Persistent Systems Limited — Interim / Quarterly Report 2022

Jan 20, 2022

NSE & BSE / 2021-22 / 121

January 20, 2022

The Manager, Corporate Services, National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Ref: Symbol: PERSISTENT

The Manager, Corporate Services, BSE Limited 14th Floor, P J Towers, Dalal Street, Mumbai 400 001

Ref: Scrip Code: 533179

Dear Sir/Madam,

Sub: Fact Sheet – Consolidated Financial Data – for the quarter and period ended December 31, 2021

Please find enclosed fact sheet of the Consolidated Financial Data for the quarter and period ended December 31, 2021.

The Company has scheduled an investor / analyst call on Friday, January 21, 2022 at 5.30 PM IST. During such call, the Management will comment on the financial results for the quarter and period ended December 31, 2021 as well as on the business outlook. The details of the said investor call are available on the website of the Company.

Please acknowledge the receipt.

Thanking you,

Yours Sincerely, For Persistent Systems Limited

Amit Atre Company Secretary ICSI Membership No.: A20507

Encl: As above

Analyst Presentation

Quarter ended December 31, 2021

January 20, 2022

Forward-looking and cautionary statements

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 IT services including those factors which may affect our cost advantage, our revenues highly dependent on customers located in the United States, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, concentration of major operations of the Company in one city, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Stock Exchanges and 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.

We are Persistent.

A trusted Digital Engineering and Enterprise Modernization partner.

\$199.1M	\$796.4M	\$701.1M	₹1,764M	16,989	\$5.0B*
Q3FY22 Revenue	Annualized revenue	TTM Revenue	Q3FY22 PAT	Employees	Market cap
+36.2% YoY	run rate based on Q3FY22	+29.8% YoY	+45.9% YoY	+36.6% YoY	+223.3% YoY

*1 USD = INR 74.92; market cap as on Dec 31, 2021

Strong global presence with 16,989 team members across key geographies

Our core strengths in Digital Engineering fuel the next wave of transformation for our clients

Persistent IP led business

Revenue Share with Client

• \ Persistent is primarily responsible for endto-end Product Engineering, Professional Services and Customer Support
• \ Client is responsible for sales & marketing
• \ Persistent remuneration linked to revenue outcome

Acquired Products & Platforms

• \ Products and platforms which have been acquired from ISV clients and further enhanced by Persistent
• \ The business (formerly Accelerite) is owned and run by Persistent including underlying IP, development of product roadmap, sales and marketing, support operations

Reseller Business

\ Resale of partner products, platforms and IP such as IBM, Salesforce, Microsoft, AWS, Appian, Outsystems, as a part of solutions delivered to our clients

Current Status & Strategy

\ Persistent will selectively pursue revenue share opportunities which are in line with the broader Persistent strategy and are commercially attractive

\ Includes products & platforms: Concert & Aepona (App Monetization Platform for CSPs and other enterprises), Radia & Sentient (Security & Endpoint Management), Rovius Cloud (Hybrid Cloud Management) and ShareInsights (Data Analytics)

\ We will drive growth of these products & platforms, using these as differentiators for client engagements

\ Resell business as part of services engagements is critical to win and execute such projects

\ Accounted on a net revenue basis unless resale business enables downstream services revenue

Delivering consistent growth in revenue and margins

Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22

On account of broad-based growth across all industry segments

Quarterly Revenue (\$M), % YoY Growth

* This chart excludes revenue from the top client

Leading to lower client concentration and greater predictability from other large accounts

Client Concentration Large Client Count

Top 10 clients as % of total revenue >\$5M Annual Revenue

15

16

11

Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22

Q4FY20 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22

17 17

^{21 22}

24

And significant shareholder value creation

Persistent's Total Shareholder Return Persistent 1-Year Stock Performance*

vs NIFTY 50 & NIFTY IT Index

Performance Highlights

"We are proud to announce another quarter of exceptional performance, with 36.2% year-over-year growth. This sustained momentum is a result of our strong capabilities in designing and engineering new digital experiences, revenue streams, and business models for our clients.

This quarter, we received multiple analyst accolades, including the 2021 ISG Star of Excellence™ Awards for exceptional client service in Analytics, Salesforce, Intelligent Automation, and Manufacturing. As we progress on our growth journey, we will continue to enable our clients with differentiated digital engineering expertise and solutions to help them disrupt their industries and create more value for their customers.

And finally, we welcomed Avani Davda to Persistent's Board of Directors and continued to add new seasoned executives to our leadership team. In addition, we onboarded the first member to the Persistent Advisor Network, Werner Boeing, former Roche Diagnostics CIO."

Sandeep Kalra Chief Executive Officer and Executive Director

Financial highlights for Q3 FY22

TCV and ACV Bookings

Q4FY21 Q1FY22 Q2FY22 Q3FY22

Trailing Twelve Month ACV*

Trailing Twelve Month TCV (New) \$1,108.1M \$592.3M

\$881.9M	Trailing Twelve Month ACV (New)	\$427.8M
----------	------------------------------------	----------

TTM performance

Notable News and Achievements

Persistent Announces Avani Davda to Board of Directors

Avani brings to Persistent a diverse set of experiences in operating and leadership roles across the consumer goods, retail, and hospitality industries at organizations like Tata Starbucks, Godrej Group, Mahindra Logistics and Bain.

• \ Avani serves as an independent director on the Board of Mahindra Logistics as well as NIIT Ltd.
• \ In 2019, Avani was named by an independent jury put together by The Economic Times in association with Spencer Stuart as an "ET Women Ahead".
• \ In 2014, Avani was nominated as a Young Global Leader by the World Economic Forum.
• \ Avani was recognized in the Forbes US annual list of "40 under 40 leaders" in 2013 and ranked 13 on Fortune and Food & Wine's list of "25 Most innovative Women in Food and Drink" in 2014.
• \ Avani holds a Bachelor's degree in Commerce with Honors (Advertising & Media) from the University of Mumbai and a Master of Management Studies (MMS) from the Narsee Monjee Institute of Management Studies, University of Mumbai (Gold Medalist)

Highlights from the quarter

Welcomed new seasoned executives to Persistent leadership team

Kuljesh Puri SVP, IBM Alliance and Emerging Verticals

Ajai Kumar SVP, Partner Ecosystem

Vijay Iyer SVP, Digital Transformation

Welcomed Werner Boeing, former CIO of Roche Diagnostics, to the Persistent Advisor Network

Awarded Infrastructure Specialization badge by Google Cloud Platform

here, lorem ipsum dolor sit amet lorem ipsum dolor sit amet Selected by AWS as one of the top partners for HCLS Data Analytics Partner Program

Dividend Update

Persistent Board of Directors declared an Interim Dividend of ₹20 per share* on the face value of ₹10 each for the Financial Year 2021-2022.

*Compared to interim dividend of ₹14 in Q3 FY21 and a full year dividend of ₹20 for FY21.

ESG highlights for the quarter

57,000+ trees

Planted in Koyana river valley in South Maharashtra, India.

The largest project of this type in one monsoon in Maharashtra state.

It will help us to offset 500 tons of CO2 emissions every year in the future.

CDP disclosure

We disclosed our carbon footprint and reduction efforts along with all necessary data on CDP portal, for the first time, in line with TCFD guidelines.

We are formulating our ESG strategy, including the roadmap towards becoming carbon neutral and will publish the same in our FY22 Annual Report.

2021 Energy Conservation & Management Award

In the 16th Maharashtra State Level Competition by Maharashtra Energy Development Agency, in the commercial building category.

55% of our consumed electricity is from renewable sources.

