I welcome the members to the 45th annual general meeting. Hope all of you are safe and in good health. This meeting is being held through video conference in accordance with the circulars issued by the Ministry of Corporate Affairs and SEBI. Members participating through video conference are being considered for the purpose of quorum as per the circulars issued by the MCA and section 103 of the company's act 2013. We have the requisite quorum present through video conference to conduct the proceedings of the meeting. Therefore, I call this meeting to order.
Before we start the main proceedings of the meeting, I request my colleagues on the video conference to introduce themselves. Nathan.
Hi, this is Nitin Paranspe. I'm the vice chairman and independent director of your company and I'm calling in from the Netherlands.
Good evening. Hi, I'm Salil Parekh, CEO and managing director joining in from Mumbai. Welcome to the 45th annual general meeting. I hope all of you are well.
Sundaram, you're on mute. Sundaram.
Hi. Good afternoon. This is Sundaram, lead independent director and the chairperson of the nomination remuneration committee and risk management committee. I'm joining the meeting from Mumbai. Thank you.
Good morning, good evening. This is Michael Gibbs, independent director. I'm the chairperson of the stakeholder relationship committee and the cyber security subcommittee. I'm joining this meeting from Houston, Texas in the USA.
Hi. Good evening. I'm Bobby Parikh, independent director. I'm the chairperson of the audit committee of the company and I'm joining this meeting from Mumbai.
Hello. This is Chitra, independent director and chair of the ESG committee joining from San Francisco, California.
Hi, this is Gopichand, independent director and chairperson of the CSR committee joining in from Mumbai.
Good evening. I'm Elen Poier, independent director joining in from France.
Hello and good evening. This is Diane Jurgens. I'm an independent director. I joined the board in April and today I'm joining the AGM from Greece.
Hi, good evening. This is Jay Sangrajka, chief financial officer. I'm joining in from Bangalore. Thank you.
Hi, good evening everyone. I am Manikanta, company secretary of the company joining in from Bangalore. Thank you.
Apart from them, we also have key executives and senior management joining from their respective locations. Statutory auditors and secretarial auditors have also joined this meeting. The company has taken all feasible efforts to enable members to participate through video conference and vote at the AGM. I thank all the members, colleagues on the board, auditors and the management team for joining this meeting over video conference. I now request Manikanta, company secretary, to provide general instructions to the members regarding participation in this meeting.
Members may note that this annual general meeting is being held through video conferencing in accordance with the company's act 2013 and circulars issued by the Ministry of Corporate Affairs and SEBI. The notice of the 45th AGM and the annual report for the financial year ended March 31st, 2026 have been sent electronically to members whose email addresses are registered with the company or with the depositories. Physical copies have been sent to members who requested them. The company has also sent a letter to shareholders whose email addresses are not registered, providing a web link to the annual report on the company's website. The facility for joining through video conference is available on a first come first served basis. A webcast facility is also available on the company's website. The register of directors and key managerial personnel, register of contracts, and other documents mentioned in the AGM notice have been made available electronically for inspection. Members seeking to inspect any documents can send requests to
[email protected]. As the AGM is being held through video conferencing, proxy appointment is not applicable. The company has received requests from a few members to register as speakers. The floor will be open for those members to ask questions or express their views once the chairman opens the Q&A session. Members can also post questions on the ask a question tab before 4:30 PM IST. The company reserves the right to limit the number of members asking questions depending on time availability. The company has provided the facility to cast votes electronically on all resolutions. Members participating who have not yet voted will have an opportunity to cast votes through the e-voting system provided by NSDL. Members may note that this AGM is being recorded. Please do not disclose any sensitive personal information. Thank you. I now request Nandan Nilekani, chairman, to address the shareholders.
Dear shareholders, welcome to the 45th annual general meeting of Infosys. On behalf of the Infosys Board of Directors, I appreciate your support for the company and thank you for taking the time to join us today.
Fiscal 2026 has been a year of disciplined execution and resilience for Infosys. Even as the external environment continues to evolve, we delivered US $20.2 billion in revenues, growing 3.1% in constant currency while maintaining a strong adjusted operating margin of 21% and generating US $3.7 billion free cash flow, which is 112.6% of net profit. This is the second consecutive year we have generated free cash flows of more than 100% of net profit. Large deal TCV for fiscal 2026 was at US $14.9 billion with 55% being net new. This reflects the strong trust our clients have in us and relevance of our strategy.
For fiscal 2026, the board has recommended a final dividend of Rs 25 along with an interim dividend of Rs 23 already paid. Total dividend is Rs 48, an 11.6% growth year on year. The total payout for FY26, including the recently completed buyback, will be 113.9% of free cash flow. We have returned 82.1% of free cash flow cumulatively for two years under the capital allocation policy.
Nitin Paranspe has been appointed as vice chairman effective April 30, 2026. The board also appointed Diane Jurgens as an independent director effective April 22, 2026 for three years, and approved the reappointment of Elen Poier for a second term of five years from May 26, 2026 to May 25, 2031. Both have been approved by shareholders via the postal ballot.
On the business front, the industry is going through a major technology transition. Given that AI is a much larger and disruptive technology transition than ever before, the questions about our relevance are louder and the doubts more insistent. The existential question being asked is: if coding becomes automated, then why are we needed at all?
Now more than three years after GenAI's launch, Infosys is more relevant than ever before and well positioned for the decade ahead. While we embrace the best coding tools and improve our productivity, there is much more to do in the software development life cycle. Enterprise context is paramount. Solutions must complement existing investments. They demand rigorous testing, resilient architecture, and foundational cyber security. Data governance must reflect an organization's own obligations, not the convenience of any external platform or provider.
The AI deployment gap in large enterprise clients is real, and closing that gap is where the work is. AI will not replace companies like ours. It will amplify those who move with purpose and adapt with speed. The AI revolution has made legacy modernization urgent. Clients are moving to retire technical debt accumulated over decades. The preference will be to build versus buy for software. All this creates even larger opportunities for us.
The defining opportunity lies in integrating intelligent AI systems with mission-critical enterprise platforms. The greatest value will come from combining models and agents with traditional transaction systems. That convergence is where the next wave of opportunities will emerge. Our clients trust Infosys to help them navigate the complexities of enterprise AI. We are already collaborating with 90% of our top 200 clients on their AI journeys.
The strategic investments in Infosys Topaz position us well to guide our clients. Combined with the cloud strength of Infosys Cobalt, we are enabling clients to scale AI with speed, confidence, and enterprise relevance. We recently unveiled our AI first value framework to help global enterprises unlock AI value at scale. This positions Infosys to tap into an AI first services opportunity of US $300 to 400 billion by 2030.
We recruited over 20,000 college graduates this fiscal year and ended with a workforce of over 325,000 employees. Infosys was recognized as a global top employer in 20 countries. We have built a strong AI partnership ecosystem spanning compute and cloud platforms, model developers, data and analytics providers, applications and security technologies.
During fiscal 2026, we completed two acquisitions: MRE Consulting Limited in the US and the Missing Link Group in Australia. We also entered into agreements for a joint venture with Telstra acquiring a 75% stake in Versend Group, the acquisition of Stater Global LLC, and Optimum Achieve Holdings. Both latter acquisitions are now complete.
We have achieved carbon neutrality for the seventh consecutive year. Renewables now account for 81.8% of our India operations. Eleven campuses have achieved true zero-waste certification. Infosys Foundation undertook 200 projects in India impacting 7 million lives. We have reached 15 million people through digital skilling initiatives via Infosys Springboard. We have been recognized as the world's most ethical company for the sixth consecutive year.
It is said that to anticipate the future, we should skate to where the puck is going. In this case, the puck is coming to where we have already positioned ourselves.
On behalf of the board, I want to thank our employees, clients, co-founders, and governments for their trust and generous support. To all our shareholders, it is your encouragement that drives us to deliver our best every day. I now request Salil Parekh, CEO and managing director, to address the shareholders. Unmute please. Unmute Salil.
Thank you, Nandan. Good evening shareholders and welcome to the annual general meeting. Over the next few minutes I will share with you some of the highlights of the financial year and what we are looking at as we go ahead.
