G - Earnings call transcript Q1 2022

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Operator

Good day, ladies and gentlemen. Welcome to the 2022 First Quarter Genpact Limited Earnings Conference Call. My name is RJ and I will be your conference moderator for today. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. The replay of the call will be archived and made available on the IR section of Genpact’s website. to Investor call Relations like Sachs, to now of Head at would turn over the Roger I Genpact. Please proceed.

Roger Sachs

agenda Thank Chief will an our of on posted quarter CEO Tiger are Tyagarajan, discuss Today’s will come first as afternoon, President and initiatives, earnings our will was outlook XXXX. you, you everybody, and will IR an be review XXXX. had for full of you back our for call take on welcome well good and to earnings then RJ, release, Tiger financial a year Tiger to as our Mike We your chance and provide hope call as the results the ended provide then on quarter results our then walk to today’s section follows: the Mike through for March XX, Financial closing our Weiner, strategic our will and to and thoughts for the which comments, website, some Officer. genpact.com. we Speakers our overview update questions. our performance current our

We to an last hour. expect about call the

Such matters press a and factors actual our are today’s discuss will looking and risks uncertainties differ materially and in forward to results are forth release. such involve Some in statements. that in the number of forward-looking uncertainties we risks, cause set of call other could those from

performance to business. that way the today, the call of believe understanding our during refer operating information certain views financial addition, will enhance the our management we In to non-GAAP provide additional we measures of

in And over to IR a let turn with reconciliation section of of call GAAP today’s release earnings posted website. find the Tiger. the You that, me our to these measures will to

Tiger Tyagarajan

joining you, diluted and adjusted expectations. top a coming Good EPS, thank the call. in XXXX ahead quarter everyone, income start earnings Roger. initial margin for adjusted of great operating today with line We you growth, had afternoon, our our us for to first and Thank year all

well Our transformation to well environment. investments in continued strong up business. us many the navigate and We positioned make in as analytics, demand strength macro quarter in for and clients challenges help that businesses another services consulting of saw as our Intelligent our strategic choices our data digital have this Operations

share continues first the fourth $X.X basis. talent hot revenue we disruption currency on of energy up few. year-over-year. $X.XX, per basis Global diluted in with high, constant $XXX macro adjusted XXXX, market margin Ukraine/Russia income For a XX-year XX Client million a basis, of quarter spike revenue to quarter on and delivered XX% of total XX%, a the prices, up constant and X% expanding name earnings the up The from billion, challenging just currency massive award operating environment points to a supply inflation ongoing of to adjusted to rising be a chains, XX%

Our centered Romania, Eastern disruptions. European operational Hungary, has approximately experienced and any delivery employees footprint, X,XXX is with around not Poland which

with company highest and on searches the since healthy first our seeing remains reached every quarter undertake particularly not it last year, back behavior help times. these deals the X, Bookings quarter sole sourced. for transformation XX% needed solutions in to XXXX level being them XX% annuity-based the Client as We’re material also client the business. any saw relates in to global we of momentum change demand as

greater million, than in the quarterly we good environment, $XX While a this don’t contract X banking and value with large typically was This to share. share bookings, capital color both engagements total given thought we the on markets signal included industry.

a a new robust XXXX. during an clients and quarter clear we of reached with the our this solutions highs, the market average per basis, and value up businesses quarter indication of our proposition the Client addressable XX and in performance that which also revenue of inflows all-time Client on XX% year-over-year Transformation XX% differentiated clients, was quarter represents is and analytics, end Services, grew for new total make total coupled led Global currency up now from During added our from XX% by year-over-year consulting quarter, our constant Both expansion of XX services. up digital bookings pipeline revenue. and momentum, continued strong Global

in broad-based recent On Global the of back Client including of and health the from and up GE represented care, revenue. in double-digit Intelligent growth Revenue X% markets our first XX% high-tech, Global insurance. verticals, and Operations businesses quarter revenue chosen total and deal was wins, ramps was across sciences consumer life growth our X%. and retail, from all Client grew banking goods capital

