• MHP acquisition deal: TCS is set to acquire around 100% of Porsche AG's IT consulting subsidiary, MHP, for an enterprise value of around 320 million euros, alongside a 5-year strategic partnership valued at about 1.25 billion euros.
• Margin dilution outlook: MHP currently operates fully on-site with margins of around 10%, which TCS expects will cause a short-term margin dilution of 50 to 60 bps at the TCS level before offshore capabilities drive margin improvements.
• Long-term revenue target: Management anticipates at least double-digit year-on-year growth driven by synergies and aims to scale the unit into a billion-dollar business within three years.