Financial year 2026 was a strong year for us. We had a revenue of over $20 billion. Constant currency growth was 3.1%, adjusted operating margin of 21%. Very strong free cash flow. Employees now at over 325,000 across the world. We recruited 20,000 college graduates across India and other parts of the world as we continue to scale in this new environment with AI. Our clients with revenues of over $100 million were at 41 as we closed the year.
We have now returned over Rs 55,000 crore over the past two years through the capital return policy, both in the manner of dividends and with the buyback that we completed. This continues with our approach of returning 85% of free cash flow over a five-year period. Our balance sheet remains extremely strong, debt-free, and very liquid with a strong balance of cash and cash investments.
One of the most critical areas we have focused on has been to launch our AI approach within the market. Internally, we have built something we refer to as Topaz and Fabric, which allows us to make very strong AI capabilities available to our clients in partnership with AI companies. We see six broad areas where clients are looking to use AI: AI engineering and strategy, data, process optimization, technology modernization using agents, physical AI in manufacturing, and AI trust covering security and responsible AI. This is approximately $300 billion of addressable market overall from today through 2030.
We are showing actual projects, not proofs of concept, in each of those six areas. Our clients are trusting Infosys with large-scale programs. We help clients move from where they are today to the future which is AI-driven, because we have deep understanding of their enterprise environment, technology landscape, architecture, and data. That domain knowledge is really the value we bring.
We have shifted a lot of our training onto AI training with more employees certified on different foundation models, coding tools, and compute platforms. We have built our own platform and IP, Topaz Fabric, which allows us to work with any AI foundation model. We have built a very strong partner ecosystem with all the big AI foundation model companies and compute companies.
Approximately 5.5% of our revenue was in AI services, which is approximately $1 billion annualized, and this is growing at a quite fast pace. On thought leadership, we have leadership ratings in 16 areas across these six buckets.
The two big foundational elements of AI are cloud and data. We have built Cobalt over many years with strong capability, partnership, and the ability to use cloud compute platforms. On data, the value for a large enterprise is to take its own data and make it available in models for the company to benefit. We ensure the data is secure and trusted.
Internally, we have driven cost efficiency with automation, pyramid optimization, and productivity improvements, using AI in finance, marketing, coding, and all internal functions. The strength of Infosys comes from a leading delivery organization with excellent training and well-driven teams, now increasingly in multi-service offerings and complex programs. Our brand is recognized as top three most valuable IT services brand globally and one of the fastest growing.
We completed a couple of acquisitions just after the financial year in healthcare and insurance. We want to make sure in areas where we see good opportunity and can scale up, we do more of those acquisitions.
In conclusion, it was a strong execution on the financial year. We have a good AI approach and strategy already starting execution. Approximately $1 billion annualized AI services revenue growing at a very good pace. Very strong AI partnerships. A good stable organization, One Infosys, and continued trust of our clients. Thank you once again for all your faith and trust in us. We look forward to the coming year to be more and more AI-driven into the future.
Thank you, Salil. I now request Manikanta, company secretary, to provide a summary of the auditor's report.
Thank you, Nandan. The statutory auditors Deloitte Haskins and Sells LLP and the secretarial auditor Makarand M. Joshi and Company have expressed unqualified opinion in their respective audit reports for the financial year 2025-26. There were no qualifications, observations, or adverse comments on the financial statements and matters which have any material bearing on the functioning of the company. The statutory auditor's reports on the standalone and consolidated financial statements are available on page numbers 226 and 307 of the integrated annual report. The secretarial auditor's report is enclosed as anure file to the board's report on page number 91 of the integrated annual report. Thank you.
Thank you, Mani. As the notice is already circulated to all the members, I take the notice convening the meeting as read. Before we proceed, I am pleased to bring to your notice that as required under the company's act 2013, the company has provided you the facility to cast your vote electronically on all resolutions set forth in the notice. Members who have not cast their vote electronically but are participating in this meeting will have an opportunity to cast their votes through the e-voting system provided by NSDL. Members may please note that there will be no voting by show of hands. We now take up the resolutions as set forth in the notice. We will open the floor for any questions by members after all the resolutions are tabled. I will now read out the resolutions.