that last transformation quarter companies consulting services like mentioned these to believe just independent our spin-offs. lines new with to we these service learning the management, work into Transformation chain support supply that and significant the for provides GE’s up actions first of cost outcomes that data in make across of drive and were and deliver our importance then these and opportunities We In lines, in that these productivity. analytical to AI, specific by service analytics, strong quarter, to we to complex operations, beyond dynamic Services, the Together, each insights. momentum up pipeline. and XX% three times fueled four financial clients’ agendas and sets areas, the continue expansion seeing insights then in commercial cloud their is in separation underpins digital process models of meaningful use X business we machine and Demand build the win leverage technologies us we financial risk planning sales are As analysis. being crimes drive

customer regulatory banking financial leveraging compliance financial and are our example, For and the solutions, provided we to enhance technology-based experience cloud-based by in and AI crimes crimes well our as clients. our as solutions risk, digital

and traction providing large two referenced deal was they management seeing by risk scale we wins where deal with fintechs as We critical This helping highlighted fraud their I age with are customer earlier. around operations to also the new and are issues great grow. them

of our growth and banking is All this markets driving vertical. in capital

very Our business XX% Client healthy Global Analytics grew year-over-year. a

how of data examples are helping decisions we and few use a analytics clients provide outcomes. improved me strategic for Let delivering and

are with data improve brand its online We large physical and its a models for to to consumer by significantly and metrics building quality inventory key channels working luxury performance aligning levels. optimize goods

client’s team Additionally, consumer our to helping experience to Rightpoint updates providing e-commerce growth up elevate by experience to is to by improve e-commerce marketing XX%. websites product on the

minimize company, insurance and developed assess external prioritize global both opportunities. AI and risks model machine and that to large be to and an a accurately For to policies quickly internal leverages learning we data lost underwritten

clients’ days for hours low to expected the is from to significantly reduces drive an the response and solution incremental client. times Our double-digit growth

a by global For to levels to create client’s This data led share analytics personalized vast complex of sporting improving consumers, and increasing we profitability. demographic learning data and market models, amount while machine build a the with large leveraging consumer and their determine direct-to-consumer engagement best price, an transaction goods the team. promotion inventory brand, is assortment Enquero solution

of drive these and that impact other productivity solutions across All tangible are clients. beyond cost replicable just

in of we deeper continue alignment on driving our creating models clients. pricing instead FTE-based see based commercial We strategic alone, outcomes deliver with that to momentum

these deep with technology and with solutions value teams data industry add deploy specific digital to expertise clients times. experts and scientists our to that bringing are functional in We domain together our

and we and developed have marketing X strategies supplier consolidation, prioritization accurate more and pricing all the optimization real-time and and to inflationary drive a to sales health. services clients and and leveraging procurement, These specific environment, and help in supply analytics In and examples. are solutions, of their demand supply proactive promotion sourcing bolster Here suite response actions financial chain and solutions data forecasting. include dynamic to

its cybersecurity of business for fill global planning operations month, has are companies delivery given our geographic And most talent diversification the we and As with war the Russia-Ukraine clients critical war roles. creative left to ways entered on searching model. thirdly, continuity third for importantly, issues, engaging extensive

center grants enable deep practitioners supply financial sought-after and that scientists and have excellence clients Our risk. to including finance workforce as in data management services and areas, chain our also expertise scaled domain access and digital highly in accounting, of global such hubs

this expansion drove our the size client in of All of relationships. a significant global

XX, over the revenue with grew more period Clients $XXX in than from $XXX than with revenue increased with in increased to $XX million million XX. to relationships million XX. XX-month million. of client more March global $XX from XXXX, ending million annual annual we Clients from revenue, to number $X During the XX XX

open solutions to to great relationships client new large passion service are centers be and The bring teams our as to continues dedication them. Our to deliver global faster end-to-end growing our of our buying more the clients central company average success. to and than we up

the changing only critical needed and Our development a investment careers of but skills us helps in-demand with learning not also build access in to provide in talent them the our skills world. their

quarter, a very we almost welcomed in first members reflecting competitive market. XX,XXX team brand talent the the of new Genpact’s During power