Persistent Wins Four Categories in the 2021 ISG Star of Excellence™ Awards, Recognizing Exceptional Client Service

December 23, 2021

Information Services Group (ISG), a leading global technology research and advisory firm, has announced that Persistent Systems (BSE and NSE: Persistent) has won four categories in the annual ISG Star of Excellence™ Awards: Analytics, Salesforce, Intelligent Automation, and Manufacturing. Award winners were selected based on direct feedback from more than 280 enterprise clients.

This acknowledgement builds off Persistent's win of the overall 2020 ISG Star of Excellence™ globally and subcategories of BFSI globally, Healthcare and Life Sciences globally, North America and APAC regions. In addition, for seven consecutive quarters, Persistent has been recognized as a Top 15 Sourcing Standout for Managed Services in the ISG Global Index™ "Booming 15" category.

Congratulations to the entire team at Persistent Systems on their outstanding performance in the 2021 Star of Excellence Awards… Building off their 2020 win of the overall Star of Excellence Award, Persistent continues to excel in key technology areas that power enterprise modernization, digital transformation, and keep companies on the leading edge of change.

Paul Gottsegen — Partner and President, ISG Research & Client Experience

Recent recognition and awards

Major Contender for Salesforce Services

in IDC MarketScape: Worldwide Salesforce Implementation Services 2021 Vendor Assessment

For 9 consecutive years, Leader in multiple categories in the Zinnov Zones ER&D Services 2021 report

Recognized by ISG as a Top 15 Sourcing Standout in the "Booming 15" category for 7 consecutive quarters

Recognized for excellence in Learning and Development at the SHRM India Excellence Awards 2021

Won TISS LeapVault CLO Award for Best Corporate University, Best Games Based Learning Program & Best Quality Management/Best Improvement Training Program 2021

Received the Bronze Award for "Excellence in Team Building Engagement" from the Economic Times HR World

Persistent in the news

The Evolving Cloud Landscape in India – Present and Future with Nitha Puthran Learn More	Imagine Your Future Podcast on "The Persistent Power of Digital" with Sandeep Kalra Learn More	Banking-as-a-Service: A Revolution for Financial Institutions featuring Bipin Sahni Learn More
View From the Top on Payment Systems as the Feature of the Year featuring Keith Sides	Automation is Driving Insurtech Innovation. Healthcare Payers are Reaping the Rewards	When is AI actually AI? Exploring the true definition of artificial intelligence
Learn More	featuring Preetpal Singh Learn More	featuring Raj Sukumar Learn More

Key wins for the quarter

Software, Hi-Tech & Emerging Industries

Digitizing customer services with conversational AI for a world leader in the design, manufacture, and distribution of agricultural equipment.

Transforming multi-billion dollar channel sales management process using Salesforce for one of the largest US-based multinational technology companies.

Modernizing product portfolio on RedHat OpenShift and Microsoft Azure providing seamless architecture accessible by global clientele for a leading oil and gas firm.

Designing and modernization agentfacing policy administration systems for a US-based mutual property and casualty insurer.

Automating critical consumer-facing processes while providing visibility for business through custom interfaces for one of the largest US banks.

Providing advisory, consultative, and post-implementation support services to rebuild business process management program for a large American credit union.

Healthcare & Life Sciences

Engineering software for the analysis, reporting, and delivery of genomic insights enabling precise patient care for a global genomics technology provider.

Building an AI and ML-enabled SaaS platform for efficient practice management and enhanced digital patient experience for a North America-based medical clinic chain.

Modernizing identity management and authorization security solution platforms for a large health services provider.

Client success in action

ANZ Bank builds an innovative Digital Currency solution for the MAS challenge

Persistent built cloud-native bank opens for business in the UK

Learn More

Mindbody speeds platform development; brings a critical product for wellness entrepreneurs quickly to market

Persistent Systems Supports ATOSS to Build a Customer-Centric Organization, Powered by Salesforce

Learn More

Financial Details

Sequential Q3FY22 vs Q2FY22

				Expenses / Sales %	Expenses / Sales %
Particulars	Q3FY22	Q2FY22	Change QoQ	Q3FY22	Q2FY22
Revenue (\$ M)
Services	172.68	159.51	8.3%
IP Led	26.44	22.81	15.9%
Revenue (\$ M)	199.12	182.32	9.2%
Avg. Exchange Rate ₹ / US\$	74.92	74.11	1.1%
Revenue (₹ M)	14,917.17	13,512.49	10.4%
Cost of Revenue	Rs. M	₹ M
Employee Related Expenses	9,683.14	8,783.68	10.2%	64.9%	65.0%
Purchase / Royalty	141.50	171.45	-17.5%	0.9%	1.3%
Project Related Travel Expenses	55.70	26.90	107.1%	0.4%	0.2%
Total Direct Costs	9,880.34	8,982.03	10.0%	66.2%	66.5%
Gross Profit	5,036.83	4,530.46	11.2%	33.8%	33.5%
Sales & Marketing Expenses	1,291.26	1,167.88	10.6%	8.7%	8.6%
Admin. & Other Expenses	1,206.48	1,105.21	9.2%	8.1%	8.2%
Doubtful Debt Provision	13.26	(6.67)	-298.8%	0.1%	0.0%
CSR Activities	15.00	20.10	-25.4%	0.1%	0.1%
Total SGA	2,526.00	2,286.52	10.5%	16.9%	16.9%
EBITDA	2,510.83	2,243.94	11.9%	16.8%	16.6%
Depreciation	187.41	168.12	11.5%	1.3%	1.2%
Amortization	240.44	202.71	18.6%	1.6%	1.5%
EBIT	2,082.98	1,873.11	11.2%	14.0%	13.9%
Other Income / (Loss)	251.25	292.88	-14.2%	1.7%	2.2%
Exchange Gain / (Loss)	29.89	10.33	189.4%	0.2%	0.1%
PBT	2,364.12	2,176.32	8.6%	15.8%	16.1%
Tax	600.17	558.79	7.4%	4.0%	4.1%
PAT	1,763.95	1,617.53	9.1%	11.8%	12.0%

YoY Comparison Q3FY22 vs Q3FY21

				Expenses / Sales %	Expenses / Sales %
Particulars	Q3FY22	Q3FY21	Change YoY	Q3FY22	Q3FY21
Revenue (\$ M)
Services	172.68	119.68	44.3%
IP Led	26.44	26.47	-0.1%
Revenue (\$ M)	199.12	146.15	36.2%
Avg. Exchange Rate ₹ / US\$	74.92	73.58	1.8%
Revenue (₹ M)	14,917.17	10,753.98	38.7%
Cost of Revenue	Rs. M	Rs. M
Employee Related Expenses	9,683.14	6,686.49	44.8%	64.9%	62.2%
Purchase / Royalty	141.50	354.24	-60.1%	0.9%	3.3%
Project Related Travel Expenses	55.70	23.48	137.2%	0.4%	0.2%
Total Direct Costs	9,880.34	7,064.21	39.9%	66.2%	65.7%
Gross Profit	5,036.83	3,689.77	36.5%	33.8%	34.3%
Sales & Marketing Expenses	1,291.26	948.97	36.1%	8.7%	8.8%
Admin. & Other Expenses	1,206.48	869.58	38.7%	8.1%	8.1%
Doubtful Debt Provision	13.26	11.27	17.7%	0.1%	0.1%
CSR Activities	15.00	35.17	-57.4%	0.1%	0.3%
Total SGA	2,526.00	1,864.99	35.4%	16.9%	17.3%
EBITDA	2,510.83	1,824.78	37.6%	16.8%	17.0%
Depreciation	187.41	117.22	59.9%	1.3%	1.1%
Amortization	240.44	343.83	-30.1%	1.6%	3.2%
EBIT	2,082.98	1,363.73	52.7%	14.0%	12.7%
Other Income / (Loss)	251.25	288.11	-12.8%	1.7%	2.7%
Exchange Gain / (Loss)	29.89	(1.74)	-1817.8%	0.2%	0.0%
PBT	2,364.12	1,650.10	43.3%	15.8%	15.3%
Tax	600.17	440.86	36.1%	4.0%	4.1%
PAT	1,763.95	1,209.24	45.9%	11.8%	11.2%

