• AI revenue traction: AI-led services grew to 8.2% of total revenue with consistent double-digit quarter-on-quarter growth, supported by over 80,000 employees actively utilizing AI tools and the proprietary Topaz fabric platform.
• Guidance and deal pipeline: The revenue guidance range was moderated due to uneven macroeconomic conditions and softer volumes, though supported by $3.6 billion in large deal TCV with 61% net new wins, including $700 million from six vendor consolidation deals.
• Margin outlook: Infosys maintained its 20% to 22% operating margin guidance band for the fiscal year, expecting Project Maximus efficiencies and currency tailwinds to offset headwinds from phased compensation hikes in October and January.
• Sectoral performance: Financial services, energy and utilities, and life sciences are projected to grow faster than the company average, while the retail and communications verticals continue to face headwinds.
• Capital allocation and M&A: The company continues to actively pursue acquisitions in healthcare, life sciences, insurance, and AI service lines, but has formally decided against investing in AI data center infrastructure.