the our During completed data and over Genome. employees decision-making hours X platform, leveraging our online learning first data trains our on-demand for be drive was literacy employees of Bridge as includes by training Data program the time. quarter, analytics, This million that that bridge capabilities one also scale program its to largest storytelling generation of actionable clients. IDC recognized an could insight data and recently at industry-leading

talent successfully clients. this trained to newly talent far redeployed the so our have through of we Using our XX,XXX employees platform, certified X,XXX program. than more internal We skilled needs and support match over

new on particularly industries competitive our rate and no our needing two conversion supply attrition line ever. this of With to quarter scale, us with over first is as rate than like see talent quarters. the the or led believe to all critical prior in across in pressures reskill, to partners remained clients hire ability more at the client opportunities. We has reported engagements XX%, Our continue successful we a advantage, at the impact we redeploy

remain we As businesses. our digital analytics our by the robust, and expect through we to led demand continue overall data year,

conversations clients for adjustments continue the call on up possibilities – that, date. We to actively deliver detailed With These to over time more also but of related our first Mike review turn current to and drive are open win-win take for value for to environment our everyone. me engaged and let complex the a clients steady a to win-to-win pricing also make quarter. to outcome are progress inflationary that with

Mike Weiner

revenue, related better-than-expected an in financial both update XX% Client Thank our GE afternoon currency on to GE year the driven Tiger increased was our quarter. ramps. first a was Today, constant everybody. during you, due up well project Total last on a largely the that constant short on basis, XX% XX% XX% year. Services Transformation points or X% full and performance in our billion, Client $X.X for of revenue, XXXX basis up or work first year-over-year of year-over-year, strong and primarily results Adjusted provide primarily increased revenue. I revenue as revenue deal driven outlook. intelligent cycle currency by quarter XX% good growth in demand year-over-year XXX income as XX% basis, a X% by Global operations, which represents was continued review Global operating to quarter financial from down will margin XX%, total and quarter

our of quarter reminder, the basis of margin a was XX.X%. expenses by to of half line resulted XXXX margin businesses. adjusted quarter largely operating R&D adjusted XX planned and reflecting first during higher-than-normal As during The second top operating points the sales income year, investments the better-than-expected travel for quarter certain income our in and the declined strong levels marketing the performance the Gross lower the margin across and deferment impact year-over-year performance driven of primarily from COVID-XX.

XXX quarter. However, points sequentially fourth the increased basis it from

was up marketing investments and was Adjusted points to up $X.XX up latter up the to to the a increase partly $X.XX, XXX and impact scaling EPS dialed primarily we offset lower in to share quarter taxes from was first of impact revenue part largely of year-over-year, largely basis by quarter-on-quarter This operating and made pricing R&D quarter There of of million income. year of expansion related X% $X the results relating to remeasurement FX EPS deal benefit investments lower in recorded slightly impact the first same EPS impact XXXX. of XX.X%, Tiger a significantly of $X.XX material $X.XX, a count, SG&A the in due a adjusted lower million as that last quarter, gains. given the quarter remeasurement adjusted $X.XX due driven year. on referred activity $X.XX gain fourth $X the of the by in our during from earlier. improving was last percentage positive sales FX This in impact lower included year-over-year the no

tax XXXX. lower rate we XX.X%, XXXX of quarter first in in certain last effective fourth new operate in to – compared XXXX Our the year, was due taxes down same the the jurisdictions period primarily of XX.X% from as quarter to

balance cash and Turning to our flow sheet.

million years. During is the from versus use typical quarter, we the first of of operations. in of utilized most $XXX cash generated The cash quarter cash

in million $XX working year as not adjusted the last of same overall capital However, we cash, levels. as typical due higher well outstanding and was income days operating generate which period, did to improved

of quarter, reminder, a As from days days improved days year-over-year compared quarter XX higher XXXX. work outstanding our a of booked higher days the sales during during the On to XX than quarter outstanding short-cycle basis, fourth sales in level benefited first we anticipated. as the to

continue we the at of cash XX-day will pattern, a to equivalents totaled sequentially the of outstanding end we the million exit and compared Cash improve DSOs to in year $XXX $XXX quarter believe as quarter typical range. expect million fourth days high As the XXXX. to each

