• Q4 performance drivers: A 1.9% sequential constant currency revenue decline was driven by broader market volatility and delayed ramp-up of a mega deal announced in February, which is now expected to ramp up in Q1.
• Sectoral growth outlook: Management expects growth across South Africa, Europe, EMEA, BFSI, manufacturing, and consumer services, whereas TMT and healthcare and life sciences remain weak to muted.
• Hiring and AI: AI adoption will not impact agile decision-making, though overall hiring will remain muted with fresher intake experiencing the largest impact compared to resilient mid-level demand.
• Client concentration strategy: Concentration risk has decreased for eight consecutive quarters, supported by a CEO-led initiative focused on onboarding new, large clients to build continuous revenue streams.