
FY23 at 7.32 per share
YoY Margin expansion of 130 bps
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• excluding one-time charges related to leadership changes in Q2FY24

*excluding other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

© FIRSTSOURCE | 19

Revenue split | Q4FY24

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Revenue split by Revenue split by
verticals geography
Diverse RoW
6.2% 0.1%
CMT
US
23.6% UK
65.0%
34.9%
BFS
37.3%
Healthcare
32.9%
Banking & Financial Services (BFS) Healthcare United States (US) United Kingdom (UK)
Communication, Media & Tech (CMT) Diverse Industries Rest of World (RoW)
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Revenue split by service lines

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PAA
19.3%
DECX
54.9%
IBO
25.8%
Digitally Empowered Customer Experience (DECX)
Intelligent Back Office (IBO) Platforms, Automation & Analytics (PAA)
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© FIRSTSOURCE | 20

FY25 business outlook

10-13%

constant currency revenue growth

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11-12% EBIT margin

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© FIRSTSOURCE | 21

Profit & loss statement Consolidated IndAS financials

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In ₹ million	Q4FY23	FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	QoQ	YoY	FY24	YoY
Income from services	15,566	59,859	15,267	15,417	15,948	16,693	4.7%	7.2%	63,325	5.8%
Other operating Income	2	364	25	(17)	17.6	12	(33.5%)	505.2%	37.17	(89.8%)
Revenue from operations	15,568	60,223	15,292	15,400	15,966	16,705	4.6%	7.3%	63,362	5.2%
Revenue from operations (USD Mn)	$ 190	$ 750	$ 186	$ 186	$ 192	$ 201	4.9%	6.2%	$ 765	2.0%
QoQ Growth % - Constant Currency	2.5%	-	(3.0%)	(0.1%)	3.4%	4.2%			-
YoY Growth % - Constant Currency	(2.8%)	(1.1%)	(1.6%)	(1.9%)	2.8%	4.5%			1.1%
Personnel Expense	9,692	38,680	9,239	9,402	9,895	10,558	6.7%	8.9%	39,093	1.1%
Operating Expense	3,435	13,278	3,652	3,710*	3,700	3,643	(1.5%)	6.1%	14,705	10.7%
EBITDA	2,441	8,265	2,402	2,288	2,371	2,503	5.6%	2.5%	9,564	15.7%
EBITDA Margin	15.7%	13.7%	15.7%	14.9%	14.9%	15.0%	10bps	(70bps)	15.1%	140bps
Depreciation / amortization	642	2,632	613	654	663	673	1.6%	4.8%	2,602	(1.1%)
EBIT	1,799	5,633	1,789	1,634*	1,709	1,830	7.1%	1.7%	6,962	23.6%
EBIT Margin	11.6%	9.4%	11.7%	10.6%	10.7%	11.0%	30bps	(60bps)	11.0%	160bps
Other Income / (expense)	105#	1,251#	6	153#	134#	75	(44.2%)	(28.8%)	368	(70.5%)
Interest Income / (expense), net	(185)	(732)	(243)	(244)	(235)	(312)	32.8%	68.3%	(1,034)	41.3%
Profit Before Taxes	1,719	6,152	1,553	1,543	1,608	1,593	(0.9%)	(7.3%)	6,296	2.4%
Taxes and Minority Interest	306	1,015	293	278	321	258	(19.5%)	(15.6%)	1,150	13.3%
Profit After Tax	1,413	5,137	1,260	1,265	1,287	1,335	3.7%	(5.5%)	5,147	0.2%
Net Margin	9.1%	8.5%	8.2%	8.2%	8.1%	8.0%	(10bps)	(110bps)	8.1%	(40bps)
Diluted EPS (₹ /Share)	2.02	7.32	1.80	1.80	1.84	1.90	3.3%	(5.8%)	7.34	0.3%

including other income on account of changes in the fair value of the liabilities for purchase of non-controlling interest and contingent considerations

*Q2FY24: include one-time charges

© FIRSTSOURCE | 22

Balance sheet

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Consolidated IndAS financials

In ₹ million	As on 31-Mar-23	As on 31-Mar-24
ASSETS
Non-Current Assets
Fixed assets	2,789	2,461
Right-of-use assets	4,958	6,355
Goodwill on consolidation	29,450	29,885
Investment in associates	0	0
Financial Assets
Investments	116	115
Other financial assets	488	825
Deferred tax assets	2,948	2,921
Income tax assets(net)	786	809
Other non-current assets	1,026	2,086
Total Non-Current Assets	42,561	45,457
Current Assets
Financial assets
Current investments	596	300
Trade receivables	10,385	11,608
Cash and cash equivalents	1,515	1,748
Other balances with bank	40	137
Other financial assets	40	94
Other current assets	1,507	1,486
Total Current Assets	14,082	15,374
TOTAL ASSETS	56,644	60,830

In ₹ million	As on 31-Mar-23	As on 31-Mar-24
EQUITY AND LIABILITIES
Shareholder's Funds
Equity share capital	6,970	6,970
Reserve and surplus	26,699	30,034
Non - controlling interest	4	4
Total Equity	33,672	37,008
Non-Current Liabilities
Financial Liabilities
Long-term borrowings	1,394	42
Lease liabilities	4,467	5,714
Other Financial Liabilities	181	0
Provisions	137	188
Deferred tax liabilities	1,196	1,470
Total Non-Current Liabilities	7,375	7,414
Current Liabilities
Financial Liabilities
Short-term and other borrowings	6,876	8,081
Trade payables	2,314	3,056
Lease liabilities	1,195	1,495
Other financial liabilities	3,556	2,047
Other current liabilities	829	1,057
Provisions	826	467
Provision for tax (net)	0	205
Total Current Liabilities	15,597	16,409
TOTAL LIABILITIES	56,644	60,830