ratio net and debt to have at ample from quarters opportunities our to Our existing year-end allocation strategy. liquidity on continue our cash execute four X.Xx will capital capacity, for With last balances debt-to-EBITDA growth increased rolling to undrawn management. the cash to X.Xx general pursue relating

preferred debt-to-EBITDA coupon Xx. $XXX range X, to expect million that a We of April the net had X.X%. ratio Xx repaid in remain we of bond On to

the the almost our Given in debt we XX% volatility free. very current fixed pleased is that total of market, are

valuations of of more quarter, bought took share shares cost program shares executed for $XX of our of X.X attractive back the average, regular our on million advantage and we the to During a million total and or repurchases on cadence a $XX.XX.

We paid X%. expenditures $XX was totaling as of approximately dividends also Capital million. a percentage revenue

the remainder to year to in employees the to part range be the with expect as year X.X% hybrid return of spend of full percentage during higher XXXX as the We delivery office of to X% continue the this our approximately model. for

an outlook. you Now with update on year we our full will provide

X% than Given XX%. from are on outlook constant our in of basis. heightened representing growth grow our X% X% expect to XX% X% a prior given we now to between expected we be strong full no larger full outlook headwind February, on revenue X% year an Client currency X%. market total to XX% or to GE range XX% billion, $X.XXX headwind incorporates and $X.X expect Global is to start now of revenue X% year-over-year of in or XXXX prior volatility. prior full year-over-year for up currency approximately year of provided to billion outlook to and our – the in basis, We to XXXX early outlook between X% currency a the constant up on to revenue XX% total expected from growth of for year, There to the XX% a This a decline. currency year a change XX% our basis constant

full our margin fall XXXX of range to XX% continue the within to we expect adjusted Given climate, to XX.X%. the year income uncertain operating

better year remeasurement tightening of strategy range prior from of and $X.XX. will are range. progresses, income with earlier the the in $X.XX share in anticipate the the gains year. this per for for quarter visibility assumptions $X.XX our to adjusted from now to be first expect outlook to medium full our margin expect the This as our increase reflects lower impact operating fully the XXXX repurchases between $X.XX, our We We our end we of related up referred term. outlook, get over FX adjusted earnings in expand we share As to the year line

let that cash of full for flow over year forecast back call to million With $XXX turn the said, from Tiger. XXXX. to continue we me operations Lastly,

Tiger Tyagarajan

Mike. Thank you,

year Our strong relevancy reflects business model market. our start our to and resilient in the the for clients

bolstered Hoodoo critical Our acquisitions digital driving and Digital Enquero and and of for experience capabilities analytics, digital well both clients. and have integrated data our end-to-end areas in transformation

experience, in something canvas and done have supply capabilities. growth have Rightpoint ensuring risk and lines Barkawi service in acquisitions our crimes commerce, targeted focused all and management financial digital chain we other and The and digital fueled

fraud, designing, trusted revenue we choice, in partner made more drive we operational associated in the better overall our the providing industry primarily derived annuity-based can mission-critical for chosen up clients Our cycles. creating of of with challenges The change, and clients compete help markets. of efficiencies customer they verticals. business We can their running clients economic revenue. inventory, increase Whether streams optimizing help is profitability, our experience help more navigate while reducing our operations to employee better a to a from transforming grow so become many

published environmental, highlighting since including and Scope report, of proud progress, global XX% recently We to year a and this XXXX X and Scope on XX governance. responsibility lives XX% XXXX, XX progress for emissions X social the our are gender our second initiatives. reduction learning social We diversity, by employees sustainability of our some in hours a million in our exceeding row million packet in corporate

recognized to to be continue initiatives. for commitment our ESG We

to for thrilled a named requires of ability the been ethical and the Employers most more foster environment XXXX, world’s for We’ve Forbes by sustainable ethical equitable to to diverse, named We employees our commitment partnerships. have a recognizing inclusive is where purpose. been our our the are Best We can of world time, Ethisphere our behavior list also know a building thrive. highest to demonstrating to Diversity aligned level fourth complex company and

our make recognize impact We part to the disproportionate by our will company opportunity do tremendous helping theirs. clients we as but have a do

their own our financial data create like We creating to them strength that a drive environmental sourcing, clients’ while to impact. ESG a knowledge, and responsible in processes our areas our for with journeys, ESG believe just and few. familiarity make across on clients optimization crimes, our about competitive transformation a positive leverage excited and a industry chain can are to advantage is and lever deep social name to analytics supply We also help progress opportunity

