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    Nitin Padmanabhan • Investec

    Nitin Padmanabhan's questions to Infosys Ltd (INFY) leadership

    Nitin Padmanabhan's questions to Infosys Ltd (INFY) leadership • Q4 2025

    Question

    Nitin Padmanabhan of Investec India asked for details on the Mitsubishi partnership in Japan and how the order backlog entering FY'26 compares to the backlog at the start of FY'25.

    Answer

    CFO Jayesh Sanghrajka clarified that it was not a new JV; rather, Mitsubishi was inducted as a strategic partner into an existing JV, with Infosys diluting its share by 2%. Regarding the backlog, management explained that while the quantum of deals ramping up is different from last year, the nature and tenure of the deals also differ. They noted that the mega deals signed in FY'24 have now largely ramped up and reached a steady state.

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    Nitin Padmanabhan's questions to Infosys Ltd (INFY) leadership • Q2 2025

    Question

    Nitin Padmanabhan asked if the improved pipeline for smaller deals has translated to higher closure rates in the current quarter, and inquired about the breakdown of increased software package costs between third-party and internal sources.

    Answer

    CFO Jayesh Sanghrajka clarified that while the pipeline for deals under $50 million has increased, there has been no significant change in the decision-making timeline or closure process. Regarding software costs, he explained that third-party costs for hardware, software, and licenses are an integrated part of large deals and are not broken out further.

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