© FIRSTSOURCE | 23

Cash flow statement

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Consolidated IndAS financials

In ₹ million	Full year ended March 31, 2023	Full year ended March 31, 2024
Cash Flow from Operating Activities
Netprofit before taxation and non controllinginterest	6,152	6,297
Depreciation and amortization	2,632	2,602
Finance costs(For borrowing& lease liabilities)	790	1,034
Adjustment: Non-Cash Expense/ (Other Income)	(1,732)	(363)
Add: WorkingCapital Changes	765	(2,404)
Less: Income Taxes Paid	(656)	(718)
Net cashgeneratedfrom/ (used in) Operating Activities(A)	7,950	6,448
Cash Flow from Investing Activities
Capital Expenditure,net	(514)	(850)
Interest income received	10	10
(Increase)/Decrease in current investments	637	357
Short term fixed deposits	-	(33)
Earmarked balances with banks	30	(64)
Net cashgeneratedfrom/ (used in) Investing Activities(B)	164	(580)
Cash Flow from Financing Activities
Net Change in Borrowings	(2,351)	(291)
Net Interest Paid	(787)	(1,011)
Payment of Lease Liabilities	(1,495)	(1,410)
Purchase of TreasuryShares,net	(140)	59
Purchase of non controllinginterest in subsidiary	(276)	(583)
Dividend Paid(Net)	(2,384)	(2,406)
Net cashgeneratedfrom/ (used in) Financing Activities(C)	(7,434)	(5,642)
Net increase/ (decrease) in Cash and Cash Equivalents(A+B+C)	680	226
Cash and cash equivalents at the beginningof theperiod	828	1,515
Foreign exchange(loss) / gain on translatingCash and cash equivalents	7	6
Closing Cash and Cash Equivalents	1,515	1,748
Current Investments	596	300
Short term fixed deposits	-	33
Cash and Cash Equivalents including Investments	2,111	2,081

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Operating metrics

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	Particulars	Q4FY22	Q1FY23	Q2FY23	Q3FY23	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24
Revenue by Vertical	Banking & Financial Services	49.0%	46.3%	43.4%	41.8%	40.3%	40.8%	40.8%	38.3%	37.3%
	Healthcare	30.3%	32.1%	34.5%	34.2%	33.2%	32.6%	32.7%	33.5%	32.9%
	Communications Media & Tech	19.0%	20.2%	20.2%	21.6%	22.3%	21.8%	21.2%	22.5%	23.6%
	Diverse Industries	1.7%	1.4%	1.9%	2.4%	4.2%	4.8%	5.3%	5.7%	6.2%
Revenue by Service Lines	Digitally Empowered Customer Experience	44.4%	46.6%	47.7%	50.4%	52.6%	51.8%	52.9%	53.5%	54.9%
	Intelligent Back Office	36.5%	32.7%	30.9%	29.2%	27.0%	27.0%	25.2%	25.8%	25.8%
	Platforms, Automation & Analytics	19.1%	20.7%	21.4%	20.4%	20.4%	21.2%	21.9%	20.7%	19.3%
Revenue by Geography	US	70.7%	68.4%	67.2%	64.9%	63.3%	63.5%	65.1%	65.4%	65.0%
	UK	27.5%	30.1%	31.3%	34.1%	36.3%	36.4%	34.8%	34.5%	34.9%
	Rest of World	1.8%	1.5%	1.5%	1.0%	0.4%	0.1%	0.1%	0.1%	0.1%
Revenue by Delivery	Offshore	27.0%	27.4%	25.9%	25.1%	24.6%	25.6%	26.7%	30.3%	31.4%
	Onshore	73.0%	72.6%	74.1%	74.9%	75.4%	74.4%	73.3%	69.7%	68.6%
Top Clients Revenue	Top client %	14.8%	15.2%	14.9%	15.8%	15.4%	14.6%	12.7%	13.7%	14.9%
	Top 5 client %	35.9%	36.4%	36.6%	38.5%	37.4%	37.2%	35.0%	35.8%	36.7%
Other Metrices	Total employees (end of period)	26,557	25,234	23,932	23,627	23,018	22,384	23,953	25,947	27,940
	• Employees in India	16,045	14,769	13,431	12,489	12,395	12,457	14,437	16,269	17,987
	• Employees outside India	10,512	10,465	10,501	11,138	10,623	9,927	9,516	9,678	9,953
	Net Addition	(841)	(1,323)	(1,302)	(305)	(609)	(634)	1,569	1,994	1,993
	Offshore Attrition (180 days+)	45.9%	43.8%	45.7%	44.4%	42.3%	39.1%	36.1%	33.8%	30.8%
	Onshore Attrition (180 days+)	50.2%	56.9%	52.0%	47.2%	44.9%	45.3%	44.8%	43.3%	42.5%

Note: Attrition data till FY22 is on a quarterly annualized basis and on a Trailing Twelve Months (TTM) basis effective Q1FY23

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