YTD Comparison Dec 21 vs Dec 20

				Expenses / Sales %	Expenses / Sales %
Particulars	YTD Dec 21	YTD Dec 20	Change YoY	YTD Dec 21	YTD Dec 20
Revenue (\$ M)
Services	477.12	341.91	39.5%
IP Led	71.14	71.35	-0.3%
Revenue (\$ M)	548.26	413.26	32.7%
Avg. Exchange Rate ₹ / US\$	74.29	74.40	-0.1%
Revenue (₹ M)	40,728.92	30,745.30	32.5%
Cost of Revenue
Employee Related Expenses	26,387.64	19,294.70	36.8%	64.8%	62.8%
Purchase / Royalty	457.30	862.13	-47.0%	1.1%	2.8%
Project Related Travel Expenses	190.51	130.37	46.1%	0.5%	0.4%
Total Direct Costs	27,035.45	20,287.20	33.3%	66.4%	66.0%
Gross Profit	13,693.47	10,458.10	30.9%	33.6%	34.0%
Sales & Marketing Expenses	3,560.45	2,712.03	31.3%	8.7%	8.8%
Admin. & Other Expenses	3,307.05	2,480.15	33.3%	8.1%	8.1%
Doubtful Debt Provision	(14.10)	116.89	-112.1%	0.0%	0.4%
CSR Activities	70.10	202.17	-65.3%	0.2%	0.7%
Total SGA	6,923.50	5,511.24	25.6%	17.0%	17.9%
EBITDA	6,769.97	4,946.86	36.9%	16.6%	16.1%
Depreciation	488.92	342.10	42.9%	1.2%	1.1%
Amortization	659.85	994.35	-33.6%	1.6%	3.2%
EBIT	5,621.20	3,610.41	55.7%	13.8%	11.7%
Other Income / (Loss)	800.51	775.20	3.3%	2.0%	2.5%
Exchange Gain / (Loss)	149.25	(139.96)	-206.6%	0.4%	-0.5%
PBT	6,570.96	4,245.65	54.8%	16.1%	13.8%
Tax	1,677.00	1,116.47	50.2%	4.1%	3.6%
PAT	4,893.96	3,129.18	56.4%	12.0%	10.2%

Balance Sheet

Particulars	As on December 31, 2021	As on March 31, 2021	As on December 31, 2020
Assets
PPE and Intangible assets	9,255.12	4,691.23	4,534.20
Non-Current Assets	6,134.60	1,613.85	1,547.66
Cash and Investments	18,964.09	19,830.98	19,036.72
Other Current Assets	12,797.29	10,519.18	10,541.24
Total	47,151.10	36,655.24	35,659.82
Equity and Liabilities
Equity	33,246.01	27,956.66	27,413.25
Non-Current Liabilities	3,010.34	1,001.38	1,109.95
Current Liabilities	10,894.75	7,697.20	7,136.62
Total	47,151.10	36,655.24	35,659.82
	All figures in INR millions

	Nos. / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Revenue from Operations, USD M	199.1	182.3	166.8	152.8	146.1	566.0	501.6
	% Q-o-Q growth	9.2%	9.3%	9.2%	4.6%	7.4%
Revenue	% Y-o-Y growth	36.2%	34.0%	27.3%	20.3%	12.9%	12.9%	4.3%
	Revenue from Operations, INR M	14,917	13,512	12,299	11,134	10,754	41,879	35,658
	% Q-o-Q growth	10.4%	9.9%	10.5%	3.5%	6.7%
	% Y-o-Y growth	38.7%	34.1%	24.1%	20.2%	16.5%	17.4%	5.9%
Business Offerings Revenue Mix	Description / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Services	86.7%	87.5%	86.9%	85.1%	81.9%	83.4%	79.6%
	IP Led	13.3%	12.5%	13.1%	14.9%	18.1%	16.6%	20.4%
	Total	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
	Description / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	BFSI	32.2%	30.7%	30.8%	30.1%	29.5%	30.8%	29.5%
Segment	Healthcare & Life Sciences	20.7%	21.2%	20.5%	19.3%	19.1%	19.3%	18.9%
Revenue Mix	Software, Hi-Tech & Emerging Industries	47.1%	48.1%	48.7%	50.6%	51.4%	49.9%	51.7%

	Description / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	North America	79.2%	78.7%	78.9%	79.2%	81.1%	80.8%	81.0%
Geography	Europe	8.3%	8.8%	9.5%	10.0%	8.8%	9.2%	9.5%
Revenue Mix	India	10.9%	10.5%	9.8%	8.9%	8.6%	8.4%	7.4%
	ROW	1.6%	2.0%	1.8%	1.9%	1.5%	1.6%	2.1%
	Total	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
	Description / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
Revenue	Top 1	17.5%	16.9%	17.0%	17.9%	18.5%	18.4%	22.0%
Concentration	Top 5	36.1%	35.8%	36.5%	36.4%	37.8%	38.7%	43.2%
	Top 10	45.0%	45.4%	46.7%	46.3%	47.0%	47.7%	51.7%
	Description / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Global Development Centers	31.4%	30.4%	31.4%	30.4%	30.5%	31.8%	31.5%
Revenue by Delivery	India	55.3%	57.1%	55.5%	54.7%	51.4%	51.6%	48.1%
Centers	IP Led	13.3%	12.5%	13.1%	14.9%	18.1%	16.6%	20.4%
	Total	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

	Nos.	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
Clients Billed	Services	625	596	568	558	530	722	653
	IP Led	122	130	132	140	142	239	257
	Nos.	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
Client Engagement Size	Large > USD 5M	24	22	21	17	17	17	11
	Medium, USD 1M to USD 5M	90	84	76	66	65	66	61
	Nos.	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Technical	15,721	14,657	13,833	12,706	11,533	12,706	9,835
People Numbers	Sales and Business Development	294	296	308	273	277	273	263
	Others	974	926	763	701	628	701	534
	Total	16,989	15,879	14,904	13,680	12,438	13,680	10,632

	USD / Per Person Month	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
Linear Revenue Per Billed PM*	Global Delivery Centers	16,043	16,544	17,004	16,603	16,790	16,851	16,987
	India	4,252	4,307	4,286	4,203	4,204	4,250	4,428
	%	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
Attrition Rate	TTM Basis	26.9%	23.6%	16.6%	11.7%	10.3%	11.7%	14.3%
IP Led	Nos.	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	IP Led Person Months	3,911	4,000	3,918	3,546	3,606	15,076	17,954
DSO	Nos.	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Days	58	55	54	55	57	55	65

	Description / Nos. / %	Q3FY22	Q2FY22	Q1FY22	Q4FY21	Q3FY21	FY21	FY20
	Billable Person Months	35,938	33,212	30,807	28,670	25,342	99,264	81,287
	Global Delivery Centers	4,519	3,840	3,480	3,345	3,104	12,595	11,202
	India	31,419	29,372	27,327	25,325	22,238	86,669	70,085
	Billed Person Months	29,819	27,503	24,676	22,686	20,530	79,357	63,820
Efforts and Utilization Mix — Linear	Global Delivery Centers	3,891	3,354	3,080	2,794	2,651	10,687	9,305
	India	25,928	24,149	21,596	19,892	17,879	68,670	54,516
	Linear Utilization
	Blended	83.0%	82.8%	80.1%	79.1%	81.0%	79.9%	78.5%
	Global Delivery Centers	86.1%	87.3%	88.5%	83.5%	85.4%	84.8%	83.1%
	India	82.5%	82.2%	79.0%	78.5%	80.4%	79.2%	77.8%