Before holding I’m will in Analyst I June an New Day that close, XX. City on excited York we be to in-person Investor announce and

blueprint our there. you We will let the present We be Details to that, outlining success Genpact’s will register to strategic for look available call shortly. me back to financial all turn vision XXXX, forward seeing for and how outlook. Roger. With on

Roger Sachs

please Thank can up to you to open now R.J, your I call instructions. like We’d for you, ask Tiger. the the provide questions.

Operator

first Your Keith Instructions] [Operator you. line Thank comes with of BMO. the Bachman question from

is open. Your line

Brad Clark

Keith. you to taking the I for Brad about question. this Clark for on environment. Thank Hi, my pricing is wanted ask

said year, year You of to to especially you Can discuss you cadence and are inflation the offset other you early this develop throughout first mentioned you discuss to the through push given some the to the of pricing in to saw the margin rest you’re you going And gross would Thank what you. back discuss opportunities expect it’s now some versus conversations? clients impact couple pricing? still pricing. months that quarter in it. next How inflation on wage in relatively to now

Tiger Tyagarajan

then to going So I’ll say. what Mike and to have I’m start off I’ll add

last we quarter then late through So and quarter. started and the just late first fourth quarter then

are Our the understand relationships, we and relationships we our that provide our to clients. with clients long-term value

to very objective opportunity actually these that driving We to conversations, in of the are tackle is value together. of bigger clients clear our many our

hot similar talent market. a clients environment facing and Our similar are inflationary also a

early are the some the allows remarks, And us as That the the able skills inflationary early value on. require year prepared said comment to actually the can that steps we the that. have year. my navigate on The with at that those the comes margin of So an over that time. for us tell and maybe year, that understand Mike, that we to They balance on days. to have deliver needed into And is sit take goals. of the But clients, of that, in we opportunity next down taken conversations. alignment and journey year, you for impact seem the price and be signs we believe they are these will that I also to they an

Mike Weiner

received Yes, move let They’ll year. upon minimis. the pricing Tiger the first as compound carry the relatively into to, quarter forward we in address as lean it the adjustments year me and we de following through themselves that alluded

takes It So a really the – us puts is what on it impact has affect current on no go-forward will obviously potentially, in the quarter. margin a lot – is there basis. no of and

Brad Clark

much. you thank Okay, very

Tiger Tyagarajan

Thank you.

Operator

of Your comes line next question Koning Dave the with from Baird.

Your line open. is

Dave Koning

so back verticals. that returned the I Yes. Hey, little board. it discuss struggle at just all, bit, what but of year, catalyzed sounds And growth. a through good talked growth. year, and guess, kind bit vertical Maybe the you Great to – guys. first of know really about of that across the kind job of last maybe I little looking like BFSI it really a good into first

Tiger Tyagarajan

No.

restructured the great was a And result, relationship that quarter had And as even And with business first that we actually, And off. them. particular tapered Dave, the a that last has of year, impact in that management got said a the one that. had So there tail impact also asset was in that our themselves. XXXX, actually point. year client restructuring of full was felt

banking building the talked quarters up our about in prepared vertical. in even remarks, core had we banking earnings the and last for Our the in couple the is of momentum bookings our in coming through. our in vertical And pipeline growth

beginning laps client see to through that as of impact that – We’re the lap. a undertakes now come restructured full

Mike Weiner

it add we that No, actually lap lap end we I’d at this second not literally. It just to going down like the is fully will of fully the will quarter. to quarter,

basis, third So a be will an apples-to-apples on on and really put quarter. – the fourth complete

So headwind nice us. for

Tiger Tyagarajan

of having compliance lines analytics that globe where world data a a service employee the has in and with the experience good. a situations, as laundering, environment dealing where and the that the and the with Part manner financial we good. talked is thing bring the banking that risk, experience the typically, leverage of across ability other do of compliance deal in would problem the is number institutions we technology, the had world KYC, is we are that say right to to The crimes, just to customer one difference. types leverage regulations environment not in is And those big makes financial anti-money which what is use table really I are as about, the to a to of experience well is technologies,

Dave Koning

Yes. on No, kick kind that’s say and really the be It fair in actually sounds and immediate like like that’s question again. Is pricing with helpful. to usually kind second just there deal pricing to it immediate an just guess later. attrition And gross up when is year-over-year it hits, of as an margins to I by X inflation a when seems gross spikes this then kind is automate lag but of started – comes when is little hit to there all can maybe your the half, when second that this margins again a now starting X-month pressure? of from you in, the

Mike Weiner

Yes.

beginning it it’s think fair mean X will months get to to the adjustments more probably like we first state. the I at start probably as quarter. these I of a XX

would now, compensate it the us dealing than that. expected, accompany we’re with yes, costs So would through flow of some that replacement for higher right there

Tiger Tyagarajan

plays the Yes. we environment have the say is that to I right provide. forward-looking have all getting we clients, that view for haven’t to at therefore, the we the with abated well continue continues how to and and on point And price while services would be thing to cautious in They depends on it inflationary other the because that recognize our out moment. Dave, also work we that, our on

Dave Koning

Got it. guys. well, Yes, thanks job. Great

Tiger Tyagarajan

Thank you, Dave.

Operator

line with from Blair. Your Nolan Maggie next comes question of William the

open. is line Your

Jesse Wilson

We for into We talent on wanted This Congrats to is Hi, the guys. talent. dig the quarter. the Maggie. Jesse wanted environment. into to dig on

about geographies? over talked past guys higher but You are attrition the seeing certain staying this in quarters, you stable two

Tiger Tyagarajan

Yes.

levels reach the the and So levels, not Then, higher skill levels obviously, levels and start the we the lower the it But that actually be at with lower pre-pandemic get stable you fact, of see elevated you attrition more and slice skills of levels, in when pockets, into fantastic. it’s we when leadership a at organization. is skills let’s overall, yet seen XX%. to attrition level, organization levels, to higher leadership have which at different

see in is that. and are over in as whole the and the with then, is that skills. customer we among in we attrition U.S. skill and of have And it continue back has surprise. to a hot be high And attrition the types Philippines and industry and those next I And to us office in was And causes care levels few attrition overall the say, and part the is center geographies come quarter employees all increase into of environments continuing spike leading in angst stability That’s is skills dealing the government’s all to the The call some within in and attrition mandate an of data providers, of months it in no second fourth to seen attrition Philippines, those very complying. of analytics quarter. science up. type special two course, is one for niche their the which the would service in data the sales that niche first technology as

Jesse Wilson

wage then And followed second many quick changed my Understood. inflation How a in on year? have question. the my beginning follow-up by the view your how employees since Philippines? question the of was, Genpact then has And next does

Tiger Tyagarajan

we have strong us. Philippines, It’s for X,XXX a So, center very employees.

I out Eastern where have centers, countries. as some other three not of X,XXX employees we across Europe, including, our big it’s as However, called

They prior quarters skilled few a They skill trend or cohorts Philippines, beginning cohorts almost across to of first all the actually again, Wage X,XXX steady inflation versus down. So, good, are quarters from excellent have three still elevated and company. seem quarter, broadly service in higher down. the the steady, out employees to actually but XXX-odd in plus thousand come very be back. four

haven’t any a where quarter. skill We gone fourth rate seen it’s in the set than particular QX at higher

Jesse Wilson

Awesome. my question. taking Thanks for

Tiger Tyagarajan

you. Thank

Operator

Your line the Citi. with of from Ashwin Shirvaikar next question comes

line Your open. is

Ashwin Shirvaikar

Mike. Hey Tiger. Hey

Tiger Tyagarajan

Ashwin. Hey

Ashwin Shirvaikar

relationships large kick at I you Good pace growing quarter. faster to want company. that. than Congratulations average off the on mentioned with Tiger, a

If you of flow about as large expansions, talk a the remaining do could comment good pretty If could a and few you statement opportunity, on through into seamlessly across sign commonality expectation? these things. those maybe What’s you they Is the relationships. that what’s disaggregate will. you And the that perhaps and quickly revenues? if

Tiger Tyagarajan

Yes, of good there, questions. Ashwin, actually and lots very questions

are characteristics. characteristic So, large number world all grow, not think with enterprises let’s them relationships are are a – do. we driving business more These their and analytics, a leveraging themselves whole change. going that just typically to data things. about they relationships but undertaking of few These enterprises of changing large that become start One, cloud, of are to the technologies, host have that those of that typical And leveraging if journeys are in, are the these enterprises are typically, models, the a these competitive. you transforming

management to have risk are And given strength types banking we X it range organizations they now now deep core promotions in accounting, all be etcetera. financial therefore, dots. sales those insurance. trade the had, supply us already or journeys, financial services in financial and those strength in order the that years, that have chain, services and operations. with last in deep strength work in of the crimes and operations, But significant connect we know, And commercial you in us others over have, as partners of accelerate So, as we and know like particularly of you

You and deliver relationship versus years and different of value do up. conversations deliver continue back. X topics, on different grow excellence today years the areas. difference clients, X ultimately big connect one in clients That’s us or to open That allows up to to all they range to a

of some this you have and is for start it days, we way to days, the these run start. it used Second, doesn’t outsource operations that old start will for In way. it These you. with, the to

talk call fact, In then model, that move it, days starts down How intelligent way deal. to the to data everything leads cloud. we advise your way. multiple It to or can technologies the can to start one and subsequently and right data. most the take right them in the your to up on it we the often orchestrate all we of clean what would and a deal align the your resides so that doesn’t about BPO data That in that with old target operations operating right did do cloud, technologies leverage, sit you

of question nature not these to in to journeys. centers. even buying year. start last from then expect has the – would followed you client grow the have multiyear become that same then within you have, multiple Intelligent to Operations, particular a often become Transformation are me these They These which leads things is the which Services So, relationships start and by finish, are

as start this you with long is keep you of one as journeys we which down what makes the consistently once these then end during adding new So, And path that so I client the with we that exciting. growing of quarter. to client, with clients client, would a go signed the if value XX

age some journeys but the also the the for. X not they XX a and that would we to so that We include of journey I in of are in rapidly mode growing way, take to deliver growth be process, And all there relationship with new are that those aspire scaling hyper of By is and with our clients have undertake today. them. what big large of undertaking the years those them, excited help our established are so the that beginning, and we they years, proposition value a clients able by fact them, are scaling represent some number later, the clients of X clients those call

out broadly call what space. the many over in high-tech fintech e-commerce one play We last have Shortex, could and X years of the seen and those

Ashwin Shirvaikar

ask for perspective, to there return also do I where have might a is all including details. the but those And there is I expectation, missed it, push you wanted to to office? to about you a where perspective? model office. office return Thank financial percentage to if regulatory from a Understood. stand Philippines return do

Mike Weiner

Yes.

to is incorporate in geographic And… I going still to return office, now it’s from The we low the outlook area at right beginning geographic are. return back So, aggregate. are sub-XX% and guidance to But this we does return relatively to think now, a our for the forward where point of going models that the at in office what by have financial we area. office

Ashwin Shirvaikar

the just No, Sorry. to no, wanted Philippines I impact, ask about.

Tiger Tyagarajan

in think if balance are to the as moment. at the think think Mike’s XX% company, so the than the of look is less no, make mark. the at then to quarters we glide next industry Philippines, overall an number XX%, aggregate a that. progressing are of there that the the is you And milestones, I process No, in of through overall and we I XX% there government the go couple good I of patht is with discussions But the sure to

We employees thing period. back can expect remotely, gone in By of weeks, as a that the in our work happened to way, XX-hour given imagine, in And China. is recent XX% China have happened amazing keep what’s to you almost progressing. the the that few

Ashwin, XXX% remote. for banking clients of are services, world can overall discussions service number to we one think So, or in that now single percentage well. should company think the to of the customer geography. get know that a to this do function function real will I few knows I probably there certain will work, services, very percentage we next a office. down kinds – of think doing, will certain one other we an is it It’s where back how be that the we is lay care from be that’s ultimately now the answer, no that’s because kind think get and The with But come about years, is to say, perspective already the of

we innovation, can of As centers the we back team in the through come can all cadence we those sit culture, continue talk can office and build we so do teams hackathons. are bring to already of training, with many to with doing dynamics. down long can across do operating can our build as We ideas, globe. some up And

size right fit the situation right are with with to through bit client. the right little we going going that the of excise be the to every a it’s So, client. And exactly that’s

Ashwin Shirvaikar

Very clear. Thank you.

Tiger Tyagarajan

Ashwin. Thanks

Operator

question comes Your Cowen. with Instructions] the [Operator from of Bergin line Bryan next

open. is line Your

Bryan Bergin

thank bookings. Hi guys. Good afternoon you. on ask I to wanted and

bookings It converted opportunities. good a of lot commentary sounds really you hear. to the was So, like

quarter just there think first investments salespeople it’s you am atypical did here. differently or anything I I around would practices, that curious, this? strong a So, so be that sales drove

am just I you that Tiger, conversion? were curious, So, what think the drivers key for

Tiger Tyagarajan

quarter I you. did think one. anything in didn’t quarter thank do Bryan, don’t in one. we special anything special No, we

four function or three a it’s think I things. of

technologies we say strong have we and in to And about number full market, may when it quarter to from about talked to fact that While that The as the in quarter the go addressable continue total and be and requirement process have a about that just X momentum bookings the back. partnerships I not to of change we quarters a again, change, even may are requirement of XXXX, year and back the years that about bookings to very we thought we are strong, past given talking we four, talking a have thought reflection a And of strong four change in had through. be and what the did inflows grown now. – a our believe for pipeline the were of talking all time. new the it’s and five speed we market, has now partner it given that that and in, addressable of quarters, total our services or it’s our who that embrace years clients not to reflection world have about probably about and X of used continued range said fact this at

give right I question So, aligned. There that no think I team myself I the and could give team our credit only. wish is credit we had

experience fact finds these for years named with have team a done, the all way with technologies, difference say, a to in comes acquisitions trying comes make build and really customers. recent digital of experience a along helps in difference. agendas, big clients, improve our their e-commerce team, to engage global and team business I and change users to with massive some the enter that a where examples our and made we the the does few we we a is the client a business. of data number huge really gave, way to Enquero build think out often conversations the Rightpoint our I the in in When new them orchestrate have I I That have who to of insights then

of it’s that. a all think I So, of combination

Bryan Bergin

the here re-pricing. Okay. on Makes sense. the And follow-up client then

mix versus progress sense steady on? you adjustments are that the have where give on pricing said front. Can achieved you us the maybe of So, that you working mix you a still the

Tiger Tyagarajan

too Bryan. It’s say, to early

business. Services our particularly are let’s shorter these there. about think said, can of – fastest have mean significant our our analytics, has component have And before, described growing cycle business. as annuity I which we business Transformation portion Transformation I the As a business, leave even of the Transformation you Services our Services is

So, component annuity operations. all as as that all intelligent of our well

we their right face given are talking be inflation for contracts the that talent our long-term situation And clients in environment, the themselves value current marketplace. built-in given in driving clients. engaged understand need the what clients with adjusters, that Our for given to to about they is, our the also

it conversations, but having we those think I are time. takes

could given So, any I now. number don’t right meaningful be think

So, a going to and year this be is journey. into full next year

Mike Weiner

Yes.

forward. as sight progress this to But on pretty of hard. have particular high making we doing. building what in we not are But We and it we away, we working upon are are was move keep Right material quarter. expectations, line

Bryan Bergin

you. Thank Okay.

Tiger Tyagarajan

Thanks Bryan.

Operator

Roger. now no to I would back turn questions the call And there further to are like this at time.

Roger Sachs

you quarter. again joining Thank today, you, forward us to next for and with everybody look speaking

Operator

you conference today’s And this for and all Ladies concludes gentlemen, participating. we thank call.

You may now disconnect.

Genpact Limited (G) 6 May 222022 Q1 Earnings call transcript