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” Tyagarajan Thanks, 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.
With consistent implementation and investment, we are winning client engagements and creating a clearly differentiated business model that will help drive sustainable growth beyond 2012. The five key elements of this growth strategy are, first, guide global enterprises to best-in-class through our proprietary Smart Enterprise Process framework that delivers improved outcome for them.Second, investors and those started at vertical industry and horizontal domain expertise. Third, combined data analytics and process expertise to create meaningful insights. Fourth, expand geographically in terms of both market and delivery capability. And finally, add new capabilities through acquisitions. I will now discuss these elements and give examples of how they work for us this quarter. First, guiding the enterprise to best-in-class through our proprietary SEP framework. Our clients get focused on adjusting their business and operations to the new normal, they tell us that they’re looking for partners who can help them with a number of challenges, including migrating their businesses to a more valuable cost structure, seeking innovative solutions to help them balance the challenges of lower growth in developed economies and capturing higher growth in emerging markets, and driving a comprehensive agenda of transformation to achieve all of this. In each of these cases, the key differentiator is delivering better outcomes and effectiveness not just in the services we manage for the client, but across the clients entire delivery footprint. All this leads to deeper client relationships over time and a much bigger impact for them. As an example, in the first quarter, we established a new client relationship with a large global pharma major, based on our demonstrated expertise and differentiated approach in improving effectiveness and delivering outcomes. We use SEP to build a roadmap to take them on a journey to best-in-class, including assessing the health of their finance and procurement processes globally, and building an operating platform to support future rapid growth. Based on our extensive knowledge of the pharma industry and process expertise, during the assessment phase we were able to significantly expand the engagement into running the full range of finance and procurement processes. Read the rest of this transcript for free on seekingalpha.com