Our financial solutions and technology businesses delivered yet another quarter of double digit growth. Similarly, services such as testing, technology infrastructure management and enterprise application services grew ahead of the overall growth rate.

The results for the third quarter (October-December) signal the next phase of growth. Revenue from IT business at $473 million (Rs.21.2 billion) was ahead of the guidance figure of $463 million (Rs.20.6 billion) projected in October.

Looking ahead, the prospects for growth looks exciting, ... We exited the quarter ended September 2005 with the strong tailwind of business momentum. The challenge we have is to sustain and build upon it.

We understand how to build and manage businesses that involve technology, engineering, and people at a large scale on a global platform.

We believe this combination of excellence in operations and strong execution of our strategy is critical to achieve our vision. We will continue to focus on both in future as well.

Though delivery of superior solutions to our customers and creating sustainable value to the shareholders remain unchanged, we are devising strategies in anticipation of challenges and opportunities to focus on execution for higher operating productivity.