Yes, that addition is roughly 15% of the total headcount! So, definitely shows they are hiring for the future and Manoj has clearly articulated in FY22 about their order visibility for next 2-3 years. Additionally, If you look at other metrics closely, overall it is not a bad quarter as the market would have you believe but just a departure from the always stellar numbers it is used to seeing for the last 10-12 quarters. The LTM attrition rate is now at 18.7% showing signs of peak (19% in Q1FY23) being crossed (closest peer LTTS is still reporting higher LTM in Q2FY23 vs Q1FY23). Onshore/offshore ratio is stable YoY and QoQ (closest peer LTTS is reporting increased onshore % YoY and QoQ) – this cannot be a standalone indicator and needs to be tracked over coming quarters as large deals and increased onshore % would impact this.
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