Item number one: adoption of the financial statements for the financial year ending March 31st, 2026, including the reports of the board of directors and auditors.
Item number two: declaration of a final dividend of Rs 25 per share for the financial year ending March 31st, 2026. An interim dividend of Rs 23 per equity share has already been paid.
Item number three: appointment of Nandan M. Nilekani as a director liable to retire by rotation.
Item number four: approval of the proposed amendment to the Infosys Expanded Stock Option Ownership Program 2019 and grant of stock incentives to eligible employees.
Item number five: approval for proposed amendment of the stock ownership program for employees of the company's subsidiaries.
Item number six: approval of the request for reclassification of certain members of the promoter and promoter group to public category. The applicants and persons related to them shall not vote on this resolution.
If any member desires to ask any question pertaining to any item on the notice, he or she may do so now. Members are requested to keep their questions brief and specific. Answers to all questions will be provided towards the end. While members are queuing up, may I request the team to play short videos of Infosys.
When you join hands with a sport, what do you play for? For 10 years, we have played for more. We have played for a billion fans to bring them experiences and closer to the game. We have played for every athlete taking serve with artificial intelligence that changes their game. We played for the sports storytellers with insight that uncovers the finest moments. We have kept playing beyond the court to inspire with icons of a new generation forging their legacy, turning athletes into brand ambassadors. We have played across the globe, under the Melbourne sky, on the red clay, by the historic glass. We have played where history is made. We have shared moments and memories, victories and breakthroughs. And we will keep playing because this is not just a sport. Because when it is love all, the best is yet to come.
Change does not always begin with a big idea. Sometimes it starts with noticing what others overlook, feeling what others feel, and asking what can I do. That is what it takes to innovate from the heart.
India is home to countless communities, places, and challenges, and social innovators today are stepping in with solutions shaped by what they have lived and more importantly by the empathy they feel for others. And that is what innovation from the heart is really all about.
At Infosys Foundation, we recognize, celebrate, and support these innovations through the Arohan Social Innovation Awards. Over three editions, Arohan has helped more than 30 social innovations grow, each one making life a little better, a little fairer. In its fourth edition, the journey continued with more voices, more hope, and more heart, and a total prize of Rs 2 crores plus mentorship and incubation. We went into the heart of India and what came back was incredible: over 265 innovations from all 28 states, each one rooted in the struggles people face.
Thirty innovations made it to the shortlist. Each one shaped by bold thinking and the courage to solve real problems. Proof that when empathy guides action, change becomes real, one idea at a time. To choose the winners, our jury looked for three things: is the problem real? Is the solution strong? And is the heart behind it steady?
The few startups which came today and yesterday showed us the depth of the work and the passion they are bringing in to make the change much more effective and efficient at the same time affordable. The solutions that click the most are the simplest ones, but it is 1% the idea and 99% implementation for success. What is also important is innovation being part of these solutions, use of technology, because all of this will ensure that these solutions are not only scalable, they are accessible, and affordable. There has been a range of entries this year across education, healthcare, and environmental sustainability. The quality has been very high and I have been very impressed with the diversity of innovation. More importantly, we saw the right mix of folks who are doing it primarily for social good. At the same time, there are today social innovators emerging who are running both for-profit and not-for-profit versions of their social enterprise.
Infosys Foundation believes in technology with purpose and in people who care deeply. Arohan lifts those voices and helps them reach the last mile where change truly matters.
When you join hands with a sport, what do you play for? For 10 years, we have played for more. We have played for a billion fans to bring them experiences and closer to the game. We have played for every athlete taking serve with artificial intelligence that changes their game. We played for the sports storytellers with insight that uncovers the finest moments. We have kept playing beyond the court to inspire with icons of a new generation forging their legacy. We have played across the globe, under the Melbourne sky, on the red clay, by the historic glass. We have played where history is made. We have shared moments and memories, victories and breakthroughs. And we will keep playing because this is not just a sport.
Dear shareholders, thank you for joining our 45th AGM today and for taking time to participate in the proceedings. Before we go live with the Q&A, here are some points to note for your convenience. When your name is called and you are projected on the screen, please mention your name and location from where you are joining, and proceed to ask your question. Each shareholder will have two minutes for questions. To avoid repetition, the board will respond to all questions at the end. Once you have asked your question, you can switch to watch the proceedings. The board will be taking questions from shareholders in two or three sets depending on the number of questions on video. With that, I will request the first shareholder, Mr. Dharov, to proceed with the question.
Namaste and greetings to respected chairman, board members, and all the stakeholders of our company. It is indeed a privilege to attend this meeting. My name is Dharov Vipul Jamadar from Surat, Gujarat, a proud shareholder of our company. Firstly, heartiest congratulations to all the stakeholders for such a robust performance consistently year on year. Respected sir, individually these are some very challenging times which not only our company but the whole industry worldwide is going through. Externally there exist some anxiety which questions our very existence, but investors will have to have some patience as Rome was not built in a day. We will create a competitive moat in the coming times like we have always done. So I fully understand and support my company in these daring and adrift times.
Certain questions which I would request our respected chairman to address are: First, last year despite many disruptions we ended up the FY with an all-round robust performance, but the industry as a whole is either growing negatively or in a lower single digits range. Have we gone past those glory days when there was double-digit growth rate? Are there any signs that the industry is coming out? And in order to regain past glory, do we need something very path-breaking even in terms of our margins and ROCE? The path looks a bit hazy as even during such times when our currency has been persistently and significantly depreciated, we have not been able to convert those into margins expansion and increasing our ROCE. What are your views on these three aspects?
Second, there have been disruptions of all kinds from technology to geopolitics. Each sector is getting severely impacted. Turning to geographies and industries, which geography and industry will be the most stable and grow at a robust pace, and which one will be facing the most disruptions in the coming times?
Third, in regards to global and national level macros which are turning dynamic and volatile: El Nino happening this year, fear of economy entering a higher interest rate cycle, rising inflationary pressure, highly volatile energy prices, currency persistently depreciating. How do you see an uptick in public and private capex for IT services? Which counter of deal wins matrix will experience maximum growth and which one will see drag?
Fourth, our free cash flows and ROCE have...
Always been industry-leading. But can you please elucidate on how are we planning to fund or exploring segments like AI, data centers, quantum computing, and much more, as it requires lots of capital and worldwide companies are raising lots of debt via leveraging. Will our growth or future funding of growth be highly leveraged, and how will our capital structure look like? What will be its impact on our dividend distribution policy and ROCE? Fifth, supposedly due to our large size, we are unable to transform or we take a bit more time and expand at a significant rate in AI. Will it be wise enough to somehow invest in global AI giants or even take M&A routes? Kindly share your views on the same. Lastly, our nation has lately secured many FTAs with many developed nations worldwide. We already exist in many developing as well as developed nations globally. How do you believe a company like us will take advantage? Furthermore, if you were to ask for some new relaxations or regulations for our industry from the government, what would they be? Thank you, sir, for providing this opportunity. It's an honor.
Thank you, Dr. Daro. We'll move to the next shareholder, Mr. Vipul Kumar Sha. Mr. Vipul, kindly go ahead and ask your question.
Yes sir, we can hear you. Please go ahead.
Yeah, good evening to chairman, sir, board of directors and my fellow shareholders. My first question is regarding the extension of tenure of our CEO Mr. Salil Parekh, who has done a wonderful job since last so many years. If I am not mistaken, his term is coming for renewal next year. So is the board seized of the matter? Is the board considering extension or is the board looking for any other candidate? This is an overhang of the company which needs to be cleared as early as possible. So I would request you to air your views. My second query is regarding guidance we give since decades. I am a shareholder since IPO. Of course, the intention is noble, but it has unintended consequences like too much volatility in the stock prices for minor bits or minor misses in a particular quarter where one contract revenue may slip into another quarter. So I would request the board to seriously reconsider whether guidance is necessary. According to me, guidance should be scrapped, because our larger peer is not giving any guidance and I find that volatility in their stocks after results is generally less. So this is just my own view. So I request the board to consider this matter as well.
And second, what was our revenue contribution from AI-related offerings for last financial year, and what type of growth we should expect from those offerings, and what is the margin difference between AI-related services and normal services? That is my third query. And lastly, on Analyst Day our chairman sir Mr. Nandan Nilekani in his opening remarks made one very interesting comment which I found very interesting — that in AI world, opportunities are endless, only risk is execution. So I would request the sir to elaborate on his comments and how we are moving in that direction. Thank you and all the best, sir.
Thank you, Mr. Vipul. Now I'll request the next shareholder, Santosh Kumar Saraf sir, kindly go ahead and ask your question.
Mr. Santosh.
Hello. Good afternoon chairman and board of directors and also those attending. I am Santosh from Kolkata.
Yes sir, we can hear you.
Sir, I want to know — Infosys has successfully crossed the $20 billion revenue milestone. What are the top three strategies that will help the company reach $30 billion revenue while maintaining industry-leading margins and creating superior shareholder returns? Sir, that is my one question. Nothing more to ask. I wish for financial year 2027 a great year to all our chairman, directors, and employees — healthy, wealthy, and a good year, sir. I also wish our moderators for good services. Thank you, sir. Namaskar.
Thank you, Mr. Santosh. Now I'll request the next shareholder, Bharat Shah. Sir, kindly unmute yourself and ask the question.
Yes ma'am. Yes madam, we can hear you. Is that Smita Shah?
Yeah. Smita Shah and Bharat Shah, sir.
Yes madam. Please go ahead and ask your question.
Thank you so much, sir. Chairman Sri Nandan ji, MD Sri Salil ji, good work and good nature, always hard workers. Company secretary Manikanta — very good investor service. Best investor service. Excellent performance. Leadership team, new excellent technology. Chairman, excellent. Super leaders.
Chairman Sri Nandan ji, only request sirs — best in service. Respect. Thank you very much, sir. Thank you, sir. Thank you.
Thank you, Smita Shah and Bharat Shah. Now I'll request the next shareholder, Prakash Kriplani.
Yes sir, we can hear you.
Good evening sir. Thank you sir for providing me the platform to speak. Thanks to our secretary department, especially Manikanta sir, for calling me and taking my views. This is my fifth AGM, only due to virtual. So if possible, please follow this virtual format next year also so that more and more investors from different parts of the world could join and express their views, and company could take benefit from their views. Sir, many thanks to you people for increasing our dividend from rupees 43 to rupees 48 on face value of rupees 5. It is a very good distribution. Sir, there is a saying — our share price is falling every day, today it is almost 12-month low. Sir, do you know why it is falling? Because we are not investing in futures and so foreign investors are dumping our shares. Today, the market cap of Google is $4.5 trillion, more than our whole Indian capital market. Sir, today investors are looking for growth, and growth will come from your investment in futures. You can see the growth of Taiwan and South Korea — these two small countries' capital market cap is more than our country's capital market cap. It is only due to investment in futures. Sir, it is a wakeup call not only for our company but also for Government of India. Government is investing huge money as well as man hours in conducting AI — it should invest in skill development. Sir, today investors do not like buybacks. You can see the position of our company shares after buyback. Sir, you people had destroyed rupees 1,800 crore on buyback. At the time of buyback, I sent three mails for rectification. If you had followed my suggestions, our capital could have been reduced up to 80%. No long-term investors including promoters benefited. Sir, I respect you very much — you gave Aadhaar to our country, which is today used widely in DBT schemes. You gave new software to our income tax department. Sir, please invest in futures. Please invest in skill development. Infosys is my company and so I am always thinking for its betterment. At last, please maintain your smile and be cheerful. We are always with you as long-term investors. Thank you, sir.
Thank you very much. Thank you, Mr. Om Prakash. Now I'll request the next shareholder, V. Ramkumar. Mr. Ramkumar, kindly go ahead and ask your question.
I'll move to the next shareholder, Din Dayal Bhatia. Mr. Bhatia, kindly go ahead and ask your question.
I'll request the next shareholder, Krishnalal Shah. Mr. Krishnalal, if you are on, kindly go ahead and ask your question.
I'll move to the next shareholder, Mr. Reddappa Gunduru. Kindly go ahead and ask your question.
Mr. Reddappa.
Hi Mr. Reddappa, we can hear you.
Yeah, am I visible and audible, sir?
Yes, we can see and hear you. Kindly go ahead with your question.
Thank you. Respected chairman Mr. Nandan Nilekani sir, honorable CEO and MD Mr. Salil Parekh, and all other directors, my company secretary Mr. Manikanta, and my fellow shareholders — good afternoon to everyone. Namaste, sir. Sir, myself Reddappa Gunduru, and I am joining this AGM as a proud shareholder from Hyderabad. First of all, I would like to congratulate the chairman, the board, management team, and all the employees of Infosys for another year of resilient performance amidst immense global economic challenges and uncertainties. The company is doing very good. The annual report and presentation very clearly reflect the company's commitment to excellence, innovation, governance, and long-term value creation. Chairman Nandan sir, your speech is very wonderful. Your visionary leadership continues to strengthen Infosys' position as one of India's most respected global technology companies. Under your guidance, Infosys has maintained high standards of corporate governance, transparency, and shareholders' engagement. Mr. Salil sir, congratulations to you and your entire team for delivering steady growth, strong client relationships, and operational excellence. The company's focus on AI, digital transformation, cloud services, and next-generation technologies is helping Infosys remain a trusted partner to global customers. I appreciate the company for consistent corporate transparency, world-class corporate governance, ethical business practices, and meaningful CSR activities benefiting education, healthcare, sustainability, and community development. Thanking the company secretary and entire secretary team for ensuring smooth conduct. I would also especially like to thank Mr. Ajay from the CS team — always reachable and providing excellent support.
Sir, I have my questions. First question: what are the company's key growth priorities for the next two to three years, especially in the areas of artificial intelligence and generative AI? Second question: how does Infosys plan to improve revenue growth and deal conversion in the current global economic environment? Third question: what opportunities does management see from increasing digital transformation spending by global enterprises? Fourth: can management share the outlook on employee retention, talent development, skill development, and emerging technologies? Final question: is the company considering any new strategic acquisitions to strengthen its capabilities in AI, cybersecurity, and cloud services? Thank you, sir. Before I conclude, once again congratulations to the chairman, board, management team, and all employees of Infosys for outstanding efforts. I support the resolutions placed before the meeting. I wish Infosys greater success, continued growth, and continued leadership in the global technology industry. Sir, finally, we have faith in Salil sir, faith in Nandan sir, and all the board of directors. I pray to God to give more wisdom, strength, power, and peace to the entire board of directors and company secretary. Thank you for giving this chance to me, a proud shareholder from Hyderabad.
Thank you, Mr. Reddappa. Now I'll request the next shareholder, Mr. Bharat Raj. Mr. Bharat Raj, please go ahead and ask your question.
Yeah, very good evening, Mr. Chairman, board of directors. I'm from Hyderabad. Sir, I'm very happy with the journey in my company, around about 75-77 years. I hope you'll come to the 10 years also. Thanks for the dividend. Sir, my request — under your leadership we never received any bonus. Can your bonus from your leadership, sir? Only bonus to CEO, but I never received one bonus. So please consider one bonus, liberal bonus. Sir, what are your plans regarding — as recently your price has come down 10%? So how do you face the challenge, sir? The global market is totally changing now — ChatGPT, a lot of issues are coming. So how do you sustain in the coming market? That is my only request, sir. I thank Manikanta sir for sending me the link. I request him to put me in front. I'm traveling, I'm present at the airport. Thank you, Mr. Manikanta, for giving me this opportunity and sending the link. Sir, once again, Mr. Nandan, I request you one more thing — when I requested you to visit, you had sanctioned it, sir. Now it is a physical AGM — at least a campus visit for all shareholders. Please arrange a Mangalore campus visit so that we can go and see. That is only the request from this shareholder. Thank you once again, you take care. I'm signing off from Hyderabad.
Thank you, Mr. Bharat. Now I'll request the next shareholder, J. Abhishek. Mr. Abhishek, kindly go ahead and ask your question.
The next shareholder — Mr. Sham Sundari. Sorry, P. Sham Sundari. Please kindly go ahead and ask your question.
Yes sir, we can hear you.
Good evening, sir. Am I audible?
Yes sir, we can hear you. Please go ahead.
