Please note that some of the matters we will discuss today are forward-looking. These forward-looking statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those in such forward-looking statements. Such risks and uncertainties include but are not limited to general economic conditions and those factors set forth in our press release and discussed under the risk factors section of our annual report on Form 10-K and other SEC filings. Genpact assumes no obligation to update the information presented on this conference call.
In our call today we will refer to certain non-GAAP financial measures which we believe provide additional information for investors and better reflect the way management views the operating performance of the business. You can find a reconciliation of these measures to GAAP as well as related information in our news release on the Investor Relations section of our website, Genpact.com. Please also refer to the investor fact sheet on the front page of the IR section of our website for further details on our quarter results.
With that, let me turn the call over to Tiger.
NV “Tiger” TyagarajanThanks, Shishir. Good morning, good afternoon, and good evening, everyone, and thank you for joining us on our call today. Genpact had a great first quarter with more than 30% growth in both revenues and adjusted operating income. The market environment overall is stable with increasing interest in long-term transformative business process management engagements. We are seeing continued strong demand for our Smart Decision Services offering and accelerating demand for IT services. We established 25 new client relationships this quarter, up from 16 in quarter one of 2011. These results were in line with our expectations and a great start to the year. We have evolved our growth strategy over time, and I want to talk about our results in the context of the key elements of this strategy.