We had good wins this quarter. We won five large deals, one transformational deal. Two of the five large deals were more than $500 million, including (REBIT). It’s a strong quarter for large deals. Growth has been all around this quarter. We have seen the non-top 25 grew by 4.9%, which means that the broader base of clients grew this quarter.
Attrition has come down from what it was four quarters back. In Q3 of FY ‘11 we had attrition of 17.4% and this Q3 we have attrition of 15.4%. So, there is a 2% drop in attrition on a quarter-on-quarter basis from last year this quarter to this quarter. Our product and platform strategy is working well. We have $300 million of booked revenue, TCV in the pipe, and multiple deals. Finacle is also doing well. We had 10 wins this quarter. We have -- as I said we have signed multiple large deals.
Now, in this background I also want to give a color on the environment. The environment is definitely volatile. It is challenging. It is challenging for our clients. There is overall uncertainty in the market. The European crisis, the unemployment in the U.S., lack of political will to quickly sort out some of these issues in the coming election year, and downward trend in growth in emerging markets. All of these are concerns for our clients and they definitely have less visibility about their future. They are not confident about taking decisions and that is being reflected in the velocity of decision making, velocity of business. There is marginal downturn in the velocity of business from the beginning of Q3 to the end of